Company: CXAI
Filing Date: 2025-05-20
Form Type: 10-Q
Source: 0001829126-25-003841
Chunk: 31

Company: CXApp Inc.
Filing Date: 2025-05-20
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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 an expense over the weighted average remaining term of 2.66 years.

    23

The fair value of each employee option grant is estimated on the date of the grant using the Black-Scholes option-pricing model. For the three months ended March 31, 2025, there were no grants issued. Key weighted-average assumptions used to apply this pricing model for the three months ended March 31, 2024 were as follows:

    Schedule of assumptions used

    Three Months Ended March 31, 2024

    Risk-free interest rate
     
    3.67% - 4.03%

    Expected life of option grants
     
    5.75 - 6.25 years

    Expected volatility of underlying stock
     
    65.65%

    Dividends assumption
     
    $-

Restricted Stock Units

The grant date fair value for Restricted Stock Units (RSU) are valued using the closing price of the Company’s common stock on the date of grant.

In January 2024, a total of 47,000 restricted stock units of the Company’s common stock were granted to employees of the Company under the Incentive Plan at various dates.

On August 29, 2024, a total of 473,935 restricted stock units of the Company’s common stock were granted to directors of the Company under the 2023 Equity Incentive Plan.

The fair value of the common stock as of the various grant dates was determined to be $1.25 to $2.11 per restricted stock unit, for a weighted average fair value of $1.33 per restricted stock unit. There was no other activity related to restricted stock units for the three months ended March 31, 2025.

The following summarizes our RSUs transaction activity for the three months ended March 31, 2025 and year ended December 31, 2024:

    Schedule of RSUs transaction

    Shares

    Weighted Average Grant Date Fair Value

    RSUs outstanding at January 1, 2025

    688,935

    $
    2.22

    Granted

    -

    -

    Exercised

    (11,500
    )
     
    $
    1.33

    Forfeited

    -

    RSUs outstanding at March 31, 2025

    677,435

    24

    Shares

        Weighted Average Grant Date Fair Value