Company: BCHT
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001477932-25-002237
Chunk: 455

Company: Birchtech Corp.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 455
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  Grants  1,000,000   0.88         Expirations  (5,155,719 )  0.64         Exercised  (3,581,781 )  0.35         December 31, 2024  9,300,000  $0.58   1.75   12,500                  Options exercisable at:                December 31, 2024  9,300,000   0.58   1.75   12,500  The aggregate intrinsic value in the table above represents the total intrinsic value, based on the Company’s closing stock price of $0.51 as of December 31, 2024 (the last trading day of the month of December 2024), which would have been received by the option holders had all option holders exercised their options as of that date.

 F-27Table of Contents

Stock options exercised during the year ended December 31, 2024 include none that were exercised for cash and 3,581,781 which were a cashless exercise. Restricted Share Units On January 15, 2024, the Company granted 50,000 restricted share units (“RSUs”) to a director pursuant to the 2017 Plan. The RSUs will vest one year from the date of grant on January 15, 2025. Once vested, each RSU represents the right to receive one share of the Company’s common stock. These shares of common stock were valued at $43,500 in accordance with FASB ASC Topic 718. The fair value of the shares will be amortized as an expense over the vesting period. The shares become fully vested on January 15, 2025. The expense for the year ended December 31, 2024 was $41,832.

Note 12 - Warrants The Company utilized a Black-Scholes options pricing model to value warrants at the issuance date. This model requires the input of highly subjective assumptions such as the expected stock price volatility and the expected period until the warrants are exercised. When calculating the value of warrants issued, the Company uses a volatility factor, a risk-free interest rate and the life of the warrant for the exercise period.  No warrants were issued during the years ended December 31, 2024 and 2023. The following warrants were exercised during the years ended