Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 496

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 496
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,010 |   |     |        — |   |
| Vested                                 |     |         — |   |     | (550,367 | ) |
| Forfeited                              |     |  (284,123 | ) |     |        — |   |
| Shares nonvested at December 31, 2023  |     | 1,540,976 |   |     |  150,458 |   |
| Granted                                |     | 1,006,582 |   |     |        — |   |
| Vested                                 |     |         — |   |     | (100,275 | ) |
| Forfeited                              |     |    (3,750 | ) |     |        — |   |
| Shares nonvested at September 30, 2024 |     | 2,543,808 |   |     |   50,183 |   |

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 September 30, 2024 and 2023. 10. 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 nine months ended September 30, 2024 and 2023, we recorded a nominal amount of expense 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 September 30, 2024 and 2023, and accordingly, has not made any accrual related to legal proceedings in the Company’s balance sheets.

F-42

Fold, Inc.
Notes to Unaudited Condensed Financial Statements 11. INCOME TAXES During the nine months ended September 30, 2024, the Company had losses before income taxes of $65.6 million and a nominal amount of income tax expense. During the nine months ended September 30, 2023, the Company had losses before income taxes of $5.8 million and a nominal amount of income tax expense. For the nine months ended September 30, 2024, the Company’s actual tax expense differs from the expected tax benefit utilizing a federal rate of 21%, primarily due