Company: DARE
Filing Date: 2025-11-13
Form Type: 10-Q
Source: 0001401914-25-000050
Chunk: 45

Company: Dare Bioscience, Inc.
Filing Date: 2025-11-13
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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, and became effective as of that date. In April 2025, the Company's board of directors approved an amendment to the 2022 Plan to increase the number of shares of common stock available for issuance thereunder by 600,000, which was subsequently approved by the Company's stockholders on July 9, 2025. The 2022 Plan provides for the grant of stock-based incentive awards to employees, directors, consultants, and advisors. As of September 30, 2025, the number of shares of common stock authorized for issuance under the 2022 Plan was 1,949,085, which is the sum of:(a)540,043 shares available for awards that may be granted under the 2022 Plan, plus(b)1,015,783 shares underlying awards granted under the 2022 Plan, plus(c)393,259 shares underlying awards granted under the Amended 2014 Plan, which if they expire, terminate or are otherwise forfeited will become available for issuance under the 2022 Plan.Options granted are exercisable at various dates as determined upon grant and will expire no more than ten years from their date of grant. Stock options generally vest over a four-year term. The exercise price of each option is determined by the Company's board of directors or its compensation committee based on the estimated fair value of the Company's stock on the date of grant. Summary of Stock Option ActivityThe table below summarizes stock option activity under the Company's stock incentive plans and related information for the nine months ended September 30, 2025. The exercise price of all options granted during the nine months ended September 30, 2025 was equal to the market value of the Company’s common stock on the date of grant. As of September 30, 2025, unamortized stock-based compensation expense of approximately $2.2 million will be amortized over a weighted average period of 1.15 years. The number of shares of common stock available for future awards granted under the 2022 Plan as of September 30, 2025 was 540,043.

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Number of SharesWeighted AverageExercise PriceOutstanding at December 31, 2024883,334 $14.58 Granted583,890 Exercised— Cancelled/forfeited(765)Expired(57,417)Outstanding at September 30, 20251,409,042 $9.41 Exercisable at September 30