Company: ABTC
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076632
Chunk: 40

Company: American Bitcoin Corp.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 40
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valued as of the grant date at $2.42 per share for a total of $946,000. The Company was under a binding agreement to merge with
Akerna as of the grant date. Therefore, the grant date fair value was estimated to be the per-share value based on the exchange
ratio defined in the Akerna Merger, as the Company believes that the Akerna trading is the most readily determined value in
accordance with ASC 718-10-55-10 to 12. Akerna is publicly traded (Nasdaq: GRYP). The equity compensation expense for the six months
ended June 30, 2025 amounted to approximately $17,000.

On February 23, 2023, the Company entered into
Independent Director agreements with two individuals. As part of the compensation for the agreements, the Company granted restricted stock
of 84,210 to each of the directors for a total of 168,419 shares of the Company’s common stock. The shares vest every six months
in six equal installments of 14,035 shares for a total of 28,070 shares. The equity award was valued as of the grant date at $3.36 per
share for a total of$328,000. The Company was under a binding agreement to merge with Akerna as of the grant date. Therefore, the grant
date fair value was estimated to be the per-share value based on the exchange ratio defined in the Akerna Merger, as the Company believes
that the Akerna trading is the most readily determined value in accordance with ASC 718-10-55-10 to 12. Akerna is publicly traded (Nasdaq:
GRYP). The equity compensation expense for the six months ended June 30, 2025 amounted to approximately $24,000.

24

Restricted common stock awards

On January 8, 2025, in connection with the Captus
Agreement, as a material inducement to their agreeing to become employees of the Company, the Company granted a restricted stock award
to each of Harry Andersen, Paul Connolly, Mark Taylor and Steve Giacomin (collectively, the “Restricted Stock Awards”). The
Restricted Stock Awards were intended to constitute “employment inducement awards” under the Nasdaq Stock Market Rules. The
aggregate restricted stock shares issued was 4,083,300. Each of the Restricted Stock Awards vests in three equal installments on the first
three annivers