Company: ARTL
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001640334-25-000335
Chunk: 487

Company: ARTELO BIOSCIENCES, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1C
Chunk 487
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2)  -   -   -   50,630 R. Martin Emanuele, Ph.D.(6)  44,000   -   10,136(2)  -   -   -   54,136 Steven Kelly(7)  59,500   -   10,956(2)  -   -   -   70,456 Tamara A. Favorito(8)  60,000   -   3,251(2)  -   -   -   63,251 

(1)In accordance with SEC rules, the amounts shown reflect the aggregate grant date fair value of stock awards granted to Non-Employee Directors during 2024, computed in accordance with Financial Accounting Standards Board Accounting Standards Codification Topic 718 (“FASB ASC 718”). The grant date fair value for stock options is measured based on the Black-Scholes Model. See Note 5 – Equity to our audited financial statements included in this Annual Report on Form 10-K:(2)On February 28, 2024, previously issued options were repriced to $1.55 and had their vesting schedules modified.  As per ASC 718 the changes were treated as modifications to the options.(3)17,235 option awards outstanding as of December 31, 2024.(4)15,334 option awards outstanding as of December 31, 2024.(5)12,834 option awards outstanding as of December 31, 2024.(6)14,869 option awards outstanding as of December 31, 2024.(7)15,952 option awards outstanding as of December 31, 2024.(8)6,834 option awards outstanding as of December 31, 2024.

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Outside Director Compensation Policy

In August 2023, the Company revised the Outside Director Compensation Policy. The Outside Director Compensation Policy provides for the following cash compensation program for our non-employee directors:

 ·$40,000 per year for service as a non-employee director;    ·$25,000 per year additionally for service as chairperson of our board of directors;    ·$15,000 per year additionally for service as chairperson of the audit committee;    ·$7,500 per year additionally for