Company: BFRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023496
Chunk: 61

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 61
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 30, 2025, the Company granted 342,030 restricted stock units (“RSUs”) with an average grant
date fair value of $1.27. The RSUs vest over a two-year2 period. During the three and nine months ended September 30, 2025, the Company
recognized $18,099 of compensation expense related to RSUs.

As
of September 30, 2025, the total unrecognized compensation expense related to unvested RSUs was approximately $416,000, which the Company
expects to recognize over a weighted-average period of approximately 1.9 years.

    13

Stock
Grants

During
the three months ended September 30, 2025, the Company granted 168,465 shares of common stock with an average grant date fair value of
$1.27, all of which were fully vested at the grant date. Of the 168,465 shares granted, 8,438 were not legally issued as of September
30, 2025. During the three and nine months ended September 30, 2025, the Company recognized $213,951 of compensation expense related
to the stock grants.

Warrants

The
following table provides details for the Company’s outstanding warrants as of September 30, 2025:

Schedule
of Outstanding Warrants

    Exercise Price 
    Expiration  
    Number of Warrants 
  
    $0.0007 
     2030  
     274,286 
  
    $1.22 
     2036  
     5,000 
  
     $2.00 - $2.66 
     2026 - 2032  
     2,164,179 
  
     $3.36 - $4.16 
     2028 - 2029  
     1,842,807 
  
     $6.51 - $7.80 
     2026 - 2032  
     1,484,829 
  
    $8.125 
     2028  
     1,443,227 

     7,214,328 

Warrants
Issued in Conjunction with Transactions

During
the year ended December 31, 2024, the Company issued the following warrants as part of two secondary
offerings:

●In
                                            February 2024, 1,507,139 warrants with an