v3.25.2
Share-based payments (Tables)
6 Months Ended
Jun. 30, 2025
Share-based payments  
Schedule of share-based options granted

Type of options

    

Grant Date

    

No. of options outstanding

    

Vesting period

    

Vesting conditions

ESOP options

 

November 2021, depending on the employee

 

196,053

*

2021-2026

 

Service condition

LTIP - Modified Class B complex vesting options

 

January 1, 2019

 

22,074

*

2022-2026

 

Service condition

Total share options outstanding as at June 30, 2025

218,127

 

*Options granted refer to GDEV Inc. shares (adjusted for reverse share split)
Schedule of share-based payments expense

Six months ended

Six months ended

Three months ended

Three months ended

    

June 30, 2025

    

June 30, 2024

    

June 30, 2025

    

June 30, 2024

Class B complex vesting

 

18

 

34

 

9

 

17

Employee stock option plan

 

445

 

356

 

373

 

175

Total recorded expenses

 

463

 

390

 

382

 

192

therein recognized:

 

 

 

 

within Selling and marketing expenses

 

 

19

 

 

6

within General and administrative expenses

 

463

 

371

 

382

 

186

Class B complex vesting (performance-based awards)  
Share-based payments  
Schedule of movement of the share options, related fair values ("FV") at grant dates and actual vesting

Employee

    

Class B complex

    

stock option

vesting - related to

plan

GDEV Inc shares

Outstanding at the beginning of the period 2024 (units)

 

197,636

 

51,504

Exercised during the period (units)

 

(3,409)

 

(14,716)

Forfeited

 

(25,000)

 

Outstanding at June 30,2024 (units)

 

169,227

 

36,788

    

Employee

    

Class B complex

stock option

vesting - related to

plan

GDEV Inc shares

Outstanding at the beginning of the period 2025 (units)

187,323

36,789

Granted during the period (units)

15,663

 

Modification of options (units)

Exercised during the period (units)

(6,933)

(14,715)

Forfeited

 

Cancelled

Outstanding at the end of the period June 30, 2025 (units)

196,053

 

22,074

Modification of complex options  
Share-based payments  
Schedule of fair value per one option and related assumptions used to estimate the fair value of our options at the grant date

Evaluation date (grant date)

    

January 1, 2019

Equity value, US$ mln

 

132

Expected volatility

 

41.00%

Dividend yield

 

6.80%

Proxy net income indicator

 

0.041201

Discount for Lack of Marketability*

 

8.40%

Total FV for 130 complex options**

 

7,856.12

*-

applied to the result of fair value estimation.

**-

total FV of 130 complex options related to Nexters Global shares that in November of 2021 were modified into 441,461 complex options related to the shares in GDEV Inc.

Stock options granted in 2021  
Share-based payments  
Schedule of fair value per one option and related assumptions used to estimate the fair value of our options at the grant date

Evaluation date (grant date)

    

November 16-30, 2021

Vesting period

 

60-90 months, depending on the employee

Share market price, US$

 

From 78.6 to 87.1

Strike (exercise) price, US$

 

0 or 100 depending on the grant

Expected volatility

 

36.15-37.88%

Dividend yield

 

0.0%

Risk-free interest rate

 

1.18-1.27%

Average grant-date FV of one option, US$

 

3.57