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Stock-Based Compensation | 6 Months Ended
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Sep. 30, 2025
Compensation Related Costs [Abstract] |
Stock-Based Compensation | Note 9 - Stock-Based Compensation Aeries Technology, Inc. 2023 Equity Incentive Plan The board of directors of WWAC approved the Aeries Technology, Inc. 2023 Equity Incentive Plan (the “Plan”) on March 11, 2023, subject to approval by WWAC’s shareholders. The Plan was approved by WWAC’s shareholders on November 2, 2023 and the Plan became effective upon the consummation of the Business Combination. The number of Class A ordinary shares authorized for issuance under the Plan is 11,928,287 subject to certain adjustments set forth in the Plan. Restricted Stock Unit award The board of directors of ATI approved the below grant of restricted stock unit awards (“Non-employee RSU) under Aeries Technology, Inc. 2023 Equity Incentive Plan (“the Plan”) on September 9, 2025. Non-Employee Director Equity Compensation Pursuant to the Plan, Company approved the 2025 non-employee director equity compensation and granted Ms. Nina B. Shapiro, Mr. Biswajit Dasgupta and Mr. Alok Kochhar (collectively regarded as independent directors of the Company) equity awards in the form of 125,000 Class A ordinary shares each, par value $0.0001 per share. The awards were fully vested and exercisable on the grant date, September 9, 2025. Consultant Equity Compensation Pursuant to the Plan, Company approved and granted Ramesh Venkataraman (“Consultant”) equity awards in the form of 125,000 Class A ordinary shares, par value $0.0001 per share. The award was fully vested and exercisable on the grant date, September 9, 2025. Compensation cost for stock awards, which include Non-employee RSU, is measured at the fair value on the grant date and recognized as expense, net of estimated forfeitures. The fair value of stock awards is based on the quoted price of our Class A ordinary shares on the grant date. The fair value of RSUs is measured using fair value of our quoted stock due to grant date and vesting date being the same. The following table summarizes the activities for vested RSUs granted to independent directors and Consultant for the three and six months ending September 30, 2025:
Schedule of restricted stock units activity |  |  |  |  |  |  |  |
|  | Restricted Stock Units |
|  | Number of Shares |  |  | Grant Date Fair Value |
Options outstanding at April 1, 2025 |  |  | - |  |  |  | - |
Options granted |  |  | 500,000 |  |  | $ | 293 |
Options vested |  |  | 500,000 |  |  | $ | 293 |
Options canceled, forfeited or expired |  |  | - |  |  |  | - |
Options outstanding at September 30, 2025 |  |  | - |  |  |  | - |
Vested and exercisable as of September 30, 2025 |  |  | 500,000 |  |  |  | 293 |
Aeries Employees Stock Option Plan, 2020 On August 1, 2020, ATGBA’s board of directors approved and executed the Aeries Employees Stock Option Plan (“ESOP”), which was subsequently amended on July 22, 2022. Under ESOP, the company is authorized to grant up to 59,900 options to eligible employees in one or more tranches. The company granted 59,900 options to eligible employees during the year ended March 31, 2023. The options issued under the ESOP generally are subject to service conditions. The service condition is typically one year. The stock-based compensation expense is recognized in the condensed consolidated statements of comprehensive income using the straight-line attribution method over the requisite service period. The following table summarizes the ESOP stock option activity for the six months ended September 30, 2025:
Schedule of ESOP stock option activity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Shares |  |  | Weighted average exercise price |  |  | Weighted-average remaining contractual term (in years) |  |  | Aggregate intrinsic value |
Options outstanding at April 1, 2025 |  |  | 59,900 |  |  | $ | - |  |  |  | - |  |  | $ | - |
Options granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Options exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Options canceled, forfeited or expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Options outstanding at September 30, 2025 |  |  | 59,900 |  |  | $ | 0.11 |  |  |  | 2.81 |  |  | $ | 2,162 |
Vested and exercisable at September 30, 2025 |  |  | 59,900 |  |  | $ | 0.11 |  |  |  | 2.81 |  |  | $ | 2,162 |
Aeries Management Stock Option Plan, 2019 On September 23, 2019, ATGBA’s board of directors approved and executed the Aeries Management Stock Option Plan 2019 (“MSOP”), which was subsequently amended on December 31, 2022. Under MSOP, ATGBA has authorized to grant up to 295,565 options to eligible employees in one or more tranches. The options issued under the MSOP generally are subject to both service and performance conditions. The service condition is typically one year, and the performance conditions are based on the condensed consolidated revenue and adjusted profit before tax of ATGBA. The stock-based compensation expense is recognized in the condensed consolidated statements of comprehensive income using the straight-line attribution method over the requisite service period if it is probable that the performance target will be achieved. The following table summarizes the MSOP stock option activity for the six months ended September 30, 2025:
Schedule of stock option activity |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
|  | Shares |  |  | Weighted average exercise price |  |  | Weighted-average remaining contractual term (in years) |  |  | Aggregate intrinsic value |
Options outstanding at April 1, 2025 |  |  | 295,565 |  |  | $ | - |  |  |  | - |  |  | $ | - |
Options granted |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Options exercised |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Options cancelled, forfeited or expired |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Options outstanding at September 30, 2025 |  |  | 295,565 |  |  | $ | 0.11 |  |  |  | 0.17 |  |  | $ | 10,666 |
Vested and exercisable at September 30, 2025 |  |  | 295,565 |  |  | $ | 0.11 |  |  |  | 0.17 |  |  | $ | 10,666 |
The Company uses the BSM option-pricing model to determine the grant-date fair value of stock options. The determination of the fair value of stock options on the grant date is affected by the estimated underlying share price, as well as assumptions regarding a number of complex and subjective variables. These variables include expected stock price volatility over the term of the awards, actual and projected employee stock option exercise behaviors, risk-free interest rates, and expected dividends. The grant date fair value of the Company’s stock options granted to employees were estimated using the Black-Scholes option-pricing model with the following weighted average assumptions:
Schedule of weighted average assumptions |  |  |  |
|  | 2022 Grants |
Expected term |  |  | 3.5 years |
Expected volatility |  |  | 40.80 | %
Risk free interest rate |  |  | 3.01 | %
Annual dividend yield |  |  | 0.00 | %
During the six months ended September 30, 2025, and 2024, the Company recorded stock-based compensation expense of $293 and $12,746 within “Selling, general & administrative expenses” in the condensed consolidated statements of operations, respectively. During the three months ended September 30, 2025, and 2024, the Company recorded stock-based compensation expense of $293 and Nil 0 within “Selling, general & administrative expenses” in the condensed consolidated statements of operations, respectively. As of September 30, 2025 and 2024, there was no unrecognized stock-based compensation cost.

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- Definition The entire disclosure for compensation costs, including compensated absences accruals, compensated absences liability, deferred compensation arrangements and income statement compensation items. Deferred compensation arrangements may include a description of an arrangement with an individual employee, which is generally an employment contract between the entity and a selected officer or key employee containing a promise by the employer to pay certain amounts at designated future dates, usually including a period after retirement, upon compliance with stipulated requirements. This type of arrangement is distinguished from broader based employee benefit plans as it is usually tailored to the employee. Disclosure also typically includes the amount of related compensation expense recognized during the reporting period, the number of shares (units) issued during the period under such arrangements, and the carrying amount as of the balance sheet date of the related liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 710 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482969/710-10-50-1 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 710 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/710/tableOfContent + Details
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