Company: VLDXW
Filing Date: 2025-08-07
Form Type: S-1
Source: 0001641172-25-022475
Chunk: 252

Company: Velo3D, Inc.
Filing Date: 2025-08-07
Form: S-1
Chunk 252
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,020.00 |     | $                         |  7,940 |
| Balance as of December 31, 2023          |     |                  |  38 |   |     | $                     | 1,020.00 |     | $                         |  7,940 |
| Granted                                  |     |                  |  32 |   |     |                       |    49.35 |     |                           |  1,549 |
| Released                                 |     |                  | (38 | ) |     |                       |   428.10 |     |                           |  1,276 |
| Cancelled                                |     |                  | (19 | ) |     |                       |   808.65 |     |                           |  1,050 |
| Balance as of December 31, 2024          |     |                  |  13 |   |     | $                     |   714.30 |     | $                         |    132 |
| Expected to vest as of December 31, 2024 |     |                  |  13 |   |     | $                     |   714.30 |     | $                         |    132 |

The aggregate intrinsic value of outstanding RSUs is calculated based on the closing price of the Company’s common stock as of the date outstanding. As of December 31, 2024, there was $ 11.0million of unrecognized compensation cost related to 0.01million unvested RSUs, which is expected to be recognized over a weighted average period of approximately 2.3years. As of December 31, 2023, there was $ 35.8million of unrecognized compensation cost related to 1.3million unvested RSUs, which is expected to be recognized over a weighted average period of approximately 3.0years.

Earnout Shares - Employees

The Earnout Shares issuable to holders of employee stock options are accounted as stock-based compensation expense as they are subject to forfeiture based on the satisfaction of certain employment conditions. The estimated fair values of the Earnout Shares associated with vested stock options are recognized as an expense and determined by the Monte Carlo simulation valuation model using a distribution of potential outcomes on a monthly basis over the five-year earnout period. The portion of the Earnout Shares associated with unvested stock options are recognized as an expense and considers the vesting continuing employment requirements.

| F-45 |

Velo3D, Inc.

Notes