Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 133

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 133
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2024, the Company granted stock options to purchase an aggregate of 250,000 shares of its common stock at an exercise price
of $4.00 per share to employees, directors, consultants and non-employee service providers pursuant to its 2021 Equity Incentive Plan.
These options vest ratably over a period of three years and expire ten years from the date of grant and the fair value of these options
were calculated using the Black-Scholes-Merton model.

On
April 2, 2025, the Company granted stock options to purchase an aggregate of 479,648 shares of its common stock at an exercise price
of $7.25 per share to employees and directors pursuant to its 2021 Equity Incentive Plan. These options vest ratably over a period of
three years and expire ten years from the date of grant and the fair value of these options were calculated using the Black-Scholes-Merton
model.

A
summary of the activity related to stock option units granted is as follows:

Summary of Stock Option
Units Granted

    Summary
    of Stock Options Outstanding 

    Total
    Options  
    Weighted
                                            Average Exercise Price per
                                            Option  
    Weighted
                                            Average Remaining
                                            Contractual Term
                                            (Years) 
  
    Outstanding as of June 30, 2025 
     2,389,217  
     4.21  
     8.20 
  
    Exercisable as of June 30, 2025 
     1,506,764  
     3.42  
     7.51 
  
    Granted 
     -  
     -  
     - 
  
    Exercised 
     (44,357) 
     3.74  
     - 
  
    Forfeited, canceled, or expired 
     -  
     -  
     - 
  
    Outstanding as of September 30, 2025 
     2,344,860  
     4.22  
     7.93 
  
    Exercisable as of September 30, 2025 
     1,559,677  
     3.53  
     7.33 

    F-20

Legacy
Education Inc.

Notes
to Condensed Consolidated Financial Statements

For
the three months ended September