Company: OCEA
Filing Date: 2025-04-08
Form Type: 10-K
Source: 0001641172-25-003155
Chunk: 495

Company: Ocean Biomedical, Inc.
Filing Date: 2025-04-08
Form: 10-K
Item: Item 3
Chunk 495
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, respectively,
and was recorded within general and administrative expense in the Company’s consolidated statements of operations, as discussed
below.

The
following table summarizes stock option activity during the fiscal year ended December 31, 2024:

 Schedule
of Stock Option Activity

    Stock Options  
    Weighted Average Exercise Price  
    Weighted Average Remaining Contractual Life (in years)  
    Aggregate Intrinsic Value (in thousands) 
  
    Outstanding at January 1, 2023 
     —  
    $—  
     —  
     — 
  
    Options granted 
     600,000  
     10.00  
     2.1  
     — 
  
    Options cancelled or forfeited 
     —  
     —  
     —  
     — 
  
    Outstanding at December 31, 2023 
     600,000  
     10.00  
     2.1  
     — 
  
    Options granted 
     —  
     —  
     —  
     — 
  
    Options cancelled or forfeited 
     —  
     —  
     —  
     — 
  
    Outstanding at December 31, 2024 
     600,000  
    $10.00  
     1.2  
     — 

The
aggregate intrinsic value in the above table is calculated as the difference between the fair value of the Company’s common stock
as of December 31, 2024 and the exercise price of the stock options. As of December 31, 2024, the total unrecognized compensation related
to unvested stock option awards granted was $0.9 million, which the Company expects to recognize over a weighted-average period of approximately
1.2 years. No stock options were exercised during the period.

2022
Employee Stock Purchase Plan

The
Board approved and adopted the 2022 Employee Stock Purchase Plan (the “ESPP”) prior to the Closing of the Business Combination.

Subject
to adjustment, 2,180,000 shares of common stock are available for purchase pursuant to the exercise of options under the ESPP. Shares
to be delivered upon exercise of options under the ESPP may be authorized but unissued stock, treasury stock, or stock acquired in an
open-market transaction. Subject to certain requirements