As of December 31, 2025, the Company has two stock incentive plans, the Cognical Holdings, Inc. 2014 Stock Incentive Plan, (“Katapult 2014 Plan”) and the Katapult Holdings, Inc. 2021 Stock Incentive Plan, (“Katapult 2021 Plan”).

In accordance with the Katapult 2014 Plan, the board of directors could grant equity awards to officers, employees, directors and consultants for common stock. The Katapult 2014 Plan has specific vesting for each stock option grant allowing vesting of the options over one to four years. No equity awards have been granted under the Katapult 2014 Plan since October 2020 and no new equity awards are expected to be granted under the Katapult 2014 Plan.


	Number of Shares	Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value
Balance - December 31, 2024	256,689	$	6.96	4.4	$	415
Granted	—	—
Exercised	(1,500)	4.75
Forfeited	—	—
Expired	—	—
Balance - December 31, 2025	255,189	$	6.97	3.4	$	350

In accordance with the Katapult 2021 Plan, directors may issue equity awards, including restricted stock awards (“RSAs”), restricted stock unit award, and stock options to officers, employees, directors and consultants to purchase common stock. The awards granted are subject to either service-based and/or performance-based vesting conditions. Restricted stock units (“RSUs”) are equity awards granted to employees that entitle the holder to shares of common stock when the awards vest. RSUs are measured based on the fair value of the Company’s common stock on the date of grant. Awards granted under the Katapult 2021 Plan generally vest over one to four years. As of December 31, 2025, there were 273,853 RSAs available for future issuance under the Katapult 2021 Plan.


	Stock Options						Restricted Stock Units
	Number of Options	Weighted- Average Exercise Price		Weighted-Average Remaining Contractual Term (In Years)	Aggregate Intrinsic Value		Shares	Weighted- Average Grant Date Fair Value
Balance - December 31, 2024	13,865	$	261.25	6.5	$	—	264,812	$	22.83
Granted	—	—					98,540	9.59
Exercised / Vested	—	—					(216,130)	21.92
Forfeited	(13,865)	261.25					(31,464)	12.58
Balance - December 31, 2025	—	N/A		N/A	N/A		115,758	$	16.04

Stock-Based Compensation Expense—Stock-based compensation expense of $3.7 million and $5.8 million was recognized for the years ended December 31, 2025 and 2024, respectively. Stock-based compensation expense is included in operating expenses in the consolidated statements of operations and comprehensive income (loss).

As of December 31, 2025, there was $1.4 million of unrecognized compensation costs. This amount is expected to be recognized over a weighted-average period of 0.9 years. The total fair value of vested RSUs as of their respective vesting dates was $2.2 million.