Company: CERO
Filing Date: 2025-12-05
Form Type: S-1
Source: 0001213900-25-118817
Chunk: 381

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-12-05
Form: S-1
Chunk 381
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 |             | 74,151 |     | $         |  22.67 |     |             | 9.57 |
| Options exercisable as of September 30, 2025 |     |             | 24,489 |     | $         |  39.90 |     |             | 9.48 |

The Company estimated the
fair value of the stock options during the nine months ended September 30, 2025 and for the period from February 14, 2024 to September
30, 2024 using Black-Scholes with the following assumptions.

|                          |     |  Nine Months Ended 
      September 30, 
               2025 |     | February 14,          
 2024 to September 30, 
 2024                  |
|:-------------------------|:----|-------------------:|:----|:----------------------|
|                          |     |         -Successor |     | -Successor            |
| Risk-free interest rate  |     |     3.98% to 4.01% |     | 4.46% to 4.79%        |
| Expected life (in years) |     |                5.0 |     | 5.0 to 6.0            |
| Expected dividend yield  |     |                 -% |     | -%                    |
| Expected volatility      |     | 104.54% to 121.09% |     | 143.4% to 153.5%      |

There were no stock options
granted during the predecessor period from January 1, 2024 and February 13, 2024.

For the period from February
14, 2024 through September 30, 2024, the Company recorded stock-based compensation expense of $, of which $ was related
to R&D and $ was related to general and administrative. For the period from January 1, 2024 through February 13, 2024, Predecessor
recorded an immaterial amount of stock-based compensation expense.

For the three months ended
September 30, 2025, the Company recorded stock-based compensation expense of $, of which $ was related to research and development
and $ was related to general and administrative. For the nine months ended September 30, 2025, the Company recorded stock-based
compensation expense of $, of which $ was related to research and development and $