Company: ANY
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001591956-25-000006
Chunk: 19

Company: Sphere 3D Corp.
Filing Date: 2025-05-14
Form: 10-Q
Item: Part I, Item 1
Chunk 19
---
 on historical volatility of the Company’s common shares. The expected term of options granted was based on the simplified formula. The risk-free interest rate was based on the U.S. Treasury yield for a period consistent with the expected term of the option in effect at the time of the grant. The dividend yield assumption was based on the expectation of no future dividend payments. Option awards can be granted for a maximum term of up to 10 years. The assumptions used in the Black-Scholes model were as follows:Three MonthsEnded March 31,20252024Expected volatility—124.3%Expected term (in years)—3.5Risk-free interest rate—4.1%Dividend yield——The following table summarizes option activity:SharesSubject to OptionsWeighted-AverageExercisePriceWeighted-AverageRemainingContractualTerm (years)AggregateIntrinsicValue(in thousands)Options outstanding — January 1, 2025443,170 $5.11 Granted— $— Exercised— $— Forfeited(26,785)$12.60 Options outstanding — March 31, 2025416,385 $4.63 3.7$— Vested and expected to vest — March 31, 2025416,385 $4.63 3.7$— Exercisable — March 31, 2025283,085 $6.16 3.1$— The weighted average grant date fair values of options granted for the three months ended March 31, 2025 and 2024 was nil and $2.05 per share, respectively.Restricted Stock UnitsThe following table summarizes RSU activity: Number ofSharesWeighted AverageGrant Date Fair ValueOutstanding — January 1, 2025760,834 $1.98 Granted1,784,783 $0.85 Vested and released(11,719)$1.36 Forfeited(1,226,417)$1.28 Outstanding — March 31, 20251,307,481 $1.10 Vested and unreleased  — March 31, 2025409,817 $1.37 

17

The estimated fair value of RSUs was based on the closing market value of the Company’s common shares on the date of grant. RSUs typically vest over a period of 12 months to three years from the original date of