Company: JSDA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024179
Chunk: 16

Company: JONES SODA CO.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 16
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prior to the 2022 Plan) and respective grant agreements.

On
December 30, 2022, the Company entered into rescission agreements with certain non-employee directors and its Chief Executive Officer
and President, rescinding and canceling all RSUs granted during 2022, including shares issued upon RSU vesting in August 2022, without
consideration.

During
the three and six months ended June 30, 2025, the Company issued 699,493 common shares to settle the vested RSUs.

During
the three and six months ended June 30, 2025 and 2024, no RSUs were issued, vested, or canceled.

As
of June 30, 2025, and December 31, 2024, the Company had no RSUs outstanding.

    (c)
    Stock-based
    compensation expense:

Stock-based
compensation expense is recognized using the straight-line attribution method over the employees’ requisite service period. We
recognize compensation expense for only the portion of stock options or restricted stock expected to vest. Therefore, we apply estimated
forfeiture rates that are derived from historical employee termination behavior. If the actual number of forfeitures differs from those
estimated by management, additional adjustments to stock-based compensation expense may be required in future periods.

As
of June 30, 2025, we had unrecognized compensation expense related to stock options of $1.0 million to be recognized over
a weighted-average period of 5 years.

The
following table summarizes the stock-based compensation expense (in thousands):

 Schedule
of Stock-based Compensation Expense

    2025  
    2024  
    2025  
    2024 

    Three Months Ended June 30,  
    Six Months Ended June 30, 

    2025  
    2024  
    2025  
    2024 
  
    Stock options 
    $196  
    $198  
    $287  
    $348 
  
    Restricted stock 
     -  
     263  
     -  
     271 
  
    Allocated
    Stock-based compensation  
    $196  
    $461  
    $287  
    $619 

    Consolidated Statements of Operations account: 

    Selling and marketing 
     61  
     32  
     73