NOTE 10: EMPLOYEE SHARE BASED COMPENSATION AND BENEFIT PLANS

2010 Stock Incentive Plan

The Company’s employees, directors, and consultants were eligible to receive awards under the Vermillion, Inc. Second Amended and Restated 2010 Stock Incentive Plan, which was replaced by the 2019 Plan (as defined below) with respect to future equity grants. As of December 31, 2025, there were no shares of Aspira common stock available for future grants under the 2010 Plan.

As of December 31, 2025, a total of 13,442 shares were reserved for issuance with respect to outstanding stock options.

2019 Stock Incentive Plan

At the Company’s 2019 annual meeting of stockholders, the Company’s stockholders approved the Vermillion, Inc. 2019 Stock Incentive Plan, which was later amended to the Aspira Women’s Health Inc. (the “2019 Plan”). The purposes of the 2019 Plan are (i) to align the interests of the Company’s stockholders and recipients of awards under the 2019 Plan by increasing the proprietary interest of such recipients in the Company’s growth and success; (ii) to advance

the interests of the Company by attracting and retaining non-employee directors, officers, other employees, consultants, independent contractors and agents; and (iii) to motivate such persons to act in the long-term best interests of the Company and its stockholders. The 2019 Plan allows the Company to grant stock options, stock appreciation rights, restricted stock, restricted stock units and performance awards to participants.

Subject to the terms and conditions of the 2019 Plan, the initial number of shares authorized for grants under the 2019 Plan was 699,485. With shareholder approval, the total number of shares available to be issued as of December 31, 2025 has been increased to 4,532,818 shares. To the extent an equity award granted under the 2019 Plan expires or otherwise terminates without having been exercised or paid in full, or is settled in cash, the shares of common stock subject to such award will become available for future grant under the 2019 Plan. As of December 31, 2025, there were 790,376 shares of Aspira common stock available for future grants under the 2019 Plan.

The stock option activity under the 2019 Plan for the years ended December 31, 2025 and 2024 was as follows:

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There were no options exercised for the years ended December 31, 2025 and 2024.

For the year ended December 31, 2025, the Company granted option awards under the 2019 Plan with a weighted average grant date fair value of $0.20.

Assumptions included in the fair value per share calculations during the year ended December 31, 2025, were (i) expected terms of two to three years, (ii) two to three year treasury interest rates of 3.51% to 4.25% and (iii) market close prices ranging from $0.07 to $0.72. The Company recorded $79,000 in forfeitures for the year ended December 31, 2025.

For the year ended December 31, 2024, the Company granted option awards under the 2019 Plan with a weighted average grant date fair value of $1.36.

Assumptions included in the fair value per share calculations for the year ended December 31, 2024, were (i) expected terms of one to three years, (ii) one to three year treasury interest rates of 3.58% to 4.96% and (iii) market close prices ranging from $0.75 to $4.87. The Company recorded $13,000 in forfeitures for the year ended December 31, 2024.

The following table summarizes RSU activity for the 2019 Plan for the years ended December 31, 2025 and 2024.

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During the years ended December 31, 2025 and 2024, the Company granted RSUs with a weighted average grant date fair value of $152,000 and $360,000, respectively. The total fair value of RSUs outstanding was $0 and $326,000 for the years ended December 31, 2025 and 2024, respectively.

Stock-based Compensation

The allocation of non-cash stock-based compensation expense by functional area for the years ended December 31, 2025 and 2024 was as follows.

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As of December 31, 2025, total unrecognized compensation cost related to unvested stock option awards was approximately $289,000, and the related weighted average period over which it is expected to be recognized was 1.21 years. As of December 31, 2024, there was $294,000 in unrecognized compensation costs related to restricted stock units, and the related weighted average period over which it is expected to be recognized is 1.85 years.

401(k) Plan

The Company’s 401(k) Plan allows eligible employees to defer up to an annual limit of the lesser of 90.0% of eligible compensation or a maximum contribution amount subject to the Internal Revenue Service annual contribution limit. The Company is not required to make Company contributions under the 401(k) Plan. For the years ended December 31, 2025 and 2024, the Company did not make Company contributions to the 401(k) Plan.