Company: ATLN
Filing Date: 2025-01-23
Form Type: S-4/A
Source: 0001213900-25-006032
Chunk: 362

Company: ATLANTIC INTERNATIONAL CORP.
Filing Date: 2025-01-23
Form: S-4/A
Chunk 362
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 -linebasis. F-66

STAFFING 360 SOLUTIONS, INC. AND SUBSIDIARIES
NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
(All amounts in thousands, except share, per share and stated value per share)
(UNAUDITED) NOTE 9 — STOCKHOLDERS’ DEFICIT (cont.)

The fair value of the award is calculated by multiplying the number of restricted shares by the Company’s stock price on the date of issuance. The impact of forfeitures has historically been immaterial to the financial statements. In the nine months ended September 28, 2024 and September 30, 2023, the Company recorded compensation expense associated with these restricted shares of $ and $, respectively.

|                                   |     | Restricted 
     Shares |   |     | Weighted  
 Average   
 Price     
 Per Share |       |
|:----------------------------------|:----|-----------:|:--|:----|:----------|------:|
| Outstanding at December 31, 2022  |     |      6,859 |   |     | $         | 67.20 |
| Granted                           |     |     33,731 |   |     |           | 23.00 |
| Vested/adjustments                |     |    (17,769 | ) |     |           | 28.80 |
| Outstanding at December 30, 2023  |     |     22,821 |   |     |           | 31.80 |
| Granted                           |     |          — |   |     |           |     — |
| Vested/adjustments                |     |       (262 | ) |     |           | 11.84 |
| Outstanding at September 28, 2024 |     |     22,559 |   |     | $         | 28.28 |

Warrants

In connection with the private placement consummated in July 2022 (the “July 2022 Private Placement”), on July 7, 2022, the Company entered into warrant amendment agreements (the “Warrant Amendment Agreements”) with each of the nine existing participating investors, which amended warrants to purchase up to shares of common stock (prior to amendment, the “Original Warrants”). The Original Warrants had an exercise price that ranged from $ to $ per share and expiration dates that ranged from July 22, 2026 to November 1,