Company: XTIA
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001213900-25-032213
Chunk: 369

Company: XTI Aerospace, Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 2
Chunk 369
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2024  6/12/2024   6,563   Chief Executive Officer of the XTI Aerospace, Inc. Real-Time Location System Division  6/12/2024  6/12/2024   3,900   Chief Strategy Officer of XTI Aerospace, Inc.  9/19/2024  8/1/2024   4,688   Chief Legal Officer of XTI Aerospace, Inc.  10/28/2024  10/28/2024   4,688   Total Granted         31,089  

The
following assumptions were used in estimating the fair values of options awarded during the year ended December 31, 2024:

     For
                                            the Year Ended
                                            December 31, 2024 
  
    Fair value of common stock 
     $10.75 - $118.25 
  
    Exercise price 
     $10.75 - $118.25 
  
    Expected term 
     6 years 
  
    Volatility 
     95.06% -103.3% 
  
    Risk-free interest rate 
     3.51% - 4.43% 
  
    Dividend yield 
     —%

During
the year ended December 31, 2023, Legacy XTI granted 1,089 stock options to members of its management team, which vest based on the
achievement of certain performance-based conditions as outlined in the option award agreements. The exercise price of the stock options
granted to the management team was $4,677.36.

The
following assumptions were used in estimating the fair values of options awarded during the year ended December 31, 2023:

     For the Year Ended December 31, 2023   Fair value of common stock  $4,677.36   Exercise price  $4,677.36   Expected term   5 years   Volatility   74.10%  Risk-free interest rate   3.54%  Dividend yield   —% 

Stock
Option Exercises

To induce option holders to exercise stock options ahead of the XTI
Merger so to assist the Company in qualifying for a listing on the Nasdaq Capital Market, Legacy XTI entered into exercise letter agreements
with several option holders in February 2024