Company: NDRA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001654954-25-009643
Chunk: 91

Company: ENDRA Life Sciences Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 91
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Number of  Exercise  Contractual   Options  Price  Term (Years) Balance outstanding at December 31, 2024  278  $30,628.90   5.35 Granted  -   -   - Exercised  -   -   - Forfeited  -   -   - Cancelled or expired  (12)  120,055.83   - Balance outstanding at June 30, 2025  266  $26,594.61   5.05 Exercisable at June 30, 2025  228  $29,809.64   4.63 

 12Table of Contents

 Restricted Stock Units      On June 11, 2025, the Company granted a total of 161,527 restricted stock units ("RSUs") under its Omnibus Plan. The fair value per share (closing stock price) was $3.37.  The grants included both standard RSUs issued to members of the Board of Directors and performance-based RSUs ("PBRSUs") issued to employees. The PBRSUs are subject to both service and performance vesting conditions. During the three months ended June 30, 2025, the Company recognized $39,530 in stock-based compensation expense related to these RSU and PBRSU grants. This expense is included in total operating expenses in the condensed consolidated statements of operations. Unrecognized stock-based compensation expense related to these RSUs will be recognized over the remaining vesting period, which is one year for standard RSUs and subject to performance conditions for PBRSUs. As of June 30, 2025, the total compensation expense to be recognized in future periods is $504,816 over the next two years. Restricted Common Stock On November 30, 2023, the Company issued 115 shares of restricted common stock (the “Restricted Stock”) of the Company to PatentVest, Inc. (“PatentVest”) pursuant to a Restricted Stock Agreement and Consulting Services Agreement, each with PatentVest, in exchange for certain services related to the Company’s patent portfolio. The fair value of the Restricted Stock was determined to be $200,485 using the market price of the stock on the date of the issuance. The Restricted Stock is subject to a vesting schedule pursuant to the Restricted