Company: FGI
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001628280-25-052375
Chunk: 69

Company: FGI Industries Ltd.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 69
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 a stock ownership interest in the Company through periodic payroll deductions that will be applied towards the purchase of ordinary shares at a discount from the then-current market price. The board set the maximum aggregate number of ordinary shares reserved and available pursuant to the 2021 Equity Plan at 1,500,000 shares. The number of ordinary shares reserved for issuance under our 2021 Equity Plan will automatically increase on the first day of each year, commencing on January 1, 2022 and ending on (and including) January 1, 2031, in an amount equal to the lesser of (a) 4.5% of the total number of ordinary shares outstanding on December 31 of the immediately preceding calendar year, (b) 600,000 ordinary shares, or (c) such lesser number of shares as determined by the Board. The Equity Plan became effective on September 28, 2021.The Company believes the options or awards granted contain an explicit service condition and/or performance condition. Under ASC 718-10-55-76, if the vesting (or exercisability) of an award is based on the satisfaction of both a service and performance condition, the entity must initially determine which outcomes are probable and recognize the compensation cost over the longer of the explicit or implicit service period. The following table summarizes the Company's share option and RSU activity for the nine months ended September 30, 2025:Share OptionsRSUsNumber ofOptionsWeightedAverageExercisePriceWeightedAverageGrant DateFairValueWeightedAverageRemainingContractualTermAverageIntrinsicValueNumber of RSUsWeightedAverageGrant DateFairValueUSDUSDYearsUSDUSDBeginning of period234,283$9.10 $4.81 117,912$13.53 Granted208,640$3.79 $2.75 166,766$4.05 Canceled(105,927)$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