Company: VEEAW
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032215
Chunk: 326

Company: VEEA INC.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 326
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 in December 2024.

Equity
Compensation 

Veea maintains the Veea Inc.
2024 Incentive Award Plan (the “2024 Incentive Plan”), which became effective upon the Closing. 4,460,437 shares of Common
Stock were initially reserved for issuance of awards under the 2024 Incentive Plan (the “Initial Limit”). The Initial Limit
is subject to increase over a ten-year period. The 2024 Incentive Plan provides for the grant of stock options, which may be ISOs or non-statutory
stock options (“NSOs”), stock appreciation rights (“SARs”), restricted shares, restricted stock units and other
stock or cash-based awards that the administrator determines are consistent with the purpose of the 2024 Incentive Plan. As of December
31, 2024, the Company had 111,364 shares available for issuance under the 2024 Incentive Plan. 

Veea also maintains the 2024 Employee Stock Purchase Plan (the “ESPP”),
which became effective upon the Closing. An aggregate of 1,070,603 shares of Common Stock have been reserved for issuance under the ESPP,
which represents 3% of the aggregate number of shares of the Company’s common stock outstanding immediately after the Closing. This
amount is subject to increase each year over a ten-year period. The ESPP provides eligible employees with an opportunity to purchase Common
Stock from the Company at a discount through accumulated payroll deductions. The first purchase period has not begun as of December 31,
2024. Under the terms of the ESPP, the purchase price per share cannot be less than 85% of the lower of the fair market value per share
of our common stock on either the offering date or on the purchase date.

Health
and Welfare Plans

Our
NEOs are eligible to participate in the employee benefit plans that we offer to our employees generally, including medical, dental, vision,
life and accidental death and dismemberment, and short- and long-term disability benefits. 

Retirement
Plan

In 2024 and 2023, as applicable the named executive officers participated
in a 401(k) retirement savings plan maintained by us. The Internal Revenue Code of 1986, as amended (the “Code”) allows eligible
employees to defer a portion of their compensation, within prescribed limits, on a pre-tax basis through contributions to the 401(k) plan.
In 2024 and