Company: EVLVW
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001805385-25-000017
Chunk: 275

Company: Evolv Technologies Holdings, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 275
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 to the amortization of debt issuance costs totaled $0.2 million for the three and nine months ended September 30, 2025. The Revolving Credit Facility provides for an unused commitment fee of 0.25% on the undrawn portion of the facility. Interest expense related to the unused commitment fees totaled less than $0.1 million for the three and nine months ended September 30, 2025.

F-21

Table of ContentsEVOLV TECHNOLOGIES HOLDINGS, INC.NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited)

10. Stock-Based Compensation

Stock OptionsThe following table presents, on a weighted average basis, the assumptions used in the Black-Scholes option-pricing model to determine the grant-date fair value of stock options granted during the nine months ended September 30, 2024. No option grants were issued during the nine months ended  September 30, 2025.Nine Months Ended September 30,2024Risk-free interest rate4.1%Expected term (in years)6.1Expected volatility90.0%Expected dividend yield0.0%The following table summarizes the Company’s stock option activity since December 31, 2024 (in thousands, except for share and per share data):Number ofSharesWeightedAverageExercise PriceOutstanding as of December 31, 202418,125,937$1.18 Granted— — Exercised(8,079,161)1.06 Forfeited(525,981)3.61 Expired(20,306)3.63 Outstanding as of September 30, 20259,500,489$1.15 Restricted Stock UnitsThe following table summarizes the Company's restricted stock units activity since December 31, 2024:Number ofSharesGrant Date FairValueNonvested as of December 31, 202412,115,657 $3.50 Granted8,145,704 3.89 Vested(5,313,544)3.33 Forfeited(3,929,323)3.73 Nonvested as of September 30, 202511,018,494 $3.79 Market-based Stock UnitsDuring the nine months ended September 30, 2025, the Company granted market-based stock units ("MSUs") for which the vesting conditions consist of market-based vesting conditions, determined