Company: MIRA
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001641172-25-024077
Chunk: 10

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-08-14
Form: 10-Q
Item: Item 8
Chunk 10
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 reserve the right to determine whether and when to pay out any bonus amounts pursuant to or outside of the EICP, regardless of the
achievement of the performance targets. As the awards have not been granted officially through board approval, there is no grant date
under ASC 718, and therefore no measurement date for the value of such awards and no expense has been recorded for the awards granted
during the six months ended June 30, 2025.

    10

MIRA
PHARMACEUTICALS, INC.

NOTES
TO CONDENSED FINANCIAL STATEMENTS

FOR
THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

(Unaudited)

The
following is RSU activity during the six months ended June 30, 2025:

Schedule
of restricted stock unit activity 

    Number
    of Restricted Shares 
  
    Outstanding as December 31, 2024 
     500,000 
  
    RSU’s granted 
     - 
  
    Vested 
     (500,000)
  
    Expired 
     - 
  
    Forfeitures 
     - 
  
    Outstanding as June 30, 2025 
     - 

During
the year ended December 31, 2024, a total of 500,000 restricted stock units (“RSU”), with an aggregate fair market value
of approximately $0.6 million were granted to the Company’s Chief Executive Officer under the 2022 Omnibus Incentive Plan. These
RSU’s vest as follows: (i) 50% on February 12, 2025 (ii) 50% at 6-month anniversary of the date of grant. The awards were fair
valued using the closing price of the stock of $1.19 on December 6, 2024.

The
Company recognized $1.4 million
in stock compensation expense related to stock options and RSUs in 2025. This expense was recorded in General and Administrative expenses
on the accompanying statement of operations and additional paid in capital on the accompanying balance sheet as of June 30,
2025.

Warrants

The
Company has granted warrants to purchase shares of Common Stock. Warrants may be granted to affiliates in connection with certain agreements.
Warrant activity for the six months ended June 30, 2025 and 2024 is summarized below:

Schedule of warrant activity