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)

9 Months Ended

Sep. 30, 2023

Schedule of restricted stock unit activity


Outstanding January 1, 2023	15,000
Granted	–
Vested (1)	(5,000	)
Canceled	(5,000	)
Outstanding September 30, 2023	5,000

(1)

5,000 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		657,782		$	15.41
Granted		497,103		$	3.81
Forfeited		(149.885	)	$	13.02
Exercised		(5,000	)	$	5.00
Outstanding at September 30, 2023		1,000,016		$	10.06		8.98	$	–
Exercisable at September 30, 2023		399,024		$	12.93		8.37	$	–

Schedule of stock-based compensation expense


	Three Months Ended September 30, 2023		Three Months Ended September 30, 2022		Nine Months Ended September 30, 2023		Nine Months Ended September 30, 2022
Cost of Goods Sold	$	131,525	$	113,794	$	487,605	$	391,674
Sales and Marketing		134,073		106,478		678,945		568,333
Product Development		80,759		82,560		389,729		661,754
General and Administrative		194,171		122,238		667,077		1,003,088
Total	$	540,528	$	425,070	$	2,223,356	$	2,624,849