Company: BFRG
Filing Date: 2025-05-13
Form Type: 10-Q
Source: 0001641172-25-009946
Chunk: 38

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-05-13
Form: 10-Q
Item: Item 8
Chunk 38
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 consideration for services were
included in the calculation of net loss per common share.

    9

2022
Equity Incentive Plan

In
November 2022, the Company’s Board of Directors adopted, and its shareholders approved the 2022 Equity Incentive Plan (the “Plan”).
The Plan provides for the granting of equity-based awards to employees, directors, and consultants. The Plan provides for equity-based
awards including incentive stock options, non-qualified stock options, stock appreciation rights, performance share awards, cash awards
and other equity-based awards. Awards are limited to a maximum term of 10 years and any exercise prices shall not be less than 100% of
the fair market value of one share of common stock on the grant date. The Plan authorized an initial maximum number of shares underlying
awards of 900,000 with an automatic annual increase to an amount equal to 15% of the total number of shares outstanding as of the end
of the preceding fiscal year. As of March 31, 2025, there are 497,260 awards authorized but unissued available under the Plan.

Stock
Options

The
following tables summarize the stock option activity for the three months ended March 31, 2025 and 2024:

 Schedule of Stock Options Activity   

    Number of Shares  
    Weighted-Average Exercise Price  
    Weighted-Average Remaining Contractual Term (Years)  
    Aggregate Intrinsic Value 
  
    Outstanding at December 31, 2024 
     832,731  
    $3.96  
     8.5  
    $       - 
  
    Granted 
     211,500  
    $2.19  

    Exercised 
     -  
    $-  

    Forfeited / canceled 
     (105,304) 
    $3.84  

    Outstanding at March 31, 2025 
     938,927  
    $3.57  
     8.6  
    $- 
  
    Vested at March 31, 2025 
     608,934  
    $3.87  
     8.1  
    $- 

    Number of Shares  
    Weighted-Average Exercise Price  
    Weighted-Average Remaining Contractual Term (Years)  
    Aggregate Intrinsic Value