Company: XTIA
Filing Date: 2025-05-19
Form Type: 10-Q
Source: 0001213900-25-045396
Chunk: 31

Company: XTI Aerospace, Inc.
Filing Date: 2025-05-19
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 that may be awarded
under the 2018 Plan as of March 31, 2025 was 73,184,181. As of March 31, 2025, 72,942,798 shares of common stock were available for future
grant under the 2018 Plan.

24

XTI AEROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

See below for a summary of the stock options granted
under the 2011, 2017, and 2018 plans:

     Number of
Shares   Weighted
Average
Exercise
Price   Weighted
Average
Remaining
Contractual
Life (Years)   Aggregate
Intrinsic
Value 
(In millions)   Beginning balance as of January 1, 2025   51,185   $455.00    9.3   $   —   Granted   —                  Exercised   —                  Expired   —                  Forfeited   (852)                 Ending balance as of March 31, 2025   50,333   $343.59    9.1   $—                          Options vested and exercisable as of March 31, 2025   3,826   $2,058.67    7.4   $—  

Stock-based Compensation Expense

The Company accounts
for options granted to employees by measuring the cost of services received in exchange for the award of equity instruments based upon
the fair value of the award on the date of grant. The fair value of that award is then ratably recognized as an expense over the period
during which the recipient is required to provide services in exchange for that award.

The Company measures
compensation expense for its non-employee stock-based compensation under ASC 718, “Stock Based Compensation”. The fair value
of the option issued or committed to be issued is used to measure the transaction, as this is more reliable than the fair value of the
services received. The fair value is measured at the value of the Company’s common stock or stock award on the date that the commitment
for performance by the counterparty has been reached or