Annual report [Section 13 and 15(d), not S-K Item 405]

STOCK BASED COMPENSATION

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STOCK BASED COMPENSATION
 12 Months Ended
Dec. 31, 2025
Share-Based Payment Arrangement [Abstract]  
STOCK BASED COMPENSATION STOCK BASED COMPENSATION
2021 Long-Term Stock Incentive Plan

On September 29, 2021, the board of directors (the “Board”) approved the KORE Group Holdings, Inc. 2021 Long-Term Stock Incentive Plan (as amended, modified or supplemented from time to time, the “Incentive Plan”) to promote the interests of the Company and its stockholders. The Incentive Plan initially allowed for the issuance of up to 1,436,209 shares of common stock under share-based payment awards to eligible employees, prospective employees, consultants and non-employee directors of the Company, which number of shares may be increased from time to time in accordance with the provisions of the Incentive Plan. The Incentive Plan is administered by the Compensation Committee of the Board.

All Restricted Stock Unit Awards (“RSUs”) have dividend equivalent rights entitling the holders to the same dividend value per share as holders of the Company’s common stock. Dividend equivalents are not paid on RSUs prior to vesting.

The majority of the Company’s RSUs vest in three equal installments on each anniversary of the grant date.

The following table sets forth a summary of the RSUs activity during the reporting periods:
Number of
awards
outstanding
 (in thousands)		 Weighted-
average
grant date
fair value
(per share)
Unvested RSUs as of December 31, 2023 2,055  $ 15.60 
Granted 907  2.95 
Vested (871) 18.26 
Forfeited and canceled (453) 14.51 
Unvested RSUs as of December 31, 2024 1,638  $ 6.67 
Granted 858  2.47
Vested (616) 8.23
Forfeited and canceled (300) 6.90
Unvested RSUs as of December 31, 2025 1,580  $ 3.72 

As of December 31, 2025, there was approximately $2.3 million of unrecognized compensation expense related to service-based RSUs and performance-based RSUs. The unrecognized compensation expense is expected to be recognized over a weighted average term of approximately 1.01 years.

2025 and 2024 Grant Details

For the years ended December 31, 2025 and 2024, all RSUs granted were time-based RSUs.

Compensation expense and income tax benefit

The following is a summary of the Company’s share-based compensation expense related to RSUs during the reporting periods shown below:

For the Year Ended December 31,
(in thousands) 2025 2024
Total stock compensation expense (1)
$ 2,095  $ 8,481 
Income tax expense $ 126  $ 64 

(1) The amounts set forth above are recorded as selling, general, and administrative expenses on the consolidated statements of operations and comprehensive loss for the years ended December 31, 2025 and 2024.