Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 31

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 1
Chunk 31
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pixon adopted the 2011 Employee
Stock Incentive Plan (the “2011 Plan”). The 2011 Plan terminated by its terms on August 31, 2021 and remains in effect as
to outstanding equity awards granted prior to the date of expiration. No new awards will be issued under the 2011 Plan.

During 2017, Legacy XTI adopted the 2017 Employee
and Consultant Stock Ownership Plan (the “2017 Plan”), which was amended in 2021 to increase the maximum shares eligible to
be granted under the 2017 Plan. The Company assumed the 2017 Plan in connection with the XTI Merger. The Company may issue awards in the
form of restricted stock units and stock options to employees, directors, and consultants. Under the 2017 Plan, stock options are generally
granted with an exercise price equal to the estimated fair value of the Company’s common stock, as determined by the Company’s
Board of Directors (the “Board”) on the date of grant. Options generally have contractual terms of ten years. Incentive stock
options (ISO) may only be granted to employees, whereas all other stock awards may be granted to employees, directors, consultants and
other key stakeholders. As of September 30, 2025, there are no shares available for future grants under the 2017 Plan.

In February 2018, Legacy Inpixon adopted the 2018
Plan, which is utilized for employees, corporate officers, directors, consultants and other key persons employed. The 2018 Plan provides
for the granting of incentive stock options, NQSOs, stock grants and other stock-based awards, including Restricted Stock and Restricted
Stock Units (as defined in the 2018 Plan). In August 2025, the Board approved the amendment and restatement of the 2018 Plan which, among
other things, provides that the Board may authorize one or more of the Company’s officers to grant awards pursuant to the 2018 Plan,
provided that the Board must specify the total number of shares of common stock that may be subject to the awards granted by such officer.

As of September 30, 2025, there are no unvested
Restricted Stock or Restricted Stock Units outstanding under the 2018 Plan.

Incentive stock options granted under the 2018
Plan are granted at exercise prices at a minimum of 100% of the estimated fair market value of the underlying common stock at date