Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 1745

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 11
Chunk 1745
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 number of shares of Class A common stock subject to the Option shall vest and become exercisable on each three (3)-month anniversary thereafter, subject to the applicable recipient’s continued service through the applicable vesting date  (2) The vesting commencement date for NSOs granted on September 9, 2024 is June 6, 2024. Per ASC 718-10-35-2, compensation cost for an award of share-based compensation is recognized over the requisite service period. The service period for these awards begins on grant date. The Company considered the requirement in ASC 718-10-35-8 when recognizing current period expense. 

The
fair value of the NSOs were determined using the Black-Scholes option-pricing model and were based on the following weighted average
assumptions: 

     Grant Date   Incentive Plan  June 6,  2024   September 9,  2024   Expected term - years   6.1    10.0   Expected volatility   29.5%   28.5%  Risk-free interest rate   4.2%   3.7%  Expected dividends   —    —  

F-25

Restricted
Stock Units

The
following table summarizes RSU activity for the year ended December 31, 2024:

    Awards  
    Weighted Average Grant Date Fair Value 
  
    Balance at January 1, 2024 
     —  
    $— 
  
    Granted 
     523,300  
     8.15 
  
    Vested 
     —  
     — 
  
    Forfeited 
     (3,000) 
     10.23 
  
    Balance at December 31, 2024 
     520,300  
    $8.13 

As
of December 31, 2024, the unrecognized compensation cost for RSUs issued was $3.5 million and will be recognized over an estimated weighted-average
amortization period of 3.32 years. The fair values of RSUs is based on the fair value of the Company’s common stock on the date of the
grant.

The
following tables provide additional detail about the RSUs granted during the year ended December 31, 2024:

    Employees

    Grant Date
     
    Awards (