Company: SLNH
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024045
Chunk: 45

Company: Soluna Holdings, Inc
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 45
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3, 2026, 33% on June 3, 2027 and
34% on June 3, 2028.

During
the three and six months ended June 30, 2024, the Company awarded the following under the 2021 Plan:

    Award Type 
    Number of Awards  
    Fair Value/Closing Market Price at Grant 

    Restricted Stock Awards – Common Stock 
     391,544  
    $1.52 
  
    Restricted Stock Awards – Common Stock 
     90,734  
    $2.41 
  
    Restricted Stock Awards – Preferred A Stock 
     1,892,300  
    $2.50 

     2,374,578  

During
the three and six months ended June 30, 2024, the Company awarded the following under the 2023 Plan:

    Award Type 
    Number of Awards  
    Fair Value/Closing Market Price at Grant 

    Restricted Stock Awards – Common Stock 
     610,234  
    $1.52 
  
    Restricted Stock Awards – Common Stock 
     57,255  
    $2.41 

     667,489  

25,309
of the restricted stock awards vest immediately, 2,022,246 of the restricted stock awards vest at separation from the Company, 690,223
of the restricted stock awards vest 33% on June 1 ,2024, 33% on June 1, 2025 and 34% on June 1, 2026, and 304,289 of the restricted stock
awards vest 33% on June 1, 2025, 33% on June 1, 2026 and 34% on June 1, 2027.

    29

No
options were granted under the 2021 Plan and the 2023 Plan for the three and six months ended June 30, 2025 and June 30, 2024.

During
April 2024, the Company cancelled certain vested Awards and modified the terms of certain unvested Awards, to permit different settlement
outcomes. The service period and vesting terms were changed at the time of modification. All such vested Awards were fully vested as
of the cancellation date and all compensation cost had been recognized. All such unvested equity awards were probable of vesting as of
the modification date