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STOCK-BASED COMPENSATION | 3 Months Ended
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Mar. 31, 2026
Share-Based Payment Arrangement [Abstract] |
STOCK-BASED COMPENSATION | STOCK-BASED COMPENSATION As of March 31, 2026, the Company maintained two stock incentive plans: the Katapult 2014 Plan and the Katapult 2021 Plan. No equity awards have been granted under the Katapult 2014 Plan since October 2020, and the Company does not expect to be grant any additional awards under this plan. Stock Options A summary of the status of the stock options under the Katapult 2014 Plan as of March 31, 2026, and changes during the three months then ended is presented below:
| Number of Options |  | Weighted- Average Exercise Price | Weighted-Average Remaining Contractual Term (In Years) |  | Aggregate Intrinsic Value
Balance - December 31, 2025 | 255,189 |  |  | $ | 6.97 |  | 3.4 |  | $ | 350 |
Granted | — |  |  | — |  |  |  |
Exercised | — |  |  | — |  |  |  |
Forfeited | — |  |  | — |  |  |  |
Expired | — |  |  | — |  |  |  |
Balance - March 31, 2026 | 255,189 |  |  | $ | 6.97 |  | 3.1 |  | $ | 473 |
No stock options were exercised during either the three months ended March 31, 2026 and 2025. Katapult 2021 Plan The 2021 Plan provides for the issuance of equity awards to employees, directors and consultants. Awards granted under the plan generally vest over one to four years. As of March 31, 2026, there were 433,922 shares of common stock available for future issuance under our 2021 equity incentive plan. The following table summarizes the Company’s RSA activity under the 2021 Plan during the three months ended March 31, 2026:
|  |  | Restricted Stock Units
|  |  |  |  |  |  |  |  | Shares |  | Weighted- Average Grant Date Fair Value
Balance - December 31, 2025 |  |  |  |  |  |  |  |  | 115,758 |  | $ | 16.04 |
Granted |  |  |  |  |  |  |  |  | — |  | — |
Exercised / Vested |  |  |  |  |  |  |  |  | (26,438) |  | 25.37 |
Forfeited |  |  |  |  |  |  |  |  | (5,924) |  | 18.03 |
Balance - March 31, 2026 |  |  |  |  |  |  |  |  | 83,396 |  | $ | 12.94 |
Stock-Based Compensation Expense— Stock-based compensation expense was $0.5 million and $1.1 million for the three months ended March 31, 2026 and 2025, respectively. Stock-based compensation expense is included in operating expenses in the condensed consolidated statements of operations. As of March 31, 2026, there was $0.7 million of unrecognized compensation cost, which is expected to be recognized over a weighted-average period of 0.8 years. The total fair value of RSUs vested during the three months ended March 31, 2026 was $0.2 million

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