Company: AIRJW
Filing Date: 2025-03-25
Form Type: 10-K
Source: 0001013762-25-002263
Chunk: 341

Company: AirJoule Technologies Corp.
Filing Date: 2025-03-25
Form: 10-K
Item: Item 1A
Chunk 341
---
 which
became effective immediately upon the Closing on March 14, 2024. Under the Incentive Plans, the Company may grant equity and equity-based
awards to certain employees, consultants and non-employee directors award, such as, (a) Incentive Stock Options (granted to employees
only), (b) Non-Qualified Stock Options (“NSOs”), (c) Stock Appreciation Right, (d) Restricted Stock Units (e) Restricted Stock
(“RSUs”), (f) dividend equivalents and (g) other stock and cash-based awards of the Company (“Incentive Award”).
The sum of any cash compensation, or other compensation, and the value (determined as of the grant date in accordance with ASC 718, or
any successor thereto) of awards granted to a non-employee director as compensation for services as a non-employee director during any
fiscal year of the Company may not exceed $500,000 (or, with respect to the first fiscal year of the Post-Combination Company during which
a non-employee director first serves as a non-employee director, $1,000,000).

The
Company recorded share-based compensation expense in the following expense categories of its accompanying consolidated statements of
operations:

    Year
    Ended December 31, 

    2024  
    2023 
  
    General
    and administrative 
    $1,303,546  
    $52,000 
  
    Research
    and development 
     20,390  
     — 
  
    Total
    share-based compensation 
    $1,323,936  
    $52,000 

Total
share-based compensation includes expense for awards granted to non-employee equity method investees that are fully reimbursed by the
AirJoule JV per the statement of work as described further in Note 9 – Related Party Transactions. As of the year ended
December 31, 2024, $0.1 million is to be reimbursed by the AirJoule JV and is recorded as a due from related party receivable on the
consolidated balance sheets and within contra-expense accounts on the consolidated statements of operations.

Stock
Options

The
following table summarizes option activity for the year ended December 31, 2024:

     Options   Weighted Average Exercise Price   Weighted Average Remaining Life (Years)   Balance at January 1