Company: VEEAW
Filing Date: 2025-08-14
Form Type: 424B4
Source: 0001213900-25-076086
Chunk: 230

Company: VEEA INC.
Filing Date: 2025-08-14
Form: 424B4
Chunk 230
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 |     | $              | 1.64 |     |             | 8.50 |
| Exercisable at March 31, 2025    |     |           | 3,744,271 |   |     |                |      |     |             |      |

<div align='center'>F-15</div>

The fair value of each stock option
granted is estimated using the Black-Scholes option-pricing model using the single-option award approach. The assumptions used to calculate
the fair value of the options granted during the three months ended March 31, 2025, were as follows:

|                       |     | March 31, 
 2025      |      |   |
|:----------------------|:----|:----------|-----:|:--|
| Stock Price           |     | $         | 1.82 |   |
| Expected term (years) |     |           |  5.0 |   |
| Volatility            |     |           | 75.0 | % |
| Risk-Free Rate        |     |           | 4.12 | % |

Stock compensation expense related
to the common stock options outstanding for the three months ended March 31, 2025 and 2024, was $50,000 and $62,670, respectively, which
is included in general and administrative expenses in the Company’s condensed consolidated statements of operations and comprehensive
income (loss). Total unrecognized expense related to unvested options outstanding as of March 31, 2025, was $135,863 which will be recognized
over a weighted average period of 2.49 years.

Restricted Stock Units

There were no RSUs granted or stock
compensation expense recorded during each of the three months ended March 31, 2025 and 2024.

11 - WARRANTS

As part of Plum’s initial public
offering (“IPO”), Plum issued warrants to third-party investors where each whole warrant entitles the holder to purchase one
share of the Common Stock at an exercise price of $11.50 per share (the “Public Warrants”). Simultaneously with the closing
of the IPO, Plum completed the private sale of warrants (the “Private Placement Warrants” and together with the Public Warrants,
the “Warrants”) where each Private Placement Warrant allows the holder to purchase one share of the Common Stock at $11.50
per share. At March 31, 2025