Company: FOXX
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-043597
Chunk: 38

Company: Foxx Development Holdings Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Item 1
Chunk 38
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 the 1/16th of these shares will vest each quarter thereafter on the same day of the month as the
grant date. The vesting of each RSU is subject to the director’s continued employment through applicable vesting date.

The RSUs are accounted for
as equity awards and are measured at fair value based upon the grant date market value of the Company’s common stock. Compensation
expense is recognized on a straight-line basis over the vesting service period of four years.

21

The following table presents
the total stock-based compensation expenses included in each of the respective expense line items for the periods presented:

    For the Three Months Ended  
    For the Nine Months Ended 

    March 31,  
    March 31, 

    2025  
    2024  
    2025  
    2024 

    (Unaudited)  
    (Unaudited)  
    (Unaudited)  
    (Unaudited) 
  
    Selling expenses 
    $28,513  
    $      -  
    $132,952  
    $            - 
  
    General and administrative expenses 
     224,917  
     -  
     275,912  
     - 
  
    Research and development expenses 
     73,158  
     -  
     118,678  
     - 
  
    Total stock-based compensation expenses 
    $326,588  
    $-  
    $527,542  
    $- 

The following table summarizes
the activity for all restricted stock units granted:

     Shares   Weight average grant date fair value   Total fair value   Weighted average   remaining contractual term (in years)   Unvested at July 1, 2024   -   $-   $-    -   Granted   -    -    -    -   Vested   -    -    -    -   Forfeited   -    -    -    -   Unvested at September 30, 2024   -    -    -    -   Granted   707,860    7.30