Company: CHUC
Filing Date: 2025-08-21
Form Type: 10-Q
Source: 0001437749-25-027482
Chunk: 16

Company: Charlie's Holdings, Inc.
Filing Date: 2025-08-21
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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 was determined using the Black-Scholes option pricing model with the following assumptions:

  Exercise price                   0.10  
  Contractual term (years)         2.98  
  Volatility (annual)             131.5  
  Risk-free rate                    4.3  
  Dividend yield (per share)          0  

NOTE 12 - STOCK-BASED COMPENSATION

On May 8, 2019, our Board of Directors approved the Charlie’s Holdings, Inc. 2019 Omnibus Incentive Plan (the “2019 Plan”), and the 2019 Plan was subsequently approved by holders of a majority of our outstanding voting securities on the same date. Up to11,072,542stock options were originally grantable under the 2019 Plan.

On December 22, 2021, our Board of Directors unanimously adopted resolutions by written consent approving an amendment to increase the number of shares of Common Stock available for issuance under the 2019 Plan by15.0million shares, from11,072,542to26,072,542shares (the “2019 Plan Amendment”). Furthermore, the Company received written consents approving the 2019 Plan Amendment from holders of approximately50.3% of our outstanding voting securities. In accordance with Rule 14c of the Exchange Act, our Board of Directors’ authority to implement the 2019 Plan Amendment became effective February 28, 2022, twenty calendar days after notification of our shareholders.

Non-Qualified Stock Options

The following table summarizes stock option activities during the three months ended June 30, 2025 (all option amounts are in thousands):

                                                       Stock Options            Weighted         Weighted      Aggregate        
                                                                                                                                
                                                                                 Average          Average      Intrinsic Value  
                                                                                                                                
                                                                          Exercise Price        Remaining                       
                                                                                                                                
                                                                                              Contractual                       
                                                                                                                                
                                                                                                     Life                       
                                                                                                                                
                                                                                               (in years)                       
  Options forfeited/expired                                        -                   -                -                       
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Outstanding at January 1, 2025                               4,648               $0.46              4.8      $                
  Outstanding at June 30, 2025                                 4,648               $0.46              4.3      $                
  Options vested and exercisable at June 30, 2025              4,648               $0.46              4.