Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 2102

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 9A
Chunk 2102
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 in two even quarterly tranches on September 30, 2023 and December 31, 2023. Contingent on
the receipt of shareholder approval to increase the number of shares authorized under the 2022 Plan, each director was entitled to receive
126 additional non-qualified options at a per share exercise price of $318.00, vesting 100% on the first anniversary of our IPO. On July
16, 2024, the Company’s stockholders approved the proposal to increase the number of shares available under the 2022 Plan and on
such date, the directors’ additional option grants were considered effective and were fully vested on the date of grant. In November
2024, the Board approved a cash payment of $20,000 to each non-executive director in lieu of equity-based fees for 2024 services.

Compensation Committee Review

The Compensation Committee shall, if it deems
necessary or prudent in its discretion, reevaluate and approve in January of each such year (or in any event prior to the first Board
meeting of such fiscal year) the cash and equity awards (amount and manner or method of payment) to be made to non-employee directors
for such fiscal year. In making this determination, the Compensation Committee shall utilize such market standard metrics as it deems
appropriate, including, without limitation, an analysis of cash compensation paid to independent directors of our peer group.

The Compensation Committee shall also have the
power and discretion to determine in the future whether non-employee directors should receive annual or other grants of options to purchase
shares of common stock or other equity incentive awards in such amounts and pursuant to such policies as the Compensation Committee may
determine utilizing such market standard metrics as it deems appropriate, including, without limitation, an analysis of equity awards
granted to independent directors of our peer group.

74

Policies and Practices for Granting Certain Equity Awards

Our policies and practices regarding the granting
of equity awards are carefully designed to ensure compliance with applicable securities laws and to maintain the integrity of our executive
compensation program. The Compensation Committee is responsible for the timing and terms of equity awards to executives and other eligible
employees.

The timing of equity award grants is determined
with consideration to a variety of factors, including but not limited to, the achievement of pre-established performance targets, market
conditions and internal milestones. The Company does not follow a predetermined schedule for the granting of equity awards; instead,
each grant is considered on a case-by