Company: LGCY
Filing Date: 2025-09-25
Form Type: 10-K
Source: 0001493152-25-014945
Chunk: 585

Company: Legacy Education Inc.
Filing Date: 2025-09-25
Form: 10-K
Item: Item 1C
Chunk 585
---
 the options are exercised or expire). The Company estimated a volatility
factor utilizing a weighted average of comparable published volatilities of its peers. The Company applied the simplified method to determine
the expected term of stock-based compensation grants.

In
prior years, the Company had granted time vested options to purchase shares of common stock with exercise prices ranging from $0.52 -
$1.80 on the date of grant by the Board. These options vest ratably over a period of three years and expire ten years from the date of
grant and the fair value of these options were calculated using the Black-Scholes Merton model.

 On
April 1, 2024, the Company granted stock options to purchase an aggregate of 1,425,171 shares of its common stock at an exercise price
of $3.74 per share to employees, directors, consultants and non-employee service providers pursuant to its 2021 Equity Incentive Plan.

On
September 27, 2024, the Company granted stock options to purchase an aggregate of 250,000 shares of its common stock at an exercise price
of $4.00 per share to employees, directors, consultants and non-employee service providers pursuant to its 2021 Equity Incentive Plan.
These options vest ratably over a period of three years and expire ten years from the date of grant and the fair value of these options
were calculated using the Black-Scholes-Merton model.

On
April 2, 2025, the Company granted stock options to purchase an aggregate of 479,648
shares of its common stock at an exercise price of $7.25
per share to employees and directors pursuant to its 2021 Equity Incentive Plan.
These options vest ratably over a period of three years and expire ten years from the date of grant and the fair value of these
options were calculated using the Black-Scholes-Merton model.

    F-20

 Legacy
Education Inc.

Notes to Consolidated Financial Statements

For Fiscal Years ended June 30, 2025 and 2024

A
summary of the activity related to stock option units granted is as follows:

Summary of Stock Option
Units Granted

    Summary of Stock Options Outstanding 

    Total Options  
    Weighted Average Exercise Price per Option  
    Weighted Average Remaining Contractual Term (Years) 
  
    Outstanding as of June 30, 2023 
     400,000