Company: FLDDW
Filing Date: 2025-01-14
Form Type: S-4/A
Source: 0001213900-25-003167
Chunk: 472

Company: Fold Holdings, Inc.
Filing Date: 2025-01-14
Form: S-4/A
Chunk 472
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”) was adopted by the Board of Directors and approved by Company Stockholders on August20, 2019. The purpose of this Equity Plan is to offer select Participants (defined as employees, consultants, or outside directors) the opportunity to acquire equity in the Company through the awards of Options, Restricted Stock Awards (“RSAs”), Stock Appreciation Rights, Restricted Stock Units (“RSUs”), and Other Stock Awards (collectively and individually, “Awards”). RSUs are Awards of an unfunded and unsecured right to receive Shares (or cash or a combination of Shares and cash, as determined in the sole discretion of the Board) upon settlement of the Award. RSAs are Awards of restricted shares of Company common stock. Each Award may or may not be subject to vesting. Vesting occurs upon satisfaction of the conditions specified in each individual award agreement. As of December31, 2023, the Company has not issued any Options, Stock Appreciation Rights, or Other Stock Awards through the Equity Plan. Restricted Stock Units The Company’s RSUs that have been awarded as of December31, 2023 have two vesting conditions: a service condition that is typically satisfied based on the grantee’s continuous service over 48months with a one -yearcliff vesting requirement (though some RSUs have been granted with different service -vestingschedules, including without the one -yearcliff), and a performance condition related to the consummation of a liquidity event defined in the award agreements as the first to occur of a change of control or the first sale of common stock pursuant to an IPO. Compensation expense related to the RSUs will be recognized at such time that a liquidity event is effected. Unrecognized compensation expense as of December31, 2023 and 2022, respectively, was $0.8million and $0.1million for the RSUs. The weighted -averageperiod over which unrecognized compensation expense as of December31, 2023 and 2022 will be recognized is not estimable, as the performance condition for the recognition of RSU expense is not considered probable to occur until consummation of a liquidity event. The weighted -averagegrant date fair value during the year ended December31, 2023 was $2.56 per share. Restricted Stock Awards The Company’s awarded RSAs are not subject to any performance condition vesting requirements and are instead subject only to service conditions. We recorded a nominal amount of share -basedcompensation expense related to RSAs for each of the years ended