Company: FLDDW
Filing Date: 2025-08-11
Form Type: 424B3
Source: 0001213900-25-074298
Chunk: 275

Company: Fold Holdings, Inc.
Filing Date: 2025-08-11
Form: 424B3
Chunk 275
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 market approach method. This method leverages an analysis of publicly traded peers to develop relevant market multiples and ratios applied to the Company’s historical and expected cash flows. F-25

Fold, Inc.
Notes to Financial Statements 11. SHARE-BASED COMPENSATION EXPENSE (cont.) RSU and RSA activity The following table summarizes RSU and RSA share activity under the Equity Plan for the years ended December 31, 2024 and 2023:

|                                       |     |      RSUs |   |     |     RSAs |   |
| Shares nonvested at January 1, 2023   |     | 1,583,089 |   |     |  700,825 |   |
| Granted                               |     |   242,010 |   |     |        — |   |
| Vested                                |     |         — |   |     | (550,367 | ) |
| Forfeited                             |     |  (284,123 | ) |     |        — |   |
| Shares nonvested at December 31, 2023 |     | 1,540,976 |   |     |  150,458 |   |
| Granted                               |     | 1,006,582 |   |     |        — |   |
| Vested                                |     |         — |   |     | (129,533 | ) |
| Forfeited                             |     |    (4,750 | ) |     |        — |   |
| Shares nonvested at December 31, 2024 |     | 2,542,808 |   |     |   20,925 |   |

Note that while certain RSUs have met the service condition, no RSUs have met the performance condition, and are therefore not included in common shares issued and outstanding as of December 31, 2024 or 2023. 12. COMMITMENTS AND CONTINGENCIES 401(k) Plan We sponsor a 401(k) defined contribution plan covering all eligible U.S. employees. Both Company and employee contributions to the 401(k) plan are discretionary. For each of the years ended December 31, 2024 and 2023, we recorded $0.1 million of expenses related to the 401(k) plan, which is included in compensation and benefits in the accompanying statements of operations. Litigation The Company was not a party of any ongoing or pending litigation as of December 31