Company: VEEAW
Filing Date: 2025-07-23
Form Type: S-1
Source: 0001213900-25-066815
Chunk: 133

Company: VEEA INC.
Filing Date: 2025-07-23
Form: S-1
Chunk 133
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250,000 and $210,000, respectively, and remained unchanged in 2024. Mr. Allen Salmasi did not receive an annual salary in 2023 and 2024. Cash Bonuses In 2024 and 2023 we did not have any formal arrangements with our named executive officers providing for annual cash bonus awards. Ms. Smith received a discretionary cash bonus in 2024, as discussed below. CEO Equity Award On December 30, 2024, the Board approved an equity award to Mr. Salmasi in the form of a non-qualified stock option to purchase 2,992,475 shares of common stock for an exercise price per share of $3.89, which was the fair market value of a share of common stock on the grant date. The award was fully vested and exercisable at the time of grant and expires December 30, 2028. The award was made in recognition of Mr. Salmasi’s exceptional performance and contributions to the Company and its subsidiaries. 2024 Special Bonus to Ms. Smith On November 11, 2024, the Compensation Committee approved a discretionary special cash bonus in the amount of $40,000 to Ms. Smith, for her exceptional performance in fiscal year 2024. The special bonus was paid, less applicable tax withholding, in December 2024. Equity Compensation Veea maintains the Veea Inc. 2024 Incentive Award Plan (the “ 2024 Incentive Plan”), which became effective upon the Closing. 4,460,437 shares of common stock were initially reserved for issuance of awards under the 2024 Incentive Plan (the “ Initial Limit”). The Initial Limit is subject to increase over a ten-year period. The 2024 Incentive Plan provides for the grant of stock options, which may be ISOs or non-statutory stock options (“ NSOs”), stock appreciation rights (“ SARs”), restricted shares, restricted stock units and other stock or cash-based awards that the administrator determines are consistent with the purpose of the 2024 Incentive Plan. As of March 31, 2025, the Company had shares available for issuance under the 2024 Incentive Plan. Veea also maintains the 2024 Employee Stock Purchase Plan (the “ ESPP”), which became effective upon the Closing of the Business Combination. An aggregate of 1,070,603 shares of common stock have been reserved for issuance under the ESPP, which represents 3%