Company: GCTS
Filing Date: 2025-03-26
Form Type: 424B3
Source: 0000929638-25-001281
Chunk: 144

Company: GCT Semiconductor Holding, Inc.
Filing Date: 2025-03-26
Form: 424B3
Chunk 144
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500 RSUs, of which 329,500 RSUs vest in four equal installments subject to continuous service, and 300,000 RSUs vest quarterly between April 2025 and ending February 2026.

71 GCT SEMICONDUCTOR HOLDING, INC. Notes to Consolidated Financial Statements

RSUs outstanding under the 2024 Plan were as follows (in thousands, except per share amounts):

|                                     |     | Number of RSUs 
 Outstanding    |        |   |     | Weighted        
 Average Grant   
 Date Fair Value |      |
|:------------------------------------|:----|:---------------|-------:|:--|:----|:----------------|-----:|
| Balance as of December 31, 2023     |     |                |  2,100 |   |     | $               | 1.15 |
| Reverse recapitalization            |     |                | (1,708 | ) |     |                 | 5.01 |
| Balances as of December 31, 2023(1) |     |                |    392 |   |     | $               | 6.16 |
| Granted                             |     |                |    921 |   |     |                 | 2.77 |
| Vested                              |     |                |    (98 | ) |     |                 | 6.16 |
| Cancelled                           |     |                |     (1 | ) |     |                 | 6.16 |
| Balance as of December 31, 2024     |     |                |  1,214 |   |     | $               | 3.59 |

(1) Amounts as of December 31, 2023 differ from those in prior year consolidated financial statements as they were retrospectively adjusted as a result of the accounting for the Business Combination (see Note 3).

During the years ended December 31, 2024 and 2023, the Company recognized $1.8 million and less than $0.1 million of stock-based compensation related to the outstanding RSUs. As of December 31, 2024, there was $3.2 million of unrecognized compensation cost related to RSUs, which is expected to be recognized over a weighted average period of 2.5 years. Any unvested RSUs are forfeited upon separation from the Company. Forfeitures are accounted for as they occur. Stock-Based Compensation

The following table summarizes stock-based