Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 604

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 604
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     8,850  
     220,058 

    (1)
    The  amounts reported in this column do not reflect
    dollar amounts actually received by our named executive officers. Instead, these amounts reflect the grant date fair value of each
    stock option award granted, computed in accordance with the provisions of FASB ASC Topic 718. See Note 10, Stock Incentive Plans
    to the accompanying consolidated financial statements included elsewhere in this Annual Report for the assumptions used in calculating
    the grant date fair value of the stock option awards reported in this column.

(2)Consists
                                            of Company 401(k) matching contributions.

(3)Consists
                                            of a special cash bonus in recognition of exceptional performance by Ms. Smith in 2024.

Existing
NEO Employment Agreements

Allen
Salmasi, as founder and Chief Executive Officer of Veea and largest stockholder, has largely controlled all significant decisions of
Veea since its inception. Because of this unique role, Mr. Salmasi previously was not a party to an employment agreement or letter agreement
with Veea; and prior to December 2024, Mr. Salmasi received no salary or equity awards since Veea’s inception.

Ms. Smith does not have a
written employment agreement with Veea.

On December 31, 2019, Private
Veea entered into an offer letter with Mr. Tubinis, pursuant to which Mr. Tubinis began serving as Chief Commercial Officer. The offer
letter provides for an indefinite term of employment. Pursuant to the offer letter, Mr. Tubinis was entitled to an initial annual salary
of $210,000.

Each of the NEOs is eligible
to participate in a number of Company-sponsored benefit plans, programs and arrangements.

73

Outstanding
Equity Awards at Year-End

The
following table provides information on outstanding equity awards as of December 31, 2024 to our NEOs.

Stock
Awards 

    Name 
    Number
    of shares or units of stock that have not vested

(#)
  
    Market
    value of shares or units of stock that have not vested

($)
  
    Equity
    incentive plan awards: Number of unearned shares, units or other rights that have not vested

(#)
  
    Equity
    Incentive Plan awards: Market or payout value of unearned shares, units or other rights that have not vested