Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1359

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 5
Chunk 1359
---
 September
17, 2021. Under the 2021 Plan, 1,125,000 shares of common stock were initially authorized for issuance to employees, directors and independent
contractors (except those performing services in connection with the offer or sale of the Company’s securities in a capital raising
transaction, or promoting or maintaining a market for the Company’s securities) of the Company or its subsidiaries. The 2021 Plan
authorizes equity-based and cash-based incentives for participants. On July 22, 2022, the Board of Directors increased the shares authorized
for issuance pursuant to the 2021 Plan to 1,710,000. The Company does not intend to make any grants under the 2021 Plan.

The
Board of Directors and stockholders of the Company approved the 2023 Plan on October 4, 2023. Under the 2023 Plan, 4,012,785 shares of
common stock were authorized for issuance to employees, directors and independent contractors (except those performing services in connection
with the offer or sale of the Company’s securities in a capital raising transaction, or promoting or maintaining a market for the
Company’s securities) of the Company or its subsidiaries. As of March 28, 2025, there were 2,139,240 shares available for
issuance under the 2023 Plan.

ITEM
13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 

Policies
and Procedures for Related Party Transactions

Under
Item 404 of SEC Regulation S-K, a related person transaction is any actual or proposed transaction, arrangement or relationship or series
of similar transactions, arrangements or relationships, including those involving indebtedness not in the ordinary course of business,
to which we or our subsidiaries were or are a party, or in which we or our subsidiaries were or are a participant, in which the amount
involved exceeded or exceeds the lesser of $120,000 or 1% of the average of our total assets at year-end for the last two completed fiscal
years and in which any of our directors, nominees for director, executive officers, beneficial owners of more than 5% of any class of
our voting securities, or any member of the immediate family of any of the foregoing persons, had or will have a direct or indirect material
interest.

We
recognize that transactions between us and any of our directors or executives or with a third party in which one of our officers