Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 481

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 481
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, the Group issued 446,842Class A Ordinary Shares to Class B Ordinary Shares holders upon conversion. For the year ended December 31, 2023, the Group issued 1,250,000Class A Ordinary Shares to convertible note holders upon conversion (See Note 15). Holders of Class A Ordinary Shares and Class B Ordinary Shares have the same rights except for the following: (i) each Class A Ordinary Share is entitled to onevote while each Class B Ordinary Share is entitled to tenvotes; and (ii) each Class B Ordinary Share is convertible into one Class A Ordinary Share at any time while Class A Ordinary Shares are not convertible under any circumstances. F-29

APTORUM GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Stated in U.S. Dollars)

17. SHARE BASED COMPENSATION

Share option plan

On October 13, 2017, the Group adopted the 2017 Share Option Plan (the “Option Plan”) and on November 5, 2021, the Group amended the Option Plan. A total of Class A Ordinary Shares (subject to subsequent adjustments described more fully below) may be issued pursuant to awards under the Option Plan. Subsequent adjustments include that on each January 1, starting with January 1, 2020, an additional number of shares equal to the lesser of (i) % of the outstanding number of Class A Ordinary Shares (on a fully diluted basis) on the immediate preceding December 31, and (ii) such lower number of Class A Ordinary Shares as may be determined by the board of directors, subject in all cases to adjustments as provided in Section 10 of the Option Plan. Awards will be made pursuant to agreements and may be subject to vesting and other restrictions as determined by the board of directors.

options were granted on March 8, 2022 to directors, employees, external consultants and advisors of the Group with an exercise price of $ per share, which was based on the average closing price of the shares traded on the NASDAQ stock exchange for the five trading days immediately preceding the grant date. options vest on January 1, 2023 and expire on ; options vest on January 1, 2024 and expire on ; options vest on June 8, 2022 and expire on ; and options vest on July 14, 2022 and expire on .

On March 31, 2023, the Group entered into exchange agreements and cancelled existing vested and