Company: MIRA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024077
Chunk: 9

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 9
---
9.2  
    $- 
  
    Options granted 
     75,000  
    $1.18  
     -  
    $- 
  
    Expired 
     (33,332) 
    $2.19  
     -  

    Forfeitures 
     (75,000) 
    $1.19  
     -  
    $- 
  
    Outstanding as June
    30, 2025 
     4,202,334  
    $1.83  
     8.15  
    $- 
  
    Exercisable, June
    30, 2025 
     3,988,167  
    $1.87  
     8.1  
    $- 

The
fair value of the options granted in 2025 was estimated on the grant date using the Black-Sholes valuation method and level 3 inputs
based on assumptions for expected volatility, expected dividends, expected term and the risk-free interest rate which resulted in $0.09
million in value.

Key
assumptions used to value options issued in the quarter are as follows:

SCHEDULE
OF FAIR VALUE OPTIONS ISSUED

    Expected price volatility 
     209.95%
  
    Risk-free interest rate 
     4.15%
  
    Fair Market Value of Underlying Common Stock 
    $1.18 
  
    Expected Term in Years range 
      5.38 years 
  
    Dividend yield 
     - 

On
March 26, 2025, the compensation committee of the Company adopted the Company’s Executive Incentive Compensation Plan (the “EICP”)
for Erez Aminov, its Chairman and Chief Executive Officer. Under the EICP, Mr. Aminov will be eligible for certain long-term awards of
up to 500,000 performance-based restricted stock units of the Company’s common stock, par value $0.001 upon the Company achieving
specified milestones based upon the Company reaching certain market capitalization values and the progress of the Company’s drug
candidates. All awards under the EICP are subject to the approval of the Board and the Committee. Furthermore, the Board and the Committee,
each in its sole discretion, generally retain the right to amend, supplement, supersede or cancel any awards under the EICP for any reason,
and