STOCK BASED COMPENSATION

3 Months Ended

Jun. 30, 2025

Share-Based Payment Arrangement, Noncash Expense [Abstract]

The compensation expense related to restricted and non-restricted stock grants was $23,054 during the three months ended June 30, 2025, and $10,615 during the three months ended June 30, 2024. As of June 30, 2025 there was $73,597 of total unrecognized compensation cost related to non-vested shares of common stock granted, and $49,256 during the three months ended June 30, 2024. The cost is expected to be recognized over a weighted average period of 4.38 years. The compensation expense related to stock awards, which vested on the date of the award was $11,754 and $3,230 during the three months ended June 30, 2025 and June 30, 2024, respectively.

The Company has determined the fair value of shares awarded during the three months ended June 30, 2025, using the Monte Carlo valuation model based on the following key assumptions:


Stock awards granted	Term (years)	Volatility		Risk-free rate
April 8, 2025	3.80	35.80	%	3.78	%
May 29, 2025	4.66	38.85	%	3.98	%

The table below summarizes the activity for the Company's stock awards during the three months ended June 30, 2025:


	Shares	Weighted Average Fair Value
Outstanding, at March 31, 2025	1,207,307	97,748
Granted	211,691	27,348
Vested	(226,129)	(16,571)
Forfeited/cancelled/expired	—	—
Outstanding, at June 30, 2025	1,192,869	108,525

Freedom Holding Corp. 10-Q