Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 257

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 257
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 which performance is reached. A performance commitment is reached when performance by the non-employee is probable because of sufficiently large disincentives for nonperformance. DiamiR issued 44,000 restricted stock units (“RSUs”) in the fiscal year ending May 31, 2023 as compensation for services, subject to certain vesting conditions. No compensation expense related to the RSUs was recognized through August 31, 2025, as the vesting condition was not considered to be probable of achievement for accounting purposes. DiamiR also issued 140,000 options as consideration for consulting services received from third parties in the fiscal years ending May 31, 2023, subject to certain vesting conditions. In the year ended May 31, 2024, the 140,000 options were canceled and in their place 153,000 options were issued with amended terms, of which 58,500 options were subsequently forfeited. 152 DiamiR issued 88,000 RSUs and 154,000 stock options in the fiscal year ending May 31, 2023 to our Chief Executive Officer as compensation for services, subject to certain vesting conditions. No compensation expense related to these awards was recognized in the years ended May 31, 2025 or May 31, 2024, as the vesting conditions were not considered to be probable of achievement for accounting purposes. As of August 31, 2025 and May 31, 2025, unrecognized stock-based compensation expense related to awards for which vesting is not considered probable was $1,093,712 and $1,093,712, respectively. As of August 31, 2025 and May 31, 2025, unrecognized stock-based compensation expense related to restricted stock units for which vesting is not considered probable was $652,080 and $652,080, respectively. This compensation expense will be recognized in future periods if DiamiR determines the vesting conditions have become probable. Fair Value of Stock Due to the absence of an active market for our common stock, the fair value of DiamiR’s stock was determined by its board of directors, based on the definition of ‘fair value’ in the FASB ASC Topic 820, FairValue Measurement and Disclosures, which states that “fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.” In arriving at a conclusion, the board reviewed and