Company: ATLN
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001605888-25-000055
Chunk: 135

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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 administrator in its discretion. Unless otherwise set forth in an individual award agreement, each award shall vest over a four-year period, with one-quarter of the award vesting on the first annual anniversary of the date of grant, with the remainder of the award vesting monthly thereafter.On July 22, 2024 the Company filed a registration statement on Form S-8 to register up to 15% (initially 7,309,322 shares) of the number of shares of common stock, par value $0.00001, to be outstanding immediately following consummation of the Initial Capital Raise following the Merger issuable pursuant to outstanding unvested or unexercised stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, and other stock or cash based awards (collectively, “Awards”) granted under the Company’s 2023 Incentive Plan which became effective upon the consummation and completion of the Merger. Shares underlying any awards under the 2023 Incentive Plan that are forfeited, cancelled, held back to cover the exercise price or tax withholding, satisfied without the issuance of stock or otherwise terminated (other than by exercise) will be added back to the shares available for issuance under the 2023 Incentive Plan. The payment of dividend equivalents in cash shall not count against the share reserve.Restricted Stock UnitsThe Company granted 5,305,058 restricted stock units to employees, which will vest in 2026, and 1,000,000 restricted stock units to non-employees, which are fully vested, under its 2023 Incentive Plan during the nine months ended September 30, 2025. As of September 30, 2025, the Company had 4,727,881 unvested RSUs with a grant date fair value of $5.01.

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The following table summarizes the Company’s restricted stock activity consisting of RSUs: Shares Outstanding Weighted Average Grant Date Fair ValueOutstanding at December 31, 2024241,932$2.36 Granted6,305,058$4.55 Vested(1,241,938)$2.17 Forfeited(577,171)$5.85 Unvested at September 30, 20254,727,881$5.01 As of September 30, 2025, there was $7,031,042 of unrecognized stock-based compensation related to RSUs outstanding,