Company: KVHI
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001007587-25-000022
Chunk: 50

Company: KVH INDUSTRIES INC \DE\
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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 no shares of common stock were issued upon the exercise of stock options. No shares were surrendered to the Company to satisfy minimum tax withholding obligations. Additionally, during the nine months ended September 30, 2024, 266 stock options were granted and 501 stock options expired, were canceled or were forfeited. The Company has historically estimated the fair value of each option grant on the date of grant using the Black-Scholes option-pricing model. The weighted average assumptions utilized to determine the fair value of options granted during the nine months ended September 30, 2025 and 2024 are as follows:Nine Months Ended September 30, 20252024Risk-free interest rate3.93 %4.36 %Expected volatility40.81 %48.63 %Expected life (in years)3.774.32Dividend yield0 %0 %As of September 30, 2025, there were 1,264 options outstanding with a weighted average exercise price of $7.09 per share and 380 options exercisable with a weighted average exercise price of $9.22 per share. As of September 30, 2024, there were 995 options outstanding with a weighted average exercise price of $8.23 per share and 410 options exercisable with a weighted average exercise price of $9.32 per share. 

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Restricted StockDuring the three months ended September 30, 2025, 70 shares of restricted stock were granted with a weighted average grant date fair value of $5.50 per share and 4 shares of restricted stock were forfeited. Additionally, during the three months ended September 30, 2025, 1 shares of restricted stock vested. During the three months ended September 30, 2024, 85 shares of restricted stock were granted with a weighted average grant date fair value of $4.51 per share and no share of restricted stock were forfeited. Additionally, during the three months ended September 30, 2024, 16 shares of restricted stock vested.During the nine months ended September 30, 2025, 70 shares of restricted stock were granted with a weighted average grant date fair value of $5.50 per share and 26 shares of restricted stock were forfeited. Additionally, during the nine months ended September 30, 2025, 147 shares of restricted stock vested. During the nine months ended September 30, 2024,