Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 1502

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 9B
Chunk 1502
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 the earlier of (i) the one year anniversary of the grant date and (ii) the date of the next annual shareholders’ meeting of the Company following the grant date, subject to the applicable non-employee director’s continued service through the applicable vesting date. 

    Non-employee Equity Method Investees

    Grant Date 
    NSO Options (1)  (#)  
    Exercise Price  ($) 
  
    June 6, 2024 
     65,832  
     10.23 
  
    September 9, 2024 (2) 
     376,560  
     10.23 

  (1) One-fourth of the total number of shares of Class A common stock subject to the NSOs vest and become exercisable on June 6, 2025, and one-sixteenth of the total number of shares of Class A common stock subject to the Option shall vest and become exercisable on each three (3)-month anniversary thereafter, subject to the applicable recipient’s continued service through the applicable vesting date  (2) The vesting commencement date for NSOs granted on September 9, 2024 is June 6, 2024. Per ASC 718-10-35-2, compensation cost for an award of share-based compensation is recognized over the requisite service period. The service period for these awards begins on grant date. The Company considered the requirement in ASC 718-10-35-8 when recognizing current period expense. 

The
fair value of the NSOs were determined using the Black-Scholes option-pricing model and were based on the following weighted average
assumptions: 

     Grant Date   Incentive Plan  June 6,  2024   September 9,  2024   Expected term - years   6.1    10.0   Expected volatility   29.5%   28.5%  Risk-free interest rate   4.2%   3.7%  Expected dividends   —    —  

F-25

Restricted
Stock Units

The
following table summarizes RSU activity for the year ended December 31, 2024:

    Awards  
    Weighted Average Grant Date Fair Value 
  
    Balance at January 1, 2024 
     —  
    $— 
  
    Granted