Company: AEMD
Filing Date: 2025-02-12
Form Type: 10-Q
Source: 0001683168-25-000960
Chunk: 18

Company: AETHLON MEDICAL INC
Filing Date: 2025-02-12
Form: 10-Q
Item: Item 1
Chunk 18
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, or $1.52 per share
for the RSUs granted in April 2024. As a result, in April 2024, the four eligible directors were each granted 32,894 RSUs under the Company’s
2020 Equity Incentive Plan, as amended (the “2020 Plan”). The RSUs are subject to vesting in four equal installments, with
25% of the restricted stock units vesting on each of June 30, 2024, September 30, 2024, December 31, 2024, and March 31, 2025, subject
in each case to the director’s Continuous Service (as defined in the 2020 Plan), through such dates. Vesting will automatically
terminate upon the director’s termination of Continuous Service prior to any vesting date.

During the three- and nine-months ended December
31, 2024, 24,671 and 76,944 shares were issued upon settlement of 32,894 and 103,567 RSUs, respectively.

6. RELATED PARTY TRANSACTIONS

During the three-months ended December 31, 2024,
we accrued $68,250 for board fees and paid fees of $68,250 owed to our non-employee directors for services in the current and prior quarter
respectively. In the three-months ended December 31, 2023, we accrued $68,250 and paid out $68,250 in fees owed to our non-employee directors.
In the nine-months ended December 31, 2024, we paid out $204,750 compared to $182,250 in the nine-months ended December 31, 2023.

     13 

We paid out $237,313 and $561,515 in
separation expenses in the three- and nine-months ended December 31, 2024, respectively. As of December 31, 2024 the accrued separation
expenses totaled $555,314 related to the Separation Agreements entered into with our former Chief Operating Officer and Chief Science
Officer.

Amounts due to related parties were comprised
of the following items:

    Schedule of amounts due to related parties 

    December 31, 2024  
    March 31,  2024 
  
    Accrued Board fees 
    $68,250  
    $68,250 
  
    Accrued vacation to all employees