Company: IPST
Filing Date: 2025-06-13
Form Type: S-1
Source: 0001641172-25-015121
Chunk: 342

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-06-13
Form: S-1
Chunk 342
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 shares at the grant date amortized over the stated period for only those shares that are not subject to the double trigger.

The following table summarizes the RSU activity for the years ended December 31, 2024 and 2023:

SUMMARY OF RSU’s

|                                               |     | Restricted  Stock  Units |          |   |     | Weighted Average  Exercise Price  Per Share |        |
|:----------------------------------------------|:----|:-------------------------|---------:|:--|:----|:--------------------------------------------|-------:|
| Unvested and Outstanding at December 31, 2022 |     |                          |  105,727 |   |     | $                                           | 157.89 |
| Granted                                       |     |                          |   14,015 |   |     | $                                           | 157.89 |
| Forfeited/Canceled/Expired                    |     |                          |   (2,798 | ) |     | $                                           | 157.89 |
| Unvested and Outstanding at December 31, 2023 |     |                          |  116,944 |   |     | $                                           | 157.89 |
| Granted                                       |     |                          |  234,525 |   |     | $                                           |   4.00 |
| Forfeited/Canceled/Expired                    |     |                          | (105,880 | ) |     | $                                           | 157.89 |
| Vested and Outstanding at December 31, 2024   |     |                          |  245,589 |   |     | $                                           |  10.93 |

During the year ended December 31, 2024, the Company recognized $ 4,892,110stock-based compensation expense (including $ 312,500accrued but not yet awarded) in connection with RSU awards granted under the plans. Compensation expense for RSU awards is recognized upon meeting both the time-vesting condition and the triggering event condition. During the year ended December 31, 2024, 520restricted stock units (“RSUs”) were forfeited. In May 2024, 105,360RSUs were voluntarily terminated, and 2,500were issued, leaving 11,064issued RSUs to settle at a grant value of $ 157.89per unit. In May 2024, the Board of Directors approved awarding 234,525RSUs to employees, directors and consultants