Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 1822

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 7A
Chunk 1822
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 Incentive Plan

Overview

On November 22, 2022, our Board and our
stockholders approved the 60 Degrees Pharmaceuticals, Inc. 2022 Equity Incentive Plan. The 2022 Plan governs equity awards to our
employees, directors, officers, consultants and other eligible participants. Initially, the maximum number of shares of our common
stock that may be subject to awards under the 2022 Plan was equal to 3,977. The 2022 Plan provides for an automatic increase in the
number of shares available for issuance beginning on January 1, 2023 and each January 1 thereafter, by 4% of the number of
outstanding shares of common stock on the immediately preceding December 31, or such number of shares as determined by the Board of
Directors. As of March 27,  2025, the Board has reserved 215,452 shares of common stock issuable upon the grant of awards under
the Plan, of which 57,068 shares remain available for issuance.

The purpose of the 2022 Plan is to attract and
retain the best available personnel for positions of substantial responsibility, to provide additional incentive to employees, directors
and consultants, and to promote the success of our business. The administrator of the 2022 Plan may, in its sole discretion, amend, alter,
suspend or terminate the 2022 Plan, or any part thereof, at any time and for any reason. We will obtain stockholder approval of any 2022
Plan amendment to the extent necessary and desirable to comply with legal and regulatory requirements relating to the administration
of equity-based awards. Unless earlier terminated by the administrator, the 2022 Plan will terminate ten years from the date it is adopted
by our Board.

70

Plan Administration

One or more committees appointed by our Board
will administer the 2022 Plan. Initially, the Compensation Committee shall administer the 2022 Plan. In addition, if we determine it
is desirable to qualify transactions under the 2022 Plan as exempt under Rule 16b-3 of the Exchange Act, such transactions will be structured
with the intent that they satisfy the requirements for exemption under Rule 16b-3. Subject to the provisions of the 2022 Plan, the administrator
has the power to administer the 2022 Plan and make all determinations deemed necessary or advisable for administering the 2022 Plan,
including the power to determine the fair market value of our common