Company: KITTW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001849820-25-000211
Chunk: 72

Company: Nauticus Robotics, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Part I, Item 1
Chunk 72
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15. Stock-Based Compensation

Our 2022 Omnibus Incentive Plan provides for the grant of options, stock appreciation rights, restricted stock units (“RSU”s), restricted stock and other stock-based awards, any of which may be performance-based, and for incentive bonuses, which may be paid in cash, Common Stock, or a combination thereof. As of June 30, 2025, 378,969 equity units remained outstanding.

Total stock-based compensation expense including options and RSUs for the three and six months ended June 30, 2025, net of forfeiture adjustments, totaled $257,334 and $570,015, respectively. Total stock-based compensation expense including options and RSUs for the three and six months ended June 30, 2024, net of forfeiture adjustments, totaled $809,310 and $1,339,965, respectively. 

16. Employee Benefit Plan

Nauticus offers a 401(k) plan which permits eligible employees to contribute portions of their compensation to an investment trust. The Company makes contributions to the plan totaling 3% of employees’ gross salaries and such contributions vest immediately. The 401(k) plan provides several investment options, for which the employee has sole investment discretion. The Company’s cost for the 401(k) plan was $61,231 and $95,692 for the three and six months ended June 30, 2025, respectively. The Company’s cost for the 401(k) plan was $48,261 and  $103,265 for the three and six months ended June 30, 2024, respectively.

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Table of ContentsNAUTICUS ROBOTICS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(UNAUDITED)

17. Related Party Transactions

ATW I, ATW II, ATW III, MIF and SLS are considered related parties as they can significantly influence the management of the Company, and we require their consent on all material transactions. Further, MIF is considered a related party as Adam Sharkawy is a member of the Board of Directors of the Company and the founder and managing partner of MIF. SPA Warrants – The SPA Warrants are held by related parties ATW I, MIF and SLS Family Irrevocable Trust (see Note 14 – Warrants). Exchanged Senior Secured Convertible Debenture - On January 30, 2024, the Company and certain of its subsidiaries and AT