Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 1274

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 10
Chunk 1274
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967 shares
of Common Stock in 2024 at an average price per share of $1.65 and received net proceeds of approximately $3.6 million, after
deducting commissions and other fees of $0.13 million.

    F-16

MIRA
                                            PHARMACEUTICALS, INC.

NOTES
TO THE FINANCIAL STATEMENTS

DECEMBER
31, 2024 AND 2023

Stock
settlement agreement

On
April 24, 2024 the Company settled a claim submitted by certain shareholders under Section 16 of the Securities Exchange Act involving
the Company that claimed illegal profits were earned on stock transactions involving insiders of the Company. After investigation, the
Company informed the insider, Bay Shore Trust, of the claim and came to agreement with the shareholders, whereby requiring the disgorgement
of profits by the insider back to the Company in the amount of $148,703, which was recorded in additional paid in capital in the accompanying
financial statements.

2022
Omnibus Incentive Plan

In
June 2022, the Company’s Board of Directors adopted, and its stockholders approved, the Company’s 2022 Omnibus Incentive
Plan, as amended and restated in August 2023, (“2022 Omnibus Plan”). The 2022 Omnibus Plan authorizes the grant of incentive
stock options, within the meaning of Section 422 of the Internal Revenue Code, to the Company’s employees and any of its parent
and subsidiary corporations’ employees, and for the grant of non-statutory stock options, restricted stock, restricted stock units,
stock appreciation rights, performance units and performance shares to the Company’s employees, directors, and consultants and
any of its future subsidiary corporations’ employees and consultants. On September 12, 2024, the Company held its 2024 Annual Meeting
of Stockholders (the “Annual Meeting”) in which it was voted upon to increase the shares provided under the plan from 2,000,000
shares to 5,000,000 shares as summarized below.

The
2022 Omnibus Plan provides that 5,000,000 shares of the Company’s Common Stock are reserved for issuance under the 2022 Omnibus
Plan, all of which may be issued pursuant to the exercise of incentive stock options.

Stock-based
compensation

The
fair value of each option award is estimated on the grant date using the Black-S