Company: SHPH
Filing Date: 2025-04-21
Form Type: DEFR14A
Source: 0001641172-25-005474
Chunk: 5

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-04-21
Form: DEFR14A
Chunk 5
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 RANGE OF 1-FOR-3 TO 1-FOR-100 (THE “REVERSE STOCK SPLIT”), TO BE EFFECTUATED AT THE BOARD’S DISCRETION WHEN AND AS NEEDED.

The Board of Directors recommends that you vote FOR authorization of the Board of Directors to amend the Company’s amended and restated certificate of incorporation to effect a reverse stock split of all of the Company’s issued and outstanding common stock by a ratio in the range of 1-for-3 to 1-for-100, with such Reverse Stock Split to be available for the Board to approve and effectuate at its discretion on an as needed basis. We are seeking this flexibility to assist the Company in weathering the current uncertain market conditions. We believe that conducting the Reverse Stock Split, and then having additional availability to conduct a further reverse stock split if needed, is in the best interest of the Company and its stockholders.

PROPOSAL NO. 5: APPROVAL OF THE FIRST AMENDMENT TO THE SHUTTLE PHARMACEUTICALS HOLDINGS, INC. 2018 EQUITY INCENTIVE PLAN TO INCREASE THE AMOUNT OF SHARES RESERVED FOR ISSUANCE BY 5,000,000 SHARES OF COMMON STOCK.

The Board of Directors recommends that
you vote FOR the first amendment to the Shuttle Pharmaceuticals Holdings, Inc. 2018 Equity Incentive Plan to increase the amount of shares
reserved for issuance by 5,000,000 shares of common stock. We believe that increase the number of shares reserved under the Company’s
2018 Equity Incentive Plan is in the best interest of the Company and its stockholders.

PROPOSAL NO. 6: APPROVAL OF THE ISSUANCE OF MORE THAN 19.99% OF OUR COMMON STOCK UPON CONVERSION OF THE OCTOBER 2024 CONVERTIBLE NOTES IN ACCORDANCE WITH NASDAQ LISTING RULE 5635(D).

The Board of Directors recommends that you vote
FOR the issuance of more than 19.99% of our common stock upon conversion of convertible notes issued to investors in the October 2024
private placement, in compliance with Nasdaq Listing Rule 5635(d). We believe the approval of the issuance in excess of 19.99% of our
common stock upon conversion of the October 2024 convertible notes will be of benefit to the Company and its stockholders as converting
the Convertible Notes will allow us to preserve cash and apply any cash that would have been paid