Company: KITTW
Filing Date: 2025-04-30
Form Type: ARS
Source: 0001849820-25-000123
Chunk: 139

Company: Nauticus Robotics, Inc.
Filing Date: 2025-04-30
Form: ARS
Chunk 139
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 summary of our restricted and performance stock unit activity for 2024: Shares Weighted Average Grant Date Fair Value Non-vested as of December 31, 2023 65,894 $ 126.37 Granted 439,765 8.57 Vested (108,662) 38.08 Forfeited (79,933) 57.29 Non-vested as of December 31, 2024 317,064 $ 10.66 The weighted-average grant-date fair value of RSUs granted during the year ended December 31, 2024 and 2023 was $8.57 and $70.92, respectively. The total fair value of RSUs and PRSUs vested during the years ended December 31, 2024 and 2023 was $1,156,065 and $1,132,352. The RSUs granted in 2023 and 2024 do not have voting rights or dividend rights unless the RSU has vested and the share of Common Stock underlying it has been distributed to the participant. Grants of RSUs are valued at their estimated fair values as of their respective grant dates. RSU grants in 2023 and 2024 were subject only to service and vesting conditions based on continued employment or service as a non-employee director; therefore, these grants were valued using the closing price of our stock on the Nasdaq Capital Market on the date of grant. The PRSUs granted in 2022 were subject only to performance and service conditions and did not contain a market condition. As a result, these grants were also valued using the closing price of our stock on the Nasdaq Capital Market on the date of grant. Stock-based compensation expense attributable to PRSUs under the Omnibus Incentive Plan for the years ended December 31, 2024 and December 31, 2023 was a reversal of expense of $284,707 and expense of $480,279, respectively, and recorded in general and administrative expense. Stock-based compensation expense attributable to RSUs under the Omnibus Incentive Plan for years ended December 31, 2024 and December 31, 2023, respectively, was $2,455,426 and $3,416,775 and recorded in general and administrative expense. As of December 31, 2024, we had no future expense related to PRSUs and $1,794,941 of future expense related to RSUs to be recognized over a weighted