| Restricted Stock Units |
| 17. |
Restricted
Stock Units |
During
the year ended December 31, 2025 and 2024, the Company granted RSUs as follows:
| ● | On
January 1, 2025, the Company granted 67,200 RSU’s which vest quarterly beginning January
1, 2025. |
| ● | On
January 1, 2024, the Company granted 87,600 RSU’s which vest quarterly beginning January
1, 2024. On December 27, 2024, 19,200 vested RSU’s were cancelled pursuant to a settlement
agreement (Note 18). |
| ● | As
at December 31, 2024, the Company accrued for 207,700 RSU’s valued at $54,197 as an
annual bonus to a member of management (Note 18). |
| ● | During
the year ended December 31, 2024, the Company granted 129,194 RSU’s valued at $63,986
pursuant to certain anniversary terms of the employment agreement of a member of management. |
For
the year ended December 31, 2025, the Company recognized $18,543 (2024 - $180,593 and 2023 - $2,279,059) in stock-based compensation
expense for RSUs granted and vested.
Schedule
of Restricted Stock Units
| | |
Number of unvested
restricted stock units | | |
Weighted average
fair value per award | |
| Balance, December 31, 2023 | |
| – | | |
| – | |
| Granted | |
| 424,494 | | |
| 0.60 | |
| Canceled | |
| (19,200 | ) | |
| 0.25 | |
| Vested | |
| (197,594 | ) | |
| 0.40 | |
| Balance, December 31, 2024 | |
| 207,700 | | |
| 0.15 | |
| Granted | |
| 67,200 | | |
| 0.09 | |
| Balance, December 31, 2025 | |
| 274,900 | | |
| 0.14 | |
As
at December 31, 2025, the Company had 274,900 RSU’s (December 31, 2024 – 207,700) outstanding.
TRILLION
ENERGY INTERNATIONAL INC.
Notes to the Consolidated Financial Statements
For the years ended December 31, 2025 and 2024
(Expressed
in U.S. dollars)
|