Company: DGLY
Filing Date: 2025-02-14
Form Type: 424B4
Source: 0001493152-25-006704
Chunk: 278

Company: DIGITAL ALLY, INC.
Filing Date: 2025-02-14
Form: 424B4
Chunk 278
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 the Plans, unvested shares of restricted stock awards may be forfeited upon the termination of service to or employment with the Company, depending upon the circumstances of termination. Except for restrictions placed on the transferability of restricted stock, holders of unvested restricted stock have full stockholder’s rights, including voting rights and the right to receive cash dividends.

A summary of all restricted stock activity under the Plans for the nine months ended September 30, 2024 is as follows:

SCHEDULE OF RESTRICTED STOCK ACTIVITY

|                                       |     | Number of         
 Restricted shares |         |   |     | Weighted average grant date 
 fair value                  |        |   |
|:--------------------------------------|:----|:------------------|--------:|:--|:----|:----------------------------|-------:|:--|
| Nonvested balance, December 31, 2023  |     |                   |  53,875 |   |     | $                           |  11.27 |   |
| Granted                               |     |                   |  80,197 |   |     |                             |   2.12 |   |
| Vested                                |     |                   | (32,250 | ) |     |                             | (10.87 | ) |
| Forfeited                             |     |                   | (51,072 | ) |     |                             |  (2.91 | ) |
| Nonvested balance, September 30, 2024 |     |                   |  50,750 |   |     | $                           |   5.48 |   |

The Company estimated the fair market value of these restricted stock grants based on the closing market price on the date of grant. As of September 30, 2024, there were $ 88,399of total unrecognized compensation costs related to all remaining non-vested restricted stock grants, which will be amortized over the next forty-two months in accordance with their respective vesting scale.

The nonvested balance of restricted stock vests as follows:

SCHEDULE OF NON-VESTED BALANCE OF RESTRICTED STOCK

| Years ended                                      
 2024 (October 1, 2024 through December 31, 2024) 
 2025                                             |     | Number of Shares |      - 
 35,250 |
|:-------------------------------------------------|:----|:-----------------|-------:|
| 2026                                             |     |                  |  6,500 |