Company: SXTPW
Filing Date: 2025-02-14
Form Type: S-1
Source: 0001213900-25-014334
Chunk: 260

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-02-14
Form: S-1
Chunk 260
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 stock units and performance awards to eligible employees, directors and consultants, to be granted from time to time
by the Board of Directors of the Company. The 2022 Plan provides for an automatic increase in the number of shares available for issuance
beginning on January 1, 2023 and each January 1 thereafter, by % of the number of outstanding shares of common stock on the immediately
preceding December 31, or such number of shares as determined by the Board of Directors. On July 16, 2024, at the Company’s 2024
Annual Stockholders’ Meeting, the Company’s stockholders approved the proposal to amend the 2022 Plan to increase the number
of shares available for issuance by shares. As of September 30, 2024, the number of remaining shares available for issuance under
the 2022 Plan is equal to .

F-28

Stock Grants

On July 11, 2023, the Company recognized $
of share-based compensation expense upon the issuance of shares of common stock to the Company’s Board of Directors, by virtue
of the terms of the agreements described in Note 12, which is reflected in general and administrative expenses in the Consolidated Condensed
Statements of Operations and Comprehensive (Loss) Income.

Stock Options

The Company grants stock options to employees,
non-employees, and Directors with exercise prices equal to the closing price of the underlying shares of the Company’s common stock
on the Nasdaq Capital Market on the date that the options are granted. Options granted generally have a term of five or ten years from
the grant date and are subject to vesting as determined in the individual award agreement. The Company estimates the fair value of stock
options on the grant date by applying the Black-Scholes option pricing valuation model.

The following table summarizes the significant
assumptions used in determining the fair value of options granted for the three and nine months ended September 30, 2024:

|                                        |     |           2024 |
| Weighted-average grant date fair value |     |           1.76 |
| Risk-free interest rate                |     | 3.62% - 4.17 % |
| Expected volatility                    |     | 86.0% - 87.0 % |
| Expected term (years)                  |     |   6.41 - 10.00 |
| Expected dividend yield                |     |          0.00% |

The following table summarizes the significant