The vesting schedules for the New Options were based on the vesting status of the Old Options, except for two grants out of the New Options which were granted as fully vested.

Options execrise price per share

$ 40

$ 40.00

Expiration date

10 years

Weighted average fair value of share options granted

$ 40.00

2021 Employee Share Option Plan [Member] | Non-employee [Member]

Options granted

1,800

Options execrise price per share

$ 40

Number of share vested

450

2021 Employee Share Option Plan [Member] | Share-based Payment Arrangement, Tranche One [Member] | Non-employee [Member]

Number of share vested

1,350

2021 Employee Share Option Plan [Member] | ASC 718 [Member]

Share-based compensation expense

$ 237

2021 Employee Share Option Plan [Member] | Three Employees [Member]

Additional options granted

7,000

2021 Employee Share Option Plan [Member] | Certain Employees [Member]

Options granted

11,325

Vesting rights, description

The options shall vest over a four-year period from the grant date in sixteen equal quarterly installments.

Options execrise price per share

$ 40

Vesting period

4 years

2021 Employee Share Option Plan [Member] | Chief Executive Officer [Member]

Options granted

58,767

Vesting rights, description

75% of the options will vest immediately and the remaining 25% will vest over a one-year period in four equal quarterly installments.

Options execrise price per share

$ 40

2021 Employee Share Option Plan [Member] | Chief Financial Officer [Member]

Options granted

7,500

Vesting rights, description

The options shall vest over a four-year period from the date of the grant in sixteen equal quarterly installments.

Options execrise price per share

$ 40

Vesting period

4 years

2015 ESOP [Member]

Options outstanding

45,500

Options execrise price per share

$ 33.46

[1]

Following the disclosed above in Note 6a, as of March 31, 2020 (unaudited) and December 31, 2020, 45,500 Old Options were outstanding under the 2015 ESOP with a weighted average exercise price ("WAEP") of $33.46 (out of which 33,000 Old Options were exercisable with a WAEP of $30.98). During the three months ended March 31, 2020 and the year ended December 31, 2020, no options were granted under the 2015 ESOP and 1,250 Old Options forfeited and expired

Qnergy Inc. S-1