Company: FMHS
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001096906-25-001826
Chunk: 14

Company: FARMHOUSE, INC. /NV
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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 restricted stock, restricted stock units, performance shares, performance units, other stock-based awards, and cash-based awards. The 2021 OIP was ratified by stockholders holding a majority of the Company’s outstanding shares.

Stock Options

Options granted under the 2021 OIP may be either incentive stock options, as defined by Section 422 of the Internal Revenue Code, or nonqualified stock options. The exercise price of options must not be less than 100% of the fair market value of the Company’s common stock on the date of grant (110% for holders of more than 10% of the voting stock). Options become exercisable as determined by the Board of Directors and expire no later than ten years from the date of grant (five years for optionees owning more than 10% of voting stock).

No stock options or other equity instruments were granted during the periods presented.

Restricted Stock Awards (“ RSA”)

The Company accounts for stock-based compensation in accordance with ASC 718, Compensation - Stock Compensation, recognizing expense based on the grant-date fair value of awards over the requisite service period. All awards were in the form of RSAs granted under the 2021 OIP. RSAs are issued at fair market value on the grant date and typically vest in monthly or quarterly installments, subject to continued service. Stock-based compensation for RSAs is recognized on a straight-line basis over the vesting period.

The following table summarizes RSA activity for the periods presented:

                                        Number of RSAs      Weighted Average Grant Date Fair Value  
  Balance as of January 1, 2025                220,000                                      $0.076  
  Awarded                                      400,000                                      $0.011  
  Vested                                       527,500                                      $0.026  
  Forfeited                                          -                                          $-  
  Balance as of September 30, 2025              92,500                                      $0.079  

On July 16, 2025, the Board granted an RSA of400,000shares of common stock to Lang Financial Services, Inc. (“ LFSI”), an entity controlled by the Company’s Chief Financial Officer. The shares were fully vested at the time of issuance.

Stock-based compensation expense was $13,915and $41,685for the nine months ended September 30, 2025 and 2024, respectively, and $7,625and $5,895for the three months ended September 30, 2025 and 2024, respectively. As