Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 3572

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 13
Chunk 3572
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although certain awards may vest immediately or vest upon attainment of specific performance criteria.

Share-based
compensation expense recognized in the Consolidated Statements of Operations is based on awards ultimately expected to vest, therefore,
awards are reduced for estimated forfeitures. The accounting standard requires forfeitures to be estimated at the time of grant and revised,
if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company will recognize the compensation expense
on a straight-line basis over the service period for the entire awards. As of December 31, 2024 and December 31, 2023, the awards from
the Plans are presented within the stockholders’ equity section of the Company’s balance sheet.

Total
share-based compensation expense, related to the Company’s share-based awards, recognized for the years ended December 31, was
included within the representative group comprised as follows:

Schedule of Share Based Compensation Expense  

    2024  
    2023 
  
    (Dollars in thousands) 

    Cost of cryptocurrency mining revenue, exclusive of depreciation 
    $48  
    $300 
  
    Cost of data hosting revenue, exclusive of depreciation 
     112  
     24 
  
    General and administrative expenses, exclusive of depreciation and amortization 
     5,151  
     3,988 
  
    Share-based compensation expense 
    $5,311  
    $4,312 

     F-34 

Total
unrecognized compensation costs related to non-vested stock options as of December 31, 2024 and December 31, 2023 is approximately $54
thousand and $266 thousand, respectively, and is expected to be recognized over a weighted-average remaining vesting period of approximately
1.42 years and 0.37 years, respectively.

Presented
below is a summary of the Company’s stock option activity for the Plans for the years ended December 31:

Summary of Stock Option Activity 

    2024  
    2023 
  
    Shares under option, beginning 
     52,393  
     52,393 
  
    Granted 
     -  
     - 
  
    Exercised 
     -  
     - 
  
    Forfeited 
     -  
     - 
  
    Expired/canceled 
     (49,148) 
     - 
  
    Shares under option,