Company: LDWY
Filing Date: 2025-08-28
Form Type: 10-KT
Source: 0001558370-25-011807
Chunk: 71

Company: LENDWAY, INC.
Filing Date: 2025-08-28
Form: 10-KT
Chunk 71
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 | ​ |    ​ | ​ |
| ​                       |   | 2025 |   | 2024 |   | 2023 |   |
| Expected life (years)   |   |  N/A |   |  N/A | ​ |  1.0 | ​ |
| Expected volatility     |   |  N/A | % |  N/A | % |   95 | % |
| Dividend yield          |   |  N/A | % |  N/A | % |    — | % |
| Risk-free interest rate |   |  N/A | % |  N/A | % |  4.7 | % |

The Company uses the graded attribution method to recognize expense for unvested stock-based awards. Forfeitures are recognized as incurred.

Stock Options, Restricted Stock, Restricted Stock Units, and Other Stock-Based Compensation Awards. The Company maintains stock and incentive plans (the “Plans).

Under the terms of the Plans, the Company may grant awards in a variety of instruments including stock options, restricted stock and restricted stock units to employees, consultants and directors generally at an exercise price at or above % of fair market value at the close of business on the date of grant. Stock options expire after the date of grant and generally vest over . The Company issues new shares of common stock upon grant of restricted stock, when stock options are exercised, and when restricted stock units are vested and/or settled.

F-22

The following table summarizes activity under the Plans:

| ​                                         
 ​                                         
 ​                                         
 ​                                         | ​ 
 ​ 
 ​ |           ​ 
 Plan Shares 
   Available 
   for Grant | ​ 
 ​ |            ​ 
            ​ 
 Plan Options 
  Outstanding | ​ 
 ​ | ​                
 Weighted Average 
 Exercise Price   
 Per Share        |     ​ | ​ 
 ​ | ​               
 ​               
 Aggregate       
 Intrinsic Value | ​ 
 ​ |
|:------------------------------------------|:--|------------:|:--|-------------:|:--|:-----------------|------:|:--|:----------------|:--|
| Balance at January 1, 2023                |   |      92,862 |   |       14,086 | ​ | $                | 14.17 | ​ | ​               | ​ |
| Cancelled or forfeited options            |   |      12,623 |   |      -12,623 | ​ |                  | 14.02 | ​ |