---
title: Valuation of Stock-Based Compensation Awards and SPAC Founder Shares Subject to Moving Average Vesting Conditions: A Closed-Form Approximation
url: https://www.ml-quant.com/papers/ssrn/4825109/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4825109
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4825109
featured: 2024-05-15
citations: 0
topic: Other
---


# Valuation of Stock-Based Compensation Awards and SPAC Founder Shares Subject to Moving Average Vesting Conditions: A Closed-Form Approximation

The study introduces a closed-form approximation for the fair value of market-based awards and SPAC transactions, providing a strong alternative to Monte Carlo simulation methods.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4825109
- Identifier: SSRN 4825109
- Released: 2024-05-11
- First featured: Quant Letter No. 49 (2024-05-15): https://www.ml-quant.com/issues/2024-05-15/
- Citations (Semantic Scholar): 0
- Published in: not yet
- Topic: Other

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