Company: LGCY
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022296
Chunk: 134

Company: Legacy Education Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 134
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30, 2025 and 2024

A
summary of the activity related to vested and unvested stock option units granted is as follows:

Summary
of Vested and Unvested Stock Options Units Granted

    Options
    Outstanding  
    Weighted Average Exercise
                                            Price  
    Weighted Average
                                            Grant Date Fair Value  
    Average Remaining Contractual Life
                                            (Years) 

    Balance – June 30, 2025, unvested 
     882,453  
    $5.54  
    $3.40  
     9.36 
  
    Options issued 
     -  
     -  
     -  
     - 
  
    Options vested 
     (97,270) 
     5.24  
     3.13  
     10.00 
  
    Options expired 
     -  
     -  
     -  
     - 
  
    Options exercised 
     -  
     -  
     -  
     - 
  
    Balance – September 30, 2025, unvested 
     785,183  
    $5.58  
    $3.42  
     9.12 

The
Company valued options issued in April 2024 using the Black Scholes model utilizing volatility 45%, and a risk-free rate of 4.18%. The
fair value of the options was $1.84 per option.

The
Company valued options issued in September 2024 using the Black Scholes model utilizing volatility 45%, and a risk-free rate of 3.75%.
The fair value of the options was $1.94 per option.

The
Company valued options issued in April 2025 using the Black Scholes model utilizing volatility 55%, and a risk-free rate of 4.01%. The
fair value of the options was $4.05 per option.

The
Company recorded share-based compensation expense of $269,246 and $67,031 during the three months ended September 30, 2025 and 2024,
respectively, which is included in educational services in the consolidated income statements. Unamortized compensation expense associated
with unvested options was $562,959 and $832,205 as of September 30, 2025 and June 30, 2025