Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 167

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part II, Item 8
Chunk 167
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,927)$7.50 $4.22 —Exercised or released—(12,444)$19.40 End of period336,996$6.32 $3.72 8.64$456,328 272,234$8.34 Vested and exercisable105,216$11.15 $5.55 7.03$— The table above gives retroactive effect to the Reverse Share Split of the Preference Shares and Ordinary Shares at a ratio of 1-for-5 that became effective July 31, 2025. See Note 9 “Shareholders' Equity” for details.For the nine months ended September 30, 2025 and 2024, the total fair value of options awarded was $572,745 and $573,163, respectively.

23

The aggregate intrinsic value in the table above represents the difference between the exercise price of the awards and the fair value of the underlying Ordinary Shares at each reporting date, for those awards that had exercise price below the estimated fair value of the relevant Ordinary Shares. Fair value of optionsThe Company used the Black-Scholes simplified method for the nine months ended September 30, 2025 and 2024. The assumptions used to value the options granted to employees were as follows:April 2025March 2025April 2024March 2024 Risk-free interest rate (%)4.24 4.05 4.54 4.21 Expected volatility range (%)83.92 82.15 55.32 55.11 Fair market value per ordinary share as at grant dates$2.45 $4.05 $6.60 $7.50 The table above gives retroactive effect to the Reverse Share Split of the Preference Shares and Ordinary Shares at a ratio of 1-for-5 that became effective July 31, 2025. See Note 9 “Shareholders' Equity” for details.The risk-free interest rate for periods within the contractual life of the options is based on the U.S. Treasury yield curve in effect at the time of grant for a term consistent with the contractual term of the awards. Expected volatility is estimated based on the volatility of ordinary shares of the Company. The expected exercise multiple is based on management’s estimation, which the Company believes is representative of the future.The Company has elected to recognize share-based compensation expense using a straight-line method for all the employee equity awards granted with graded vesting based