Strive, Inc.ASST
Strive, Inc. Stock Compensation Disclosure
Share-based Compensation
Pursuant to the Strive 2022 Equity Incentive Plan, adopted on April 12, 2022, and as amended from time to time (together, the "2022 Plan"), the Company may, subject to the terms and limitations of the 2022 Plan, grant compensatory awards, including restricted stock ("RSAs"), stock appreciation rights, restricted stock units ("RSUs"), incentive stock options, and non-statutory stock options.
Incentive Stock Options
Pursuant to the 2022 Plan, options to purchase shares of the Company's common stock may be granted at an exercise price not less than 100% of the fair value of the common stock subject to the option on the date the option is granted. A maximum of 166.0 million shares of common stock (8.3 million on a split-adjusted basis) were authorized for issuance under the 2022 Plan. Of this amount, 166.0 million shares (8.3 million on a split-adjusted basis) remain available for future awards as of December 31, 2025.
Restricted Stock and Restricted Stock Units
Pursuant to the 2022 Plan, RSAs and RSUs may be granted to certain employees, directors, and consultants. Substantially all RSAs and RSUs vest over periods ranging from to four years, pro-rata over the requisite service period, with the first vesting event occurring at the first anniversary of the award's grant date, with subsequent pro-rata vesting events quarterly thereafter. The RSU grants also contain a performance condition requiring a Liquidity Event or IPO, as defined in the 2022 Plan, to occur for the vesting of the RSUs. Compensation cost is recognized using the straight-line method over the requisite service period, to the extent such performance condition is deemed probable, which occurred during the period from September 12, 2025 to December 31, 2025.
The 2022 Plan permits the grant of 58.9 million shares (2.9 million on a split-adjusted basis) of common stock, of which 7.7 million (384 thousand on a split-adjusted basis) remain available for future awards as of December 31, 2025.
During the period from September 12, 2025 to December 31, 2025, the Company granted 9.2 million RSU awards (458 thousand on a split-adjusted basis) to employees with a grant date fair value of $44.2 million. The RSU awards were valued using the market price of our Class A common stock at the grant date.
During the period from September 12, 2025 to December 31, 2025, the Company granted 1.8 million RSU awards (89 thousand on a split-adjusted basis) to directors with a grant date fair value of $1.9 million. The RSU awards were valued using the market price of our Class A common stock at the grant date.
During the period from January 1, 2025 to September 11, 2025, the Predecessor granted 43 thousand RSU awards to employees (which, after giving effect to the Exchange Ratio as a result of the Asset Entities Merger, equaled 3.0 million RSU awards, or 152 thousand on a split-adjusted basis) with a grant date fair value of $2.1 million.
During the year ended December 31, 2024, the Predecessor granted 373 thousand RSU awards to employees (which, after giving effect to the Exchange Ratio as a result of the Asset Entities Merger, equaled 26.5 million RSU awards, or 1.3 million on a split-adjusted basis) with a grant date fair value of $14.6 million.
The Company recorded $21.7 million of share-based compensation expense for the period from September 12, 2025 to December 31, 2025, which is included in employee compensation and benefits. No such share-based compensation expense was recorded for previous periods.
The following table summarizes awards that have been granted, forfeited, or vested (amounts in thousands, except weighted average grant date fair values):
| Weighted Average | Weighted Average | ||||||||||||||||||||||
| Grant Date | Grant Date | ||||||||||||||||||||||
RSAs(1) | Fair Value(1) | RSUs(1) | Fair Value(1) | ||||||||||||||||||||
| December 31, 2023 | 800 | $ | 0.00040 | 807 | $ | 10.69400 | |||||||||||||||||
| Granted | — | — | 1,323 | 11.00420 | |||||||||||||||||||
| Vested | (356) | 0.00040 | — | — | |||||||||||||||||||
| Forfeited | — | — | (200) | 10.69400 | |||||||||||||||||||
| December 31, 2024 | 444 | $ | 0.00040 | 1,930 | $ | 10.90680 | |||||||||||||||||
| Granted | — | — | 152 | 13.68660 | |||||||||||||||||||
| Vested | (267) | 0.00040 | — | — | |||||||||||||||||||
| Forfeited | — | — | (68) | 11.85640 | |||||||||||||||||||
| September 11, 2025 | 177 | $ | 0.00040 | 2,014 | $ | 11.08500 | |||||||||||||||||
| Granted | — | — | 547 | 84.27980 | |||||||||||||||||||
| Vested | (177) | 0.00040 | (1,739) | 11.13160 | |||||||||||||||||||
| Forfeited | — | — | — | — | |||||||||||||||||||
| December 31, 2025 | — | $ | — | 822 | $ | 59.71440 | |||||||||||||||||
| (1) Amounts have been adjusted to reflect the shares underlying such awards after giving effect to the Exchange Ratio as a result of the Asset Entities Merger and the 1-20 reverse split that became effective on February 6, 2026. | |||||||||||||||||||||||
As of December 31, 2025, aggregate unrecognized compensation expense for unvested equity awards was $43.8 million, which is expected to be recognized over a remaining weighted-average period of 2.5 years.
As of December 31, 2024, aggregate unrecognized compensation expense for unvested equity awards was $21.0 million, which is expected to be recognized over a remaining weighted-average period of 3.0 years.
About Stock Compensation Disclosures
Stock-based compensation disclosures detail the equity awards granted to employees and executives — including stock options, restricted stock units (RSUs), and performance shares — along with the valuation methods and assumptions used to expense them. This section reveals the true cost of talent retention and the alignment between management incentives and shareholder interests.
Key signals: total unrecognized compensation expense and its expected recognition period signal future earnings headwinds from already-granted awards. For stock options, examine Black-Scholes assumptions — expected volatility, risk-free rate, and expected term — as understating any of these reduces reported compensation expense. Compare stock compensation expense as a percentage of revenue against peers to assess dilution cost. Watch vesting schedules for acceleration clauses tied to change-of-control events. Performance-based awards with undemanding targets may indicate weak governance. Add back stock compensation to operating cash flow to calculate a more conservative free cash flow figure.