Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 63

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 63
---
17,950  
    $      -  
           -  
    $      - 
  
    Add: Granted during the year 
     4,525,000  
     -  
     -  
     - 
  
    Less: Cancelled during the year 
     (2,044) 
     -  
     -  
     - 
  
    Outstanding at the end of the period 
     4,540,906  
        
     -  

    Exercisable at the end of the period 
     15,906  
     -  
     -  
     - 
  
    Unvested at the end of the period 
     4,525,000  
     -  
     -  
     - 

The
compensation cost of non-vested awards not yet recognized as of September 30, 2025, is $1,972,555 (September 30,2024 : NIL). The weighted
average period over which stock-based compensation expenses of non-vested awards not yet recognized is expected to be recognized is 1.47
years (September 30, 2024 : NIL).

The
total intrinsic value at the date of exercise for the options exercised during the six months ended September 30, 2025 is NIL (September
30, 2024 : NIL)

Restricted
shares issued to CEO

On
May 9, 2025, the Company entered into a consulting agreement with Mr. Deepankar Tiwari to engage him as the Chief Executive Officer (“CEO”)
of the Company. As consideration for services rendered, Mr. Tiwari shall be eligible to receive a monthly consultancy fee and restricted
shares of the Company. As per the terms of the agreement, 1,000,000 restricted shares were granted, of which 250,000 restricted shares
shall vest at the end of each quarter starting June 30, 2025. Such restricted shares granted shall be subject to- i) execution of relevant
Restricted Shares award agreement, ii) approval by Board of Directors, and iii) Compliance with applicable securities laws and tax regulations
in the relevant jurisdictions, collectively called as ‘conditions for grant’. The Board had approved the restricted shares
granted to Mr. Tiwari on July 16, 2025 pursuant to which the