Company: AIRJW
Filing Date: 2025-05-05
Form Type: 424B3
Source: 0001213900-25-039770
Chunk: 219

Company: AirJoule Technologies Corp.
Filing Date: 2025-05-05
Form: 424B3
Chunk 219
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holders exercised their options to purchase a total of 67,495 shares of Class A common stock, as converted, for a total purchase
price of $33,073.

In the three months ended December 31,
2024, three Legacy Montana option holders exercised their options to purchase a total of 85,496 shares of Class A common stock, as
converted, for a total purchase price of $37,453.

As of December 31, 2024, of the 1,174,089
Legacy Montana options that are outstanding, 594,955 options expire on December 7, 2030, 71,395 options expire on March 15,
2031, 234,160 options expire on April 4, 2030, and 273,579 options expire on April 8, 2031.

<div align='center'>F-27

AIRJOULE TECHNOLOGIES CORPORATION
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS</div>

Note 11 — SHARE-BASED COMPENSATION
(cont.)

2024 Incentive Award Plan

On March 8, 2024, the holders of XPDB
common stock considered and approved the Montana Technologies Corporation’s 2024 Incentive Award Plan (the “Incentive
Plan”) and Montana Technologies Corporation’s 2024 Employee Stock Purchase Plan (the “ESPP” and together
with the Incentive Plan, the “Incentive Plans”), which became effective immediately upon the Closing on March 14,
2024. Under the Incentive Plans, the Company may grant equity and equity-based awards to certain employees, consultants and
non-employee directors award, such as, (a) Incentive Stock Options (granted to employees only), (b) Non-Qualified Stock
Options (“NSOs”), (c) Stock Appreciation Right, (d) Restricted Stock Units (e) Restricted Stock
(“RSUs”), (f) dividend equivalents and (g) other stock and cash-based awards of the Company (“Incentive
Award”). The sum of any cash compensation, or other compensation, and the value (determined as of the grant date in accordance
with ASC 718, or any successor thereto) of awards granted to a non-employee director as compensation for services as a
non-employee director during any fiscal year of the Company may not exceed $500,000 (or, with respect to the first fiscal year of
the