Quarterly report [Sections 13 or 15(d)]

Stock Based Compensation (Tables)

Stock Based Compensation (Tables)

3 Months Ended

Dec. 28, 2025

Share-Based Payment Arrangement [Abstract]

Schedule of Aggregate Non-vested Restricted Stock and Restricted Stock Units Granted and Market-based Shares

The following table summarizes the status of Optex Systems Holdings’ aggregate non-vested restricted stock and restricted stock units, and market-based shares:

	Restricted Stock Units			Weighted Average Grant Date Fair Value		Restricted Shares			Weighted Average Grant Date Fair Value		Market-Based Shares		Weighted Average Grant Date Fair Value
Outstanding at September 29, 2024		66,500		$	5.56		60,000		$	2.20		-	$	-
Granted		39,000			6.35		32,800			9.29		-		-
Vested		(24,000	)		5.17		(60,000	)		2.20		-		-
Forfeited		(7,500	)		5.19		-			-		-		-
Outstanding at September 28, 2025		74,000		$	6.11		32,800		$	9.29		-	$	-
Granted		1,000			15.07		16,700			16.06		67,500		10.06
Vested		-			-		-			-		-		-
Forfeited		-			-		-			-		-		-
Outstanding at December 28, 2025		75,000		$	6.23		49,500		$	11.57		67,500	$	10.06

Schedule of Assumptions and Results for the Monte Carlo Simulation for the Market-based Shares

The assumptions and results for the Monte Carlo simulation employed for the market-based shares are as follows:

	Assumptions
Performance Period Start		12/18/2025
Performance Period End		9/30/2030
Term of simulation ⁽¹⁾		4.78 years
Time steps in simulation		1,205
Time steps per year		252
Common share price at valuation date ⁽²⁾	$	13.60
Dividend yield ⁽³⁾		0.0	%
Volatility (annual) ⁽⁴⁾		52.5	%
Risk-free rate (annual) ⁽⁵⁾		3.64	%
Cost of equity ⁽⁶⁾		12.0	%

	Tranche 1		Tranche 2		Tranche 3		Tranche 4		Tranche 5
Number of Market-Based shares in the Tranche ⁽¹⁾		13,500		13,500		13,500		13,500		13,500
Fair Value of One Market-Based share ⁽⁷⁾	$	12.08	$	11.16	$	10.12	$	9.02	$	7.90
Total Fair Value of Tranche	$	163,051	$	150,633	$	136,669	$	121,713	$	106,662
Derived Service Period (Years) ⁽⁷⁾		0.66		1.12		1.58		2.01		2.37

	(1)	Based on the terms of the Market-Based shares agreement issued by the Company on December 18, 2025 and effective December 18, 2025.
	(2)	Closing price of OPXS shares on the Valuation Date, as obtained via S&P Capital IQ.
	(3)	Expected dividends provided by management.
	(4)	Based on historical volatility of OPXS and comparable public companies.
	(5)	Interest rate for US Treasury commensurate with the Market-based shares holding period, as of the Valuation Date, as obtained via S&P Capital IQ.
	(6)	Estimated cost of equity for OPXS as of the Valuation Date.
	(7)	Based on Monte Carlo simulation.

Schedule of Unrecognized Compensation Costs

	Stock Compensation
	(thousands)
	Recognized Compensation Expense				Unrecognized Compensation Expense
	Three months ended				As of period ended
	December 28, 2025		December 29, 2024		December 28, 2025		September 28, 2025

Restricted Shares	$	146	$	59	$	234	$	112
Market-based shares		16		-		663		-
Restricted Stock Units		50		33		307		342
Total Stock Compensation	$	212	$	92	$	1,204	$	454