Volcon ePowersports, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

STOCK-BASED COMPENSATION (Tables)

STOCK-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of restricted stock unit activity


Outstanding January 1, 2023	75,000
Granted	–
Vested (1)	(25,000	)
Canceled	–
Outstanding March 31, 2023	50,000

(1)

25,000 RSUs were subject to cancellation due to termination of employment. However, the Company entered into a modification to allow the employee to fully vest in these RSUs as part of a severance agreement. The Company recorded additional expense of $31,487 during the three months ended March 31, 2023 related to this modification.

Schedule of stock option activity

Schedule of stock option activity
	Common Stock Options
	Shares			Weighted Average Exercise Price	Weighted Average Remaining Life in years		Intrinsic Value
Outstanding at January 1, 2023	3,288,830		$	3.08
Granted	238,000		$	1.46
Forfeited	(96,334	)	$	2.96
Exercised	(25,000	)	$	1.00
Outstanding at March 31,2023	3,405,496		$	2.99	8.96	$	351,239
Exercisable at March 31, 2023	1,143,083		$	3.10	8.78	$	155,000

Schedule of stock-based compensation expense


	Three Months Ended March 31, 2023		Three Months Ended March 31, 2022
Cost of Goods Sold	$	206,477	$	222,507
Sales and Marketing		311,759		273,326
Product Development		208,594		346,144
General and Administrative		303,605		733,188
Total	$	1,057,435	$	1,575,165