Company: ANY
Filing Date: 2025-08-05
Form Type: 10-Q
Source: 0001591956-25-000009
Chunk: 53

Company: Sphere 3D Corp.
Filing Date: 2025-08-05
Form: 10-Q
Item: Part I, Item 8
Chunk 53
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 expectation of no future dividend payments. Option awards can be granted for a maximum term of up to 10 years. The assumptions used in the Black-Scholes model were as follows:Three MonthsEnded June 30,Six MonthsEnded June 30,2025202420252024Expected volatility148.0%126.1%148.0%124.3-126.1%Expected term (in years)3.53.53.53.5Risk-free interest rate4.0%4.6%4.0%4.1-4.6%Dividend yield————The following table summarizes option activity:SharesSubject to OptionsWeighted-AverageExercisePriceWeighted-AverageRemainingContractualTerm (years)AggregateIntrinsicValue(in thousands)Options outstanding — January 1, 2025443,170 $5.11 Granted149,500 $0.79 Exercised— $— Forfeited(26,785)$12.60 Options outstanding — June 30, 2025565,885 $3.62 4.1$— Vested and expected to vest — June 30, 2025565,885 $3.62 4.1$— Exercisable — June 30, 2025416,385 $4.63 3.5$— The weighted average grant date fair values of options granted for the six months ended June 30, 2025 and 2024 was $0.67 and $1.67 per share, respectively.Restricted Stock UnitsThe following table summarizes RSU activity: Number ofSharesWeighted AverageGrant Date Fair ValueOutstanding — January 1, 2025760,834 $1.98 Granted3,037,383 $0.73 Vested and released(876,344)$1.07 Forfeited(1,226,417)$1.28 Outstanding — June 30, 20251,695,456 $0.72 Vested and unreleased  — June 30, 2025101,451 $1.37 The estimated fair value of RSUs was based on the closing market value of the Company’s common shares on the date of grant. RSUs typically vest over a period of 12 months to three years from the original date of grant. The total grant date fair value of RSUs vested for the six