Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 207

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1
Chunk 207
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    Exercise Price  ($) 
  
    June 6, 2024 
     651,737(3) 
     10.23 
  
    September 9, 2024 (2) 
     177,747  
     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 employee’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. 

  (3) 7,900 options were forfeited during the year ended December 31, 2024 which resulted in a reversal of share-based compensation expense of $2,667 as the Company accounts for forfeitures as they occur. 

    Non-employee Directors

    Grant Date 
    NSO Options (1) (#)  
    Exercise Price  ($) 
  
    June 6, 2024 
     99,540  
     10.23 

  (1) These NSOs vest and become exercisable in full on 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