Company: MLSS
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001493152-25-022276
Chunk: 62

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 8
Chunk 62
---
3,393,017  
     3,098,917 
  
    Shares-to-be-issued, outstanding beginning balance 
     3,393,017  
     3,098,917 

    Granted in current period 
     315,646  
     438,868 
  
    Issued in current period 
     -  
     (353,102)
  
    Shares-to be issued outstanding September 30, 2025 and 2024, respectively 
     3,708,663  
     3,184,683 
  
    Shares-to be issued outstanding ending balance 
     3,708,663  
     3,184,683 

NOTE
8 — STOCK OPTION PLANS

Milestone
Scientific Inc., the Amended and Restated 2020 Equity Incentive Plan, provides for awards of restricted common, stock restricted stock
units, options to purchase and other awards. On June 28, 2023 the plan was amended and restated (the “2020 Plan”)
to increase the maximum shares that can be issued thereunder to 11,500,000 shares of common stock. The plan expires in June 2031.
Options may be granted to employees, directors, and consultants of Milestone Scientific for the purchase of shares of common stock at
a price not less than the fair market value of common stock on the date of grant. Generally, options become exercisable over three years
from the grant date and expire five years after the date of grant. 

Milestone
Scientific recognizes compensation expenses over the requisite service period and in the case of performance-based options over the period
of the expected performance. For the three and nine months ended September 30, 2025, Milestone Scientific recognized approximately $362,000
and $691,000 of total employee compensation cost, respectively, recorded in general and administrative expenses on the statement
of operations. For the three and nine months ended September 30, 2024, Milestone Scientific recognized approximately $172,000 and $530,000 of
total employee compensation cost, respectively, recorded in general and administrative expenses on the statement of operations.

As
of September 30, 2025, there was $1.6 million of total unrecognized compensation cost related to non-vested options. Milestone
Scientific expects to recognize these costs over a weighted average period