Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 483

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 483
---
 December 31, 2022 |     |     89,300 |   |     |    32.71 |     |          9.64 |     | —         |

____________

(1)

The weighted-average grant date fair value of share option grants during the years ended December 31, 2023 and 2022 was $ and $, respectively. The maximum contractual term for share option was years.

The fair value of each stock option award is estimated on the date of grant using the Black-Scholes option pricing model under the following assumptions.

|                                          |     | Granted in 
 2023       |        |   |     |     Granted in 
           2022 |
| Expected volatility                      |     |            | 170.10 | % |     |         89.55% |
| Risk-free interest rate                  |     |            |   3.48 | % |     |          1.86% |
| Expected term from grant date (in years) |     |            |   5.25 |   |     |    5.63 – 6.41 |
| Dividend rate                            |     |            |      — |   |     |              — |
| Dilution factor                          |     |            |      1 |   |     |              1 |
| Fair value                               |     | $          |   2.68 |   |     | $9.74 – $10.16 |

In connection with the grant of share options to employees and non-employees, the Group recorded share-based compensation charges of $ and $, respectively, for the year ended December 31, 2023, and $ and $, respectively, for the year ended December 31, 2022. For the year ended December 31, 2024, there were no charges related to share-based compensation.

F-31

APTORUM GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Stated in U.S. Dollars) 18. NON-CONTROLLING INTEREST On February 25, 2022, Aptorum Medical Limited issued 119shares to Clark Cheng in according to the appointment agreement, decreasing the equity interest of the Company from 92% to 91%. On February 1, 2023, Aptorum Medical Limited further issued 122shares to Clark Cheng in according to the appointment agreement, decreasing the equity interest of the Company from 91% to 90