Company: TELO
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021496
Chunk: 15

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 15
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 per share. Both issuances of warrants
are immediately vested and will be exercisable any time until the day that is one year plus ninety days from the date an IND filing is
made with the FDA.

2023
Omnibus Incentive Plan

In
December 2023, the Company’s Board of Directors adopted the Company’s 2023 Omnibus Incentive Plan, (“2023 Omnibus Plan”).
The 2023 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 nonstatutory
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

The
2023 Omnibus Plan provides that 6,500,000 shares of the Company’s Common Stock are reserved for issuance under the 2023 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-Scholes valuation model that uses assumptions for expected
volatility, expected dividends, expected term, and the risk-free interest rate. Expected price volatility is based on the historical
volatilities of a peer group as the Company does not have a multi-year trading history for its shares. Industry peers consist of several
public companies in the biotech industry similar to the Company in size, stage of life cycle and product indications. The Company intends
to continue to consistently apply this process using the same or similar public companies until a sufficient amount of historical information
regarding the volatility of the Company’s own stock price becomes available, or unless circumstances change such that the identified
companies are no longer similar to the Company, in which case, more suitable companies whose share prices are publicly available would
be utilized in the calculation.

Expected
term of options granted is derived using the “simplified method” which computes expected term as the average of the sum of
the vesting term plus contract term. The risk-free rate is based on the 5-year U.S. Treasury yield curve in effect at the time of grant.
The Company recognizes forfeitures as they occur.

    11

The
following is option activity during the nine months ended September 30,