Company: LDWY
Filing Date: 2025-08-28
Form Type: 10-KT
Source: 0001558370-25-011807
Chunk: 72

Company: LENDWAY, INC.
Filing Date: 2025-08-28
Form: 10-KT
Chunk 72
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 -5,869 | ​ |                       | 7.66 |
| Unvested shares at December 31, 2023 |   |                — | ​ | $                     |    — |
| Granted                              |   |           27,000 | ​ | ​                     | 5.64 |
| Vested                               |   |                — | ​ |                       |    — |
| Unvested shares at December 31, 2024 |   |           27,000 | ​ | $                     | 5.64 |
| Granted                              |   |                — | ​ | ​                     |    — |
| Vested                               |   |           -9,000 | ​ |                       | 5.64 |
| Unvested shares at June 30, 2025     |   |           18,000 | ​ | $                     | 5.64 |

As of June 30, 2025 and December 31, 2024, there was $ and $, respectively, of unrecognized compensation costs related to outstanding restricted stock, which is expected to be recognized over the remaining average vesting period of approximately years.

Employee Stock Purchase Plan. The Company has an Employee Stock Purchase Plan (the “ESPP”) that enables employees to contribute up to % of their base compensation toward the purchase of the Company’s common stock at % of its market value on the first or last day of the year. Participants purchased , , and shares under the ESPP during the six months ended June 30, 2025, calendar year 2024, and calendar year 2023, respectively. At June 30, 2025, shares were reserved for future employee purchases of common stock under the ESPP. For the six months ended June 30, 2025 and calendar years 2024 and 2023, the Company recognized $, $--, and $, respectively, of stock-based compensation expense related to the ESPP that was recognized in the continuing operations.

F-23

Dividends.The Company has not historically paid dividends, other than one-time dividends declared in 2011 and 2016. The Company intends to retain earnings from operations for use in advancing our business strategy; however, the Company may consider special dividends in the future. 12. Related Party Note Payable . On August 15, 2024, the Company entered into an unsecured Delayed Draw Term Note (the “Note”) with Air T Inc. (Air T) pursuant to