Company: SDAWW
Filing Date: 2025-12-22
Form Type: 6-K
Source: 0001213900-25-124170
Chunk: 24

Company: SunCar Technology Group Inc.
Filing Date: 2025-12-22
Form: 6-K
Chunk 24
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                                      |     |          |          - |     |                  |     - |
| Expired                                        |     |          |          - |     |                  |     - |
| Warrants outstanding, as of September 30, 2025 |     |          | 12,431,674 |     | $                | 10.72 |
| Warrants exercisable, as of September 30, 2025 |     |          | 12,431,674 |     | $                | 10.72 |

As of September 30, 2025, the Company had
warrants outstanding to purchase Class A Ordinary Shares with weighted average exercise price of $ per share and remaining
contractual lives of years.

| 11. | SHARE-BASED COMPENSATION |

Earnout Shares

The consideration for the Business Combination
included earnout share to the management as follows (“Earnout Shares”):

| (1) | 1,600,000 Class A Ordinary Shares if the Group’s revenue equals or exceeds $258,000 for the fiscal year ending December 31, 2022, as reflected on the audited consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2022; |

| (2) | 1,600,000 Class A Ordinary Shares if the Group’s revenue equals or exceeds $352,000 for the fiscal year ending December 31, 2023, as reflected on the audited consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2023; and; |

| (3) | 1,600,000 Class A Ordinary Shares if the Group’s revenue equals or exceeds $459,000 for the fiscal year ending December 31, 2024, as reflected on the audited consolidated financial statements of the Company as of and for the fiscal year ended December 31, 2024. |

The Business Combination was completed on May
17, 2023. The Earnout Shares related to the performance condition in 2022, attributable to pre-combination vesting, is substantially part
of the consideration in the exchange for the Company. The Earnout Shares related to business performance in 2023 and 2024 are accounted
for as share-based compensation under ASC718, using the graded vesting method over the applicable vesting period based on the fair value
of the Earnout Shares of $ per share on the grant date.

For the nine months