Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 1172

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 1172
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,167 stock options to an executive.

For the year ended December 31, 2024, the Company
recognized $32,767 of compensation expense related to stock option awards ($119,246 for the year ended December 31, 2023). No stock options
were exercised, forfeited, or expired during the period presented. As of December 31, 2024, the Company had $116,466 of unrecognized
share-based compensation expense related to unvested options that is expected to be recognized over a weighted-average period of approximately
4.0 years.

F-32

Awards Not Yet Granted

In December 2024, the Board approved the grant
of a total of 120,000 stock options to two executives at a per share exercise price equal to the closing price of our common stock on
January 2, 2025. These options are subject to vesting annually in five equal tranches, with the first tranche fully vested on the date
of grant (January 2, 2025) and thereafter, vest on the last date of each fiscal year beginning December 31, 2025. For accounting and
disclosure purposes, no fair value has been ascribed to these stock option awards as of December 31, 2024 as the grant date (as defined
in ASC 718) had not been established.

Restricted Stock Units

Compensation cost for service-based RSUs is based
on the grant date fair value of the award, which is the closing market price of the Company’s common stock on the grant date multiplied
by the number of shares awarded.

The following table summarizes the Company’s
RSU activity for the year ended December 31, 2024:

     Number
                                            of
                                            Units  
     Weighted
                                            Average 
                                            Grant Date Fair 
                                            Value 
  
    Unvested balance, December 31, 2023 
          -
                                               
    $- 
  
    Granted 
     -  
     - 
  
    Vested 
     -  
     - 
  
    Forfeited 
     -  
     - 
  
    Unvested balance, December 31, 2024 
     -  
    $- 

The following table summarizes the Company’s
RSU activity for the year ended December 31, 2023:

    Number of
    Units  
    Weighted