−Removed: Market for Registrant’s Common Equity, Related
−Removed: Stockholder Matters and Issuer Purchases of Equity Securities.
+Added: Market for Registrant’s Common Equity, Related Stockholder
+Added: Matters and Issuer Purchases of Equity Securities.
Market Information
2 unchanged sentences
The last price of our common stock
−Removed: as reported on the Nasdaq Capital Market LLC on March 17, 2025 was $0.40 per share.
+Added: as reported on the Nasdaq Capital Market LLC on February 25, 2026 was $0.44 per share.
We have two classes of stock, undesignated preferred
1 unchanged sentence
No shares of preferred stock have been issued or are outstanding.
−Removed: As of March 17, 2025, we had
−Removed: 274 common stock stockholders of record.
+Added: As of February 25, 2026, we
+Added: had 186 common stock stockholders of record.
The number of holders of record is based on the actual
18 unchanged sentences
by Rule 12b-2 of the Exchange Act and is not required to provide the information required under this item.
−Removed: Use of Proceeds
−Removed: On July 23, 2021, we closed our initial public offering
−Removed: pursuant to which we offered and sold 3,000,000 shares of our common stock at an offering price of $6.00 per share (for aggregate gross
−Removed: proceeds of $18,000,000), pursuant to our Registration Statement on Form S-1 (as amended) (File No.
−Removed: 333-255134), which was declared effective
−Removed: by the SEC on July 20, 2021, as amended by the Registration Statement on Form S-1 MEF (File No.
−Removed: 333-258058) filed with the SEC on July
−Removed: 20, 2021 and effective as of the date of filing.
−Removed: All proceeds have been applied as planned and disclosed in the registration statements.
−Removed: Sale of Unregistered Securities
−Removed: We did not sell
−Removed: any equity securities during the years ended December 31, 2024 and 2023 in transactions that were not registered under the Securities
−Removed: Act other than as disclosed in our filings with the SEC.
Issuer Purchases of Equity Securities
1 unchanged sentence
during the years ended December 31, 2025 and 2024.
−Removed: Equity Compensation Plan Information
−Removed: On April 8, 2021, our board of directors and our stockholders
−Removed: approved the Twin Vee PowerCats Co.
−Removed: 2021 Stock Incentive Plan, as amended and restated on June 1, 2021 (the “2021 Plan”).
−Removed: The following table provides information, as of December 31, 2024 with respect to options outstanding under the 2021 Plan.
−Removed: Plan Category
−Removed: Number of Securities to be Issued upon Exercise of Outstanding Equity Compensation Plan Options*
−Removed: Weighted- Average Exercise Price of Outstanding Equity Compensation Plan Options
−Removed: Number of Securities Remaining Available for Future Issuance Under Equity Compensation Plans (excluding securities reflected in the first column) (1)
−Removed: Equity compensation plans approved by security holders (2)
−Removed: Equity compensation plans not approved by security holders
−Removed: (1) The maximum number of shares of common stock that may be issued under the 2021 Plan will automatically
−Removed: increase on January 1 of each calendar year for a period of ten years commencing on January 1, 2022 and ending on (and including) January
−Removed: 1, 2031, in a number of shares of common stock equal to 4.5% of the total number of shares of common stock outstanding on December 31
−Removed: of the preceding calendar year;
−Removed: provided, however that the board of directors may act prior to January 1 of a given calendar year to provide
−Removed: that the increase for such year will be a lesser number of shares of common stock.
−Removed: In addition, effective as of November 11,
−Removed: 2024, the 2021 Plan was amended to increase the number of shares of common stock available for issuance thereunder by 1,000,000 shares
−Removed: to 3,171,800 shares.
−Removed: (2) This table does not present information regarding equity awards under the Forza’s 2022 Stock Incentive
−Removed: Plan (the “2022 Plan”) that were assumed by us in connection with the Merger.
−Removed: As of December 31, 2024, an additional 480,458 shares
−Removed: of our common stock were subject to options outstanding that were assumed in the Merger.
−Removed: 2021 Stock Incentive Plan
−Removed: See “Executive Compensation and Director Compensation—Employee
−Removed: Benefit and Stock Plans—2021 Stock Incentive Plan” in Part III, Item 10 for a description of the Twin Vee PowerCats Co.
−Removed: Stock Incentive Plan.
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.