Company: PFSA
Filing Date: 2025-08-21
Form Type: S-1/A
Source: 0001213900-25-079401
Chunk: 278

Company: Profusa, Inc.
Filing Date: 2025-08-21
Form: S-1/A
Chunk 278
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 $         | 0.001 |     |             |
| Options cancelled/forfeited                      |     |                   — |     |         — |   |     | $         |     — |     |             |
| Balances at December 31, 2024                    |     |           1,560,091 |     | 2,972,055 |   |     | $         |  0.40 |     |        3.00 |
| Exercisable at December 31, 2024                 |     |                     |     | 1,548,910 |   |     | $         |  0.49 |     |        4.32 |
| Vested and expected to vest at December 31, 2024 |     |                     |     | 2,972,055 |   |     |           |  0.40 |     |        3.00 |

There were no new options granted or exercised during the year ended December 31, 2024. Intrinsic values are calculated as the difference between the exercise price of the underlying options and the fair value of the common stock for the options that had exercise prices that were lower than the fair value per share of the common stock on the date of exercise.

The total fair value of options vested for the year-ended December 31, 2024 was less than $ million.

As of December 31, 2024, the total unrecognized stock-based compensation expense for stock options was less than $ million which is expected to be recognized over a weighted-average period of years. On the grant date, the Company estimates the fair value of stock options using the Black Scholes option-pricing model. The fair value of stock options is being recognized on a straight-line basis over the requisite service period of the awards.

Nonrecourse Promissory Notes to Early Exercise Stock Options

In 2018, one of the Company’s executives early exercised of his stock options by issuing a promissory note to the Company. As the promissory note is nonrecourse this exercise of stock options with a promissory note is not considered a substantive exercise for accounting purposes. Therefore, no receivable for the promissory note was recorded on the Company’s balance sheet. This arrangement was accounted for as modifications to the original stock options which were exercised by issuing a promissory note. Such modification did not result in additional stock-based compensation expense. As of December 31, 2024 these