Company: MLSS
Filing Date: 2025-11-12
Form Type: DEF 14A
Source: 0001493152-25-021913
Chunk: 23

Company: MILESTONE SCIENTIFIC INC.
Filing Date: 2025-11-12
Form: DEF 14A
Chunk 23
---
,579,778 |
| Total                                             |     |                                                                                     | 3,051,985 |     | $                                                                   |    - |     |                                                                                             | 7,579,778 |

| 1. | The                                                                                                                                    
 2020 plan, as amended and restated in 2021 and amended during 2024, provides for awards of restricted common stock and options to      
 purchase up to a maximum of 11,500,000 shares of common stock and expires in December 2030. Options may be granted to employees,       
 directors, and consultants of Milestone Scientific for the purchase of shares of common stock at a price not less than the fair market 
 value of common stock on the date of grant. In general, options become exercisable over a three-year period from the grant date and    
 expire five years after the date of grant. During the year ended December 31, 2024, 7,579,778 options and shares were issued.          |

<div align='center'>CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE</div>

United Systems

Milestone Scientific has a supply agreement with United Systems the principal supplier of its handpieces, pursuant to which it procures manufactured products under specific purchase orders, but without minimum purchase commitments. Purchases from this supplier were approximately $1.7 million and $2.3 million for the twelve months ended December 31, 2024, and 2023, respectively. As December 31, 2024, and December 31, 2023, Milestone Scientific owed this supplier approximately $664,000 and $402,000, respectively, which is included in accounts payable and accrued expenses related party on the consolidated balance sheets. In June 2021, the Company signed a ten-year agreement with United Systems for supplier of the handpieces

Other

For the year ended December 31, 2023, the Company had approximately $270,000 sales to Milestone China or agents of Milestone China, an entity in which the Company formerly had an ownership interest terminating in 2021. The Company reported no sales to Milestone China or agents of Milestone China during the year ended December 31,2024.

| Page 22 of 31 |

K. Tucker Andersen, a significant stockholder of Milestone Scientific, has an agreement with Milestone Scientific to provide financial and business strategic services. Expenses recognized on this agreement were $100,000 for year ended December