Company: CELH
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001341766-25-000080
Chunk: 22

Company: Celsius Holdings, Inc.
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 22
---
 1, 2028, on which (x) the Company’s products meet a market share requirement during a specified period (as defined in the Distribution Agreement) and (y) the Ten-Day VWAP immediately prior to such date exceeds the conversion price of such share as of such date. In the case of an Automatic Conversion Event, each share of Series A then outstanding shall be converted into the number of shares of common stock equal to the conversion ratio of such share in effect as of the automatic conversion date. The occurrence of an Automatic Conversion Event will terminate any right of the holder to receive a redemption at their request even if such request had already been submitted, provided that the Series A Preferred shares had not already been redeemed.

20

Celsius Holdings, Inc.Notes to the Condensed Consolidated Financial Statements (Unaudited)March 31, 2025(Tabular dollars in thousands, except per share amounts)

12.    STOCK-BASED COMPENSATION

As of March 31, 2025, there were 23.4 million shares of common stock available for issuance under the Company's 2015 Stock Inventive Plan (the "2015 Plan"). The 2015 Plan expired in April 2025, and the Company is seeking stockholder approval of a new plan at the 2025 annual meeting of stockholders. No further awards can be granted under the 2015 Plan.A summary of the Company’s restricted stock units ("RSUs") and PSUs for the three months ended March 31, 2025 and 2024 is presented in the following table:Three Months Ended March 31,20252024RSUs/PSUs(000’s)WeightedAverageGrant DateFair ValueRSUs/PSUs(000’s)WeightedAverageGrant DateFair ValueUnvested at beginning of period1,021$45.09 1,341$26.43 Granted1,07426.41 27578.22 Vested(249)44.09 (510)22.89 Forfeited and cancelled(10)50.81 (12)23.23 Unvested at end of period1,836$34.27 1,094$41.21 Performance-based Stock AwardsA summary of PSU awards granted during the three months ended March 31, 2025, is as follows:Grant DateShares (000’s)Performance PeriodMetricsGrant Date Fair ValueMarch 1, 202514