Company: IPST
Filing Date: 2025-01-27
Form Type: S-1
Source: 0001213900-25-006695
Chunk: 325

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-01-27
Form: S-1
Chunk 325
---
 anticipation
of the Company’s reorganization on May 1, 2019, the HDHC Board and the HDHC sole stockholder approved HDHC’s 2019 Equity
Incentive Plan (the “2019 Plan”).

The 2019 Plan allows for the grant of incentive
stock options (“ISOs”), nonqualified stock options (“NQSOs”), stock appreciation rights (“SARs”),
restricted stock, RSU awards, performance shares, and performance units to eligible participants for ten (10) years (until April 2029).
The cost of awards under the 2019 Plan generally is based on the fair value of the award on its grant date. The maximum number of shares
that may be utilized for awards under the 2019 Plan is .

| Options Outstanding                     |     | Number of 
 Shares    |        |   |     | Weighted-      
 Average        
 Exercise Price 
 Per Share      |        |     | Weighted-   
 Average     
 Remaining   
 Contractual 
 Term        
 (in years)  |      |     | Aggregate       
 Intrinsic Value |   |
|:----------------------------------------|:----|:----------|-------:|:--|:----|:---------------|-------:|:----|:------------|-----:|:----|:----------------|:--|
| Outstanding at December 31, 2021        |     |           |  8,470 |   |     | $              | 157.89 |     |             | 3.82 |     | $               | — |
| Forfeited                               |     |           |   (333 | ) |     | $              | 157.89 |     |             |      |     |                 |   |
| Outstanding at December 31, 2022        |     |           |  8,137 |   |     | $              | 157.89 |     |             | 2.78 |     | $               | — |
| Exercisable at December 31, 2022        |     |           |  7,847 |   |     | $              | 157.89 |     |             | 2.76 |     | $               | — |
| Forfeited                               |     |           | (1,959 | ) |     | $              | 157.89 |     |             |      |     |                 |   |
| Outstanding at December 31, 2023        |