Company: XTIA
Filing Date: 2025-11-19
Form Type: 10-Q
Source: 0001213900-25-112615
Chunk: 177

Company: XTI Aerospace, Inc.
Filing Date: 2025-11-19
Form: 10-Q
Item: Part I, Item 8
Chunk 177
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EROSPACE, INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

See below for a summary of the stock options granted under the 2011,
2017 and 2018 plans:

     Number of Shares   Weighted Average Exercise Price   Weighted Average Remaining Contractual Life (Years)   Aggregate Intrinsic Value  (In millions)   Beginning balance as of January 1, 2025   51,185   $455.00    9.3   $—   Granted   10,668,256    1.95             Exercised   —                  Expired   —                  Forfeited   (2,485)   2,476.56             Ending balance as of September 30, 2025   10,716,956   $3.54    9.9   $—                          Options vested and exercisable as of September 30, 2025   3,654,641   $4.63    9.9   $—  

The compensation committee of the Board approved awards of options
to certain Company executives under the 2018 Plan. Each option has an exercise price of $2.00 per share. The options vested 1/3rd
on the grant date with the remaining 2/3rd vesting in equal quarterly installments over two years starting from the grant date.
The options expire ten years from the grant date. Options were granted as follows:

  Grantee  Grant Date  Vesting Start Date  Options Granted   Chief Executive Officer of XTI Aerospace, Inc.  9/4/2025  9/4/2025   2,621,100   Chief Financial Officer of XTI Aerospace, Inc.  9/4/2025  9/4/2025   1,512,200   Chief Executive Officer of the XTI Aerospace, Inc. Real-Time Location System Division  9/4/2025  9/4/2025   78,000   Chief Operating Officer of XTI Aerospace, Inc.  9/4/202