Quarterly report [Sections 13 or 15(d)]

STOCK OPTIONS

v3.25.3
STOCK OPTIONS
 9 Months Ended
Sep. 30, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK OPTIONS

NOTE 7 – STOCK OPTIONS

 

The following table summarizes stock options:

 

    Number of    

Weighted

Average

  
    Options     Exercise Price  
Outstanding, December 31, 2024     20,002     $ 36.53  
Granted     —       —  
Exercised/Forfeited/Expired     (7,144 )     34.93  
Outstanding, September 30, 2025 (unaudited)     12,858     $ 37.42  
Exercisable, September 30, 2025 (unaudited)     12,858     $ 37.42  

 

Effective July 8, 2016, the Company’s board of directors approved the Polar Power 2016 Omnibus Incentive Plan (the “2016 Plan”), authorizing the issuance of up to 250,627 shares of common stock as incentives to employees and consultants to the Company with awards limited to a maximum of 50,125 shares to any one participant in any calendar year.

 

At December 31, 2024, the Company had total outstanding options exercisable into 20,002 shares of the Company’s common stock. As of September 30, 2025, 7,144 options had terminated, and 12,858 options are fully vested and exercisable. The options have exercise prices ranging from $33.88 to $39.20, and with 1,429 option shares set to expire in December 2027 and the remaining 11,429 option shares set to expire in April 2028.

 

The outstanding options had no intrinsic value at September 30, 2025.