Company: GCTS
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0000950170-25-044438
Chunk: 217

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1B
Chunk 217
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 and     Marketing
     
    2024.2023.
     
    $303,100$296,517
     
    —.—.
     
    —.$32,901(10)
     
    —.—.
     
    —.—.
     
    —.—.
     
    $9,043(9)$5,272(11)
     
    $312,143.$334,690.

(1)Amount reflects 401(k) plan matching benefit of $10,703 and group term life insurance premium of $1,980.

(2)Amount reflects the grant date fair value of restricted stock units calculated in accordance with FASB ASC Topic 718.  On December 11, 2023, Mr. Schlaefer received an award of 12,804 restricted stock units under the Company’s 2011 Incentive Compensation Plan. The fair value of the restricted stock units is based on the fair market value of the Company’s Common Stock on the date of grant, which was $6.16. The restricted stock units vest in equal annual installments over a four (4) year period measured from December 11, 2023, subject to the terms of the award agreement.

(3)Amount reflects 401(k) plan matching benefit of $6,750 and group term life insurance premium of $1,405.

(4)Mr. Cheng commenced employment with the Company on March 18, 2024.

(5)Mr. Cheng’s 2024 salary reflects the amount he earned in 2024 beginning on his hire date on March 18, 2024.

(6)Amount reflects a sign-on bonus paid to Mr. Cheng in May 2024.

(7)Amount reflects the grant date fair value of restricted stock units calculated in accordance with FASB ASC Topic 718. On August 21, 2024, Mr. Cheng received an award of 76,000 restricted stock units under the Company’s 2024 Omnibus Incentive Compensation Plan. The fair value of the restricted stock units is based on the market price of the Company’s Common Stock on the date of grant, which was $3.46. The restricted stock units vest in equal annual installments over a four (4) year period measured from March 18, 2024, subject to the terms of the award agreement.

(8)Amount reflects 401(k) plan matching benefit of $6,413 and group