Share-Based Compensation Expense (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

The Company grants stock options to certain employees that will vest over a period of one to four years. A summary of stock option award activity for the years ended December 31, 2025 and 2024 was as follows:


Options	Shares	Weighted Average Exercise Price		Weighted Average Remaining Contractual Term
Outstanding at December 31, 2023	193,156	$	17.89	5.8
Granted	295,229	3.75
Exercised	—	—
Cancelled or forfeited	—	—
Outstanding at December 31, 2024	488,385	$	9.34	7.5
Granted	—	—
Exercised	(1,562)	1.92
Cancelled or forfeited	(2,053)	24.38
Outstanding at December 31, 2025	484,770	$	9.30	6.5
Exercisable at December 31, 2025	263,348	$	13.97	5.0

Schedule of fair value of stock options assumptions

The fair value of stock options granted during the year ended December 31, 2024 was measured with the following assumptions:


	2024
Expected volatility	71.3%- 78.4%
Expected term (in years)	10
Risk-free interest rate	4.5	%
Expected dividend yield	0.0	%

Schedule of fair value of restricted stock awards

Restricted stock units activity during the years ended December 31, 2025 and 2024 was as follows:


	Number of Shares	Weighted Average Grant Date Fair Value Per Share
Non-vested, at December 31, 2023	1,102,095	$	7.74
Granted	2,125,297	3.44
Vested	(310,076)	6.65
Cancelled or forfeited	(683,500)	5.16
Non-vested, at December 31, 2024	2,233,816	$	4.60
Granted	3,178,940	1.80
Vested	(636,428)	4.13
Cancelled or forfeited	(1,101,826)	4.15
Non-vested, at December 31, 2025	3,674,502	$	2.39

Share-based payment arrangement, restricted stock unit, activity

The fair value and derived service period of each tranche was as follows:


Stock Price Tranche	Fair Value	Derived Service Period (in years)
$25.84	$8.88	1.72
42.96	8.48	2.71
60.00	8.24	3.30
77.12	7.92	3.70
94.16	7.76	4.11
111.28	7.52	4.42
128.32	7.28	4.64
145.44	7.12	4.78
162.48	6.96	5.00
179.60	6.80	5.10

SPRUCE POWER HOLDING CORP 10-K/A