Company: FTII
Filing Date: 2025-02-14
Form Type: S-4
Source: 0001493152-25-006997
Chunk: 619

Company: FutureTech II Acquisition Corp.
Filing Date: 2025-02-14
Form: S-4
Chunk 619
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 purchase its common stock, stock appreciation rights, restricted stock, or restricted stock units to the Company’s employees, directors, and consultants. To date only options to purchase the Company’s common stock have been issued. A total of 600,000 shares have been reserved for issuance under the 2015 Plan of which 71,648 are available for future grant as of September 30, 2024 and December 31, 2023, respectively.

| F-97 |

<div align='center'>CEREVAST MEDICAL, INC.

NOTES TO FINANCIAL STATEMENTS (UNAUDITED)</div>

The exercise price of stock options granted under the 2015 Plan is equal to the fair market value of the Company’s common stock on the date of grant as determined by the board of directors. The stock options vest in accordance with the terms as determined by the Company’s board of directors which is generally four years but may vary for individual stock option grants and may include performance-based vesting criteria. The expiry date for each stock option grant is set by the Company’s board of directors with a maximum expiry date of ten years from the date of grant.

Stock Compensation

The Company recognizes expense related to the fair value of its stock options using the provisions of ASC 718. The Company uses the Black-Scholes option pricing model as the most appropriate fair value method for its stock options and recognizes compensation expense for stock options on a straight-line basis over the requisite service period. For performance-based stock option grants, the Company recognizes expense over the expected performance period if it is determined that achievement of the performance criteria is probable. No expense is recognized unless and until the achievement of such performance criteria is determined to be probable.

There were no stock options granted under the 2015 Plan during the nine months ended September 30, 2024 or 2023.

Stock-based compensation expense is recorded as either research and development or general and administrative expense as presented in the statement of operations based on the employee or consultant classification. Stock-based compensation expense was recognized in the Company’s statement of operations for the periods presented as follows:

| Expense Category                 |     | Three Months Ended September 30, 
 2024                             |   |     | 2023 |   |     | Nine Months Ended September 30, 
 2024                            |   |     | 2023 |        |
|:---------------------------------|:----|:---------------------------------|:--|:----|:-----|:--|:----|:--------------------------------