Company: SLNH
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001756
Chunk: 472

Company: Soluna Holdings, Inc
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1A
Chunk 472
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 ended December 31, 2024.

During
the fiscal year ended December 31, 2023, the Company did not issue any equity awards under its 2023 Plan.

During
the fiscal year ended December 31, 2023, the Company did not issue any restricted stock awards or options under the 2021 Plan.

During
the fiscal year ended December 31, 2023, the Company awarded 20,000 restricted stock units under the 2021 Plan, valued at $7.47 per share
based on the closing market price of the Company’s common stock on the date of the grant. The restricted stock units vested during
May 2023.

No
options were granted under the 2023 Plan, the 2021 Plan, the 2014 Plan and the 2012 Plan for the years ended December 31, 2024 and December
31, 2023.

Stock-based
compensation expense for the years ended December 31, 2024, and 2023 was generated from stock options, restricted stock units and
restricted stock awards. Stock options are awards that allow holders to purchase shares of the Company’s common stock at a
fixed price. Certain options granted may be fully or partially exercisable immediately, may vest on other than a four-year schedule
or vest upon attainment of specific performance criteria. Option exercise prices are generally equivalent to the closing market
value price of the Company’s common stock on the date of grant. Unexercised options generally terminate ten years after the
date of grant. Restricted stock units and restricted stock awards generally vest one to three years after the date of grant,
although certain awards may vest immediately or vest upon attainment of specific performance criteria.

Share-based
compensation expense recognized in the Consolidated Statements of Operations is based on awards ultimately expected to vest, therefore,
awards are reduced for estimated forfeitures. The accounting standard requires forfeitures to be estimated at the time of grant and revised,
if necessary, in subsequent periods if actual forfeitures differ from those estimates. The Company will recognize the compensation expense
on a straight-line basis over the service period for the entire awards. As of December 31, 2024 and December 31, 2023, the awards from
the Plans are presented within the stockholders’ equity section of the Company’s balance sheet.

Total
share-based compensation expense, related to the Company’s share-based awards, recognized for the years ended December 31, was
included within