Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1905

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 1905
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 in the employee benefit cost and apportioned basis respective functions.

The fair value of options granted is considered as the market price
of the Common Stock on the grant date.

The movement in number of stock-based
options outstanding and their related weighted average exercise price for the 2023 Equity Incentive Plan are as follows:

    2025  
    2024 

    No. of options  
    Weighted average exercise price  
    No. of options  
    Weighted average exercise price 
  
    Outstanding at the beginning of the year 
     -  
    $         -  
          -  
    $       - 
  
    Granted during the year 
     17,966  
     -  
     -  
     - 
  
    Outstanding at the end of the period 
     17,966  
        
     -  

    Exercisable at the end of the period 
     17,966  
     -  
     -  
     - 
  
    Unvested at the end of the period 
     -  
     -  
     -  
     - 

The weighted average grant date fair
value of stock options granted during the year ended March 31, 2025 and March 31, 2024 were $2.92 and $NIL per share, respectively.

Weighted average remaining life (in
years)

    As at 
     March 31,
 2025  
     March 31,
 2024 
  
    Vested options 
     -  
     - 
  
    Unvested options 
     -  
     - 

The expected life of the stock is based
on historical data and current expectations and is not necessarily indicative of exercise patterns that may occur. The expected volatility
reflects the assumption that the historical volatility over a period similar to the life of the options is indicative of future trends,
which may also not necessarily be the actual outcome.

F-44

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

31Related Party Transactions

    Key managerial personnel (KMP)

    Gregory Bradford Moran 
     
    Chief Executive Officer & Director (until June 20, 2024)
  
    Hiroshi Nishijima
     
    Chief Executive Officer (