Company: FLDDW
Filing Date: 2025-05-15
Form Type: 424B3
Source: 0000950170-25-072851
Chunk: 30

Company: Fold Holdings, Inc.
Filing Date: 2025-05-15
Form: 424B3
Chunk 30
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         |   |
| Shares nonvested at January 1, 2024 |     |      | 1,271,784 |     |      | 124,176 |   |
| Granted                             |     |      |   154,327 |     |      |       - |   |
| Vested                              |     |      |         - |     |      | (27,586 | ) |
| Forfeited                           |     |      |         - |     |      |       - |   |
| Shares nonvested at March 31, 2024  |     |      | 1,426,111 |     |      |  96,590 |   |

13. COMMITMENTS AND CONTINGENCIES 401(k) Plan We sponsor a 401(k) defined contribution plan covering all eligible U.S. employees. Both Company and employee contributions to the 401(k) plan are discretionary. For each of the three months ended March 31, 2025 and 2024, we recorded a nominal amount of expense related to the 401(k) plan, which is included in compensation and benefits in the accompanying statements of operations. Litigation The Company was not a party of any ongoing or pending litigation as of March 31, 2025 and 2024, and accordingly, has not made any accrual related to legal proceedings in the Company’s balance sheets. 14. INCOME TAXES During the three months ended March 31, 2025, the Company had losses before income taxes of $48.9 million and a nominal amount of income tax expense. During the three months ended March 31, 2024, the Company had losses before income taxes of $0.9 million and a nominal amount of income tax expense. For the three months ended March 31, 2025, the Company recognized income tax expense instead of an income tax benefit at the expected federal tax rate of 21% due to certain losses that are not deductible for tax purposes and an increase in the valuation allowance, partially offset by the effect of state income taxes. For the three months ended March 31, 2024, the Company recognized income tax expense instead of an income tax benefit at the expected federal tax rate of 21% due to certain losses that are not deductible for tax purposes and an increase in the valuation allowance, partially offset by the effect of state income taxes. As of March 31, 2025, the Company has federal and state net operating