Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 366

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 366
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              |     |          |     |   1,448,849 |     |          |

The intrinsic value of all options exercised for the years ended December 31, 2024 and 2023 was $42,873 and $45,601, respectively. As of December 31, 2024, the aggregate intrinsic value of options outstanding and options exercisable was $2,759,717 and $2,392,001, respectively. As of December 31, 2023, the aggregate intrinsic value of options outstanding and options exercisable was $276,837 and $244,160, respectively. Arches Equity Incentive Plan The WholesomeCo 2024 Equity Incentive Plan (the Arches Plan) includes equity incentive awards such as stock options, restricted stock, restricted stock units and stock appreciation rights (collectively, Arches Awards) to be granted to employees, consultants and directors of the Company. A total of 7,860,271 shares have been authorized for issuance under the Arches Plan and 462,407 shares remain available to be issued under the Arches Plan. The exercise price of the Arches Awards is determined by Arches’ board of directors or committee of nonemployee directors thereof in good faith. The granting of shares and exercise price must be approved by Arches’ board of directors. In general, the Arches awards vest over a period of approximately two to four years and expire 10 years from the date of grant. The fair value of each option grant is estimated on the date of grant using the Black Scholes option pricing model and inputs as previously disclosed in the “WholesomeCo Equity Incentive Plan” paragraphs. Stock-based compensation for the year ended December 31, 2024 was $102,531. As of December 31, 2024, the Company had $380,506 of unrecognized stock-based compensation costs related to non-vested awards that will be recognized over a weighted-average period of 1.44 years. The fair value of each stock-based award granted was estimated on the date of the grant using the Black-Scholes option-pricing model with the following assumptions:

|                                                |     |   2024 |
| Weighted average fair value of options granted |     |  $0.20 |
| Weighted average expected dividend yield       |     |  0.00% |
| Weighted average expected volatility           |     | 80.07% |
| Weighted average risk-free