Company: TALK
Filing Date: 2025-03-12
Form Type: 10-K
Source: 0000950170-25-038107
Chunk: 172

Company: Talkspace, Inc.
Filing Date: 2025-03-12
Form: 10-K
Item: Item 8
Chunk 172
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 Repurchase Program On February 22, 2024, the Company announced that its Board of Directors approved a share repurchase program to authorize the repurchase of up to $15.0 million of the currently outstanding shares of the Company’s common stock over a period of  twenty-four months beginning on March 1, 2024 (the “Share Repurchase Program”). On August 1, 2024, the Company’s Board  of Directors amended the Share Repurchase Program to authorize the Company to repurchase up to an additional $25.0 million

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 of its common stock. The Share Repurchase Program will remain in effect until the earliest (1) the total authorized dollar amount of shares is  repurchased or (2) August 1, 2026.During the year ended December 31, 2024, the Company repurchased and retired an aggregate of 3,911,259 shares  of its common stock for a total consideration of $11.0 million ($2.81 per share). As of December 31, 2024, $29.0 million  remained available under the Share Repurchase Program. Such purchases will be at times and in amounts as the Company deems appropriate, based on factors such as price, market  conditions, corporate and regulatory requirements, constraints specified in any Rule 10b5-1 trading plans, alternative  investment opportunities and other business considerations. All shares repurchased will be retired. The program does not  obligate the Company to repurchase any dollar amount or number of shares, and may be modified, suspended, or discontinued  at any time at the Company’s discretion without prior notice.

NOTE 10. STOCK-BASED COMPENSATIONThe Company may grant cash and equity incentive awards to officers, employees, directors, consultants and service providers in order to attract, motivate and retain talent under the Talkspace’s 2021 Incentive Award Plan (the “2021 Plan”).All stock-based awards are measured based on the grant date fair value and are recognized on a straight-line basis in the Company’s consolidated statements of income over the requisite service period (generally requiring a four-year vesting period).Stock OptionsStock options generally vest over a four-year period and are exercisable a maximum period of ten years. A summary of the Company’s stock option activity for the year ended December 31, 2024 is as follows: 

        Year Ended December 31, 2024

        Number ofoptions

        Weightedaverageexercise