v3.26.1
Share-Based Payment
 12 Months Ended
Dec. 31, 2025
Share-Based Payment [Abstract]  
Share-based payment
18.Share-based payment

 

Share data have been revised to give effect to the share split as explained in Note 4 b) (d).

 

a)For the year ended December 31, 2025, the Group’s share-based payment arrangements were as follows:

 

Type of arrangement   Grant date   Quantity granted   Contract period   Vesting conditions
Employee stock options   May 14, 2015   15,886   10 years   Note 1
Employee stock options   May 14, 2015   8,344   10 years   Note 1
Employee stock options   April 14, 2016   398   10 years   Note 2
Employee stock options   April 14, 2016   2,383   10 years   Note 3
Employee stock options   April 7, 2017   1,799   10 years   Note 1
Employee stock options   March 11, 2019   185   10 years   Note 1
Employee stock options   March 11, 2019   185   10 years   Note 1
Employee stock options   March 11, 2019   185   10 years   Note 1
Employee stock options   October 4, 2019   185   10 years   Note 1
Employee stock options   January 9, 2020   185   10 years   Note 1
Employee stock options   March 9, 2020   185   10 years   Note 1
Employee stock options   April 27, 2020   83   10 years   Note 1
Employee stock options   July 31, 2020   3,318   10 years   Note 1
Employee stock options   November 2, 2020   2,489   10 years   Note 1
Employee stock options   May 3, 2021   1,660   10 years   Note 1
Employee stock options   July 1, 2021   185   10 years   Note 1
Employee stock options   July 1, 2021   185   10 years   Note 1
Employee stock options   July 1, 2021   185   10 years   Note 1
Employee stock options   September 1, 2021   83   10 years   Note 3
Employee stock options   February 10, 2022   185   10 years   Note 1
Employee stock options   February 10, 2022   536   10 years   Note 1
Employee stock options   February 10, 2022   367   10 years   Note 1
Employee stock options   February 10, 2022   1,660   10 years   Note 4
Employee stock options   June 10, 2022   535   10 years   Note 3
Employee stock options   June 10, 2022   653   10 years   Note 3
Employee stock options   June 21, 2022   1,751   10 years   Note 4
Employee stock options   May 31, 2023   150   10 years   Note 1
Employee stock options   May 31, 2023   509   10 years   Note 1
Employee stock options   May 31, 2023   527   10 years   Note 1
Employee stock options   July 31, 2023   751   10 years   Note 1
Employee stock options   July 31, 2023   278   10 years   Note 1
Employee stock options   July 31, 2023   1,362   10 years   Note 1
Employee stock options   August 21, 2023   553   10 years   Note 1
Employee stock options   January 1, 2024   111   10 years   Note 3
Employee stock options   January 1, 2024   278   10 years   Note 1
Employee stock options   January 1, 2024   111   10 years   Note 1
Employee stock options   September 1, 2024   1,245   10 years   Note 3
Type of arrangement   Grant date   Quantity granted   Contract period   Vesting conditions
Employee stock options   September 1, 2024   56   10 years   Note 1
Employee stock options   November 20, 2024   3,574   10 years   Note 1
Employee stock options   December 2, 2025   9,000   10 years   Note 4
Restricted stocks to employees   January 1, 2024   231   4 years   Note 6, 10
Restricted stocks to employees   September 1, 2024   88   4 years   Note 6, 10
Restricted stocks to employees   November 20, 2024   110   6 months   Note 7, 10
Restricted stocks to employees   November 20, 2024   438   6 months   Note 7, 10
Restricted shares to employees   February 10, 2025   1,073   4 years   Note 6, 10
Restricted shares to employees   May 1, 2025   2,042   1 years   Note 8, 10
Restricted shares to employees   December 2, 2025   11,355  
-
   Note 9, 10

 

Note 1: Twenty-five percent of the shares subject to the option shall vest on the one-year anniversary of the vesting commencement date. For the remaining seventy-five percent, one forty-eighth of the shares subject to the option shall vest each month thereafter on the same day of the month as the vesting commencement date, subject to participant continuing to be a service provider through each such date.

 

Note 2: All of the shares subject to the option shall vest on the one-year anniversary of the vesting commencement date, subject to participant continuing to be a service provider through each such date.

 

Note 3: One-third of the shares subject to the option shall vest on the one-year anniversary of the vesting commencement date, and one-third of the shares subject to the option shall vest each year thereafter on the anniversary of the vesting commencement date, subject to participant continuing to be a service provider through each such date.

 

Note 4: Single tranche and cliff; fully vested on the earlier of (a) the date of the next AGM (presumably late 2026) or (b) December 2, 2026 (one-year anniversary)

 

Note 5: All shares subject to the option shall vest immediately.

 

Note 6: Twenty-five percent of the shares subject to the Agreement shall vest upon the completion of five months from the date of the Agreement. For the remaining seventy-five percent of the shares subject to the Agreement shall vest in thirty-six equal monthly installments commencing upon the completion of five months from the date of the Agreement.

 

Note 7: All shares subject to the Agreement shall vest upon the completion of six months from the date of the Agreement.

 

Note 8: All shares subject to the Agreement shall vest in two installments, with 50% vesting after four months and the remaining 50% vesting on December 31,2025.

 

Note 9: All shares subject to the Agreement shall vest in full on December 2, 2025.

 

Note 10:  The restricted shares issued by the company cannot be transferred during the vesting period, but voting right and dividend right are not restricted on these stocks.

 

The share-based payment arrangements above are settled by equity.

 

b)Details of the share-based payment arrangements are as follows:

 

   2024 
Stock options  No. of
options		   Weighted-average
exercise price		 
Options outstanding at January 1   36,107    65.196139 
Options granted   5,375    203.774536 
Options exercised   (1,519)   15.094163 
Options forfeited   (692)   201.972966 
Options outstanding at December 31   39,271    83.679889 
Options exercisable at December 31   32,825      
   2025 
Stock options  No. of options   Weighted-average
exercise price		 
Options outstanding at January 1   39,271    83.679889 
Options granted   9,000    5.560000 
Options forfeited   (22,347)   33.000042 
Options outstanding at December 31   25,924    100.121485 
Options exercisable at December 31   13,889      

 

   2024   2025 
Restricted stocks  No. of
restricted
stocks		   No. of
restricted
stocks		 
Restricted stocks granted but not yet vested at January 1   
-
    636 
Restricted stocks granted   867    14,470 
Restricted stocks vested   (231)   (15,106)
Restricted stocks granted but not yet vested at December 31   636    
—
 

 

c)The expiry date and exercise price of stock options outstanding at balance sheet date are as follows:

 

      December 31, 2024   December 31, 2025 
Grant date  Expiration Date  Quantity   Exercise price   Quantity   Exercise price 
May 14, 2015  May 13, 2025   15,886    3.575621    -    
-
 
May 14, 2015  May 13, 2025   1,192    3.575621    -    
-
 
April 14, 2016  April 13, 2026   398    3.575621    398    3.575621 
April 7, 2017  April 6, 2027   1,472    57.120609    1,472    57.120609 
March 11, 2019  March 10, 2029   185    88.501194    185    88.501194 
March 11, 2019  March 10, 2029   185    88.501194    -    
-
 
October 4, 2019  October 3, 2029   185    112.882436    185    112.882436 
January 9, 2020  January 8, 2030   185    88.501194    185    88.501194 
July 31, 2020  July 30, 2030   3,318    134.323144    2,765    134.323144 
November 2, 2020  November 1, 2030   2,489    112.882436    -    
-
 
May 3, 2021  May 2, 2031   1,660    134.323144    1,660    134.323144 
July 1, 2021  June 30, 2031   185    141.863902    -    
-
 
July 1, 2021  June 30, 2031   185    141.863902    185    141.863902 
July 1, 2021  June 30, 2031   185    88.501194    185    88.501194 
February 10, 2022  February 9, 2032   185    88.501194    185    88.501194 
February 10, 2022  February 9, 2032   536    141.863902    351    141.863902 
February 10, 2022  February 9, 2032   367    141.863902    -    
-
 
February 10, 2022  February 9, 2032   1,660    141.863902    1,162    141.863902 
May 31, 2023  May 30, 2033   150    134.323144    -    
-
 
May 31, 2023  May 30, 2033   370    141.863902    185    141.863902 
May 31, 2023  May 30, 2033   527    141.863902    416    141.863902 
July 31, 2023  July 30, 2033   751    180.345276    695    180.345276 
July 31, 2023  July 30, 2033   278    180.345276    278    180.345276 
July 31, 2023  July 30, 2033   1,362    180.345276    1,279    180.345276 
January 1, 2024  December 31, 2033   111    134.323144    111    134.323144 
January 1, 2024  December 31, 2033   278    180.345276    139    180.345276 
January 1, 2024  December 31, 2033   111    180.345276    111    180.345276 
September 1, 2024  August 31, 2034   1,245    180.345276    1,245    180.345276 
September 1, 2024  August 31, 2034   56    180.345276    56    180.345276 
November 20, 2024  November 19, 2034   3,574    217.000232    3,491    217.000232 
December 2, 2025  December 1, 2035   -    -    9,000    5.560000 
d)The fair value of stock options granted on grant date is measured using the binomial model. Relevant information is as follow:

 

Type of Arrangement  Grant date  Stock
price		   Exercise
price		   Expected
price
volatility		  Expected
option
life		   Expected
dividend		   Risk-free
interest
rate		  Fair value
per unit		 
Employee stock options  May 14, 2015  7.969695   3.575621   40%  9.38    
-
   2.231%   4.398052~5.034948 
Employee stock options  May 14, 2015  7.969695   3.575621   40%  7.80    
-
   2.231%   4.785398~5.304752 
Employee stock options  April 14, 2016  8.668436   3.575621   44%  10.00    
-
   1.793%   5.096070 
Employee stock options  April 14, 2016  8.668436   3.575621   44%  8.79    
-
   1.793%   5.227355~5.770760 
Employee stock options  April 7, 2017  5.560450   57.120609   42%  7.84    
-
   2.383%   0.354795~0.382463 
Employee stock options  March 11, 2019  30.544953   88.501194   39%  8.26    
-
   2.640%   6.166785~6.640750 
Employee stock options  March 11, 2019  30.544953   88.501194   39%  8.93    
-
   2.640%   6.166785~6.616337 
Employee stock options  March 11, 2019  30.544953   88.501194   39%  8.12    
-
   2.640%   6.273838~6.769141 
Employee stock options  October 4, 2019  40.794235   112.882436   39%  8.82    
-
   1.530%   7.812732~8.422141 
Employee stock options  January 9, 2020  48.814926   88.501194   40%  7.28    
-
   1.856%   13.917672~15.081516 
Employee stock options  March 9, 2020  47.614914   112.882436   40%  7.75    
-
   0.543%   10.532830~11.407160 
Employee stock options  April 27, 2020  47.495745   112.882436   45%  7.84    
-
   0.661%   12.571547~13.812607 
Employee stock options  July 31, 2020  30.896855   134.323144   47%  7.84    
-
   0.529%   5.635858~6.118683 
Employee stock options  November 2, 2020  30.769005   112.882436   49%  7.84    
-
   0.845%   7.153593~7.804956 
Employee stock options  May 3, 2021  73.819320   134.323144   52%  7.88    
-
   1.600%   27.581995~31.297039 
Employee stock options  July 1, 2021  73.830893   141.863902   53%  8.84    
-
   1.459%   26.184152~29.396479 
Employee stock options  July 1, 2021  73.830893   141.863902   53%  7.84    
-
   1.459%   26.888318~30.849838 
Employee stock options  July 1, 2021  73.830893   88.501194   53%  8.84    
-
   1.459%   31.187454~36.075746 
Employee stock options  September 1, 2021  73.709192   141.863902   53%  9.00    
-
   1.295%   25.989394~27.712919 
Employee stock options  February 10, 2022  74.480809   88.501194   53%  9.48    
-
   2.032%   31.860878~34.817868 
Employee stock options  February 10, 2022  74.480809   141.863902   53%  8.84    
-
   2.032%   26.846003~30.277862 
Employee stock options  February 10, 2022  74.480809   141.863902   53%  8.20    
-
   2.032%   27.326116~31.200474 
Employee stock options  February 10, 2022  74.480809   141.863902   53%  9.40    
-
   2.032%   27.286152 
Employee stock options  June 10, 2022  87.078757   88.501194   56%  10.00    
-
   3.158%   39.164202 
Employee stock options  June 10, 2022  87.078757   22.730774   56%  10.00    
-
   3.158%   64.383788 
Employee stock options  June 21, 2022  87.186353   57.120609   56%  10.00    
-
   3.278%   45.229901 
Employee stock options  May 31, 2023  139.079065   134.323144   57%  9.06    
-
   3.646%   66.464097~78.315022 
Employee stock options  May 31, 2023  139.079065   141.863902   57%  8.85    
-
   3.646%   63.192276~77.126403 
Employee stock options  May 31, 2023  139.079065   141.863902   57%  7.85    
-
   3.646%   66.527027~81.592268 
Employee stock options  July 31, 2023  138.753565   180.345276   57%  8.85    
-
   3.962%   59.907254~71.311159 
Employee stock options  July 31, 2023  138.753565   180.345276   57%  7.85    
-
   3.962%   62.236390~75.671055 
Employee stock options  July 31, 2023  138.753565   180.345276   57%  9.48    
-
   3.962%   59.916838~66.643845 
Employee stock options  August 21, 2023  138.735482   217.000232   57%  7.84    
-
   4.341%   57.003248~70.411874 
Employee stock options  January 1, 2024  138.843982   134.323144   44%  9.90    
-
   3.880%   59.003991~59.386273 
Employee stock options  January 1, 2024  138.843982   180.345276   44%  9.48    
-
   3.880%   52.406279~56.862018 
Employee stock options  January 1, 2024  138.843982   180.345276   44%  8.84    
-
   3.880%   52.406279~60.009787 
Employee stock options  September 1, 2024  166.782762   180.345276   46%  8.17    
-
   3.890%   72.263971~80.672910 
Employee stock options  September 1, 2024  166.782762   180.345276   46%  8.85    
-
   3.890%   70.440807~81.180329 
Employee stock options  November 20, 2024  184.884198   217.000232   46%  7.84    
-
   4.405%   79.816302~93.158019 
Employee stock options  December 2, 2025  5.560000   5.560000   41%  10.00    
 
   4.09%   3.263000 

 

Note:The volatility factor estimated was based on the historical share price movement of the comparable companies for the period of time close to the expected time to exercise.
e)In 2024, the fair value of restricted stocks granted on grant date is measured using the discounted cash flow method, with relevant information is as follows. Since the TNL Mediagene ordinary shares commenced trading on NASDAQ on December 5, 2024, the fair value of restricted stock granted on the grant date in 2025 is measured based on the actual stock price.

 

Type of Arrangement  Grant date  Stock price   Exercise
price		  Perpetual
growth
rate		  Expected
life		  Expected
dividend		  Discount
rate		  Fair value
per unit		 
Restricted stocks to employees  January 1, 2024  138.843982  
           -
  2.0% 4 
    -
  10.8% 138.843982 
Restricted stocks to employees  September 1, 2024  166.782762  
-
  2.0% 4 
-
  10.7% 166.782762 
Restricted stocks to employees  November 20, 2024  184.884198  
-
  2.0% 0.5 
-
  10.7% 184.884198 
Restricted stocks to employees  February 10, 2025  2.400000  
-
 
-
  4 
-
 
-
  2.400000 
Restricted stocks to employees  May 1, 2025  0.380000  
-
 
-
  0.7 
-
 
-
  0.380000 
Restricted stocks to employees  December 2, 2025  5.560000  
-
 
-
 
-
 
-
 
-
  5.560000 

 

f)Expenses incurred on share-based payment transactions related to employee stock options and restricted stocks are shown below:

 

   Year ended December 31, 
   2023   2024   2025 
                
Share based payments  $118,800   $250,952   $483,592