Company: XTIA
Filing Date: 2025-09-11
Form Type: 8-K/A
Source: 0001213900-25-086879
Chunk: 6

Company: XTI Aerospace, Inc.
Filing Date: 2025-09-11
Form: 8-K/A
Chunk 6
---
475,000 of consulting fees earned by Ancora Management Services, LLC, an entity owned and controlled
by Mr. Tapp (“Ancora”), and (ii) a grant of 50,000 stock options with an exercise price of $0.19 prior to the 1-for-250 reverse
stock split effective as of January 10, 2025, pursuant to a consulting agreement under which Mr. Tapp provided consulting services to
the Company from September 2024 through August 2025. Ancora will no longer receive consulting fees under the agreement; however, Mr. Tapp,
through Ancora, may receive certain discretionary bonuses to be paid in cash, unless requested by Ancora to be in stock options, based
on the achievement of certain financing targets and the identification and recruitment of candidates for the Board or corporate advisory
board.

Stock Option Awards

On September 4, 2025, theCompensation Committee approved the following awards of options to purchase the Company’s common stock (the “Options”) pursuant to theAmended and Restated XTI Aerospace, Inc.
2018 Employee Stock Incentive Plan: 2,621,100 Options were awarded to Scott Pomeroy, the Company’s Chief Executive Officer; 1,512,200 Options were awarded to Brooke Turk, the Company’s Chief Financial Officer; 1,512,200 Options were awarded to Tobin Arthur, the Company’s Chief Strategy Officer; 78,000 Options were awarded to Soumya Das, the Chief Executive Officer of the Company’s Real-Time Location System (RTLS) Division; and1,613,000 Options were awarded to Michael A. Tapp,
the Company’s Chief Operating Officer in accordance with Mr. Tapp’s Employment Agreement. Each Option has an exercise price of $2.00 per share. The Options have the following vesting schedule:one-third of the Options
vested immediately on the grant date and the remaining Options will vest in equal quarterly installments over a two year period. The Options expireten years after the grant date.

The foregoing description of the Option awards does not purport to be complete and is qualified in its entirety by reference to the full text of the form of Non-Qualified Stock Option Agreement filed as Exhibit 10.3 to the Company’sCurrent Report on Form 8-K filed with the SEC on August 21, 2025, a copy of which is filed as Exhibit 10.3 to this Current Report on Form 8-K and