Company: APM
Filing Date: 2025-12-05
Form Type: 424B5
Source: 0001213900-25-118752
Chunk: 274

Company: Aptorum Group Ltd
Filing Date: 2025-12-05
Form: 424B5
Chunk 274
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 purposes.

DiamiR also issued 140,000
options as consideration for consulting services received from third parties in the fiscal years ending May 31, 2023, subject
to certain vesting conditions. In the year ended May 31, 2024, the 140,000 options were canceled and in their place 153,000 options
were issued with amended terms, of which 58,500 options were subsequently forfeited.

<div align='center'>152</div>

DiamiR issued 88,000 RSUs and
154,000 stock options in the fiscal year ending May 31, 2023 to our Chief Executive Officer as compensation for services, subject
to certain vesting conditions. No compensation expense related to these awards was recognized in the years ended May 31, 2025
or May 31, 2024, as the vesting conditions were not considered to be probable of achievement for accounting purposes.

As of August 31, 2025 and May 31,
2025, unrecognized stock-based compensation expense related to awards for which vesting is not considered probable was $1,093,712 and
$1,093,712, respectively. As of August 31, 2025 and May 31, 2025, unrecognized stock-based compensation expense related to restricted
stock units for which vesting is not considered probable was $652,080 and $652,080, respectively. This compensation expense will be recognized
in future periods if DiamiR determines the vesting conditions have become probable.

Fair Value of Stock

Due to the absence of an active
market for our common stock, the fair value of DiamiR’s stock was determined by its board of directors, based on the definition
of ‘fair value’ in the FASB ASC Topic 820, FairValue Measurement and Disclosures, which states that “fair
value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants
at the measurement date.” In arriving at a conclusion, the board reviewed and analyzed information provided by management, including
financial information, business plans, and cost data, and collected and analyzed firm values and transactional data from comparable companies
in the biotech industry. DiamiR evaluated several valuation approaches including an income approach (discounted cash flows or discounted
market multiples), market approach (price/earnings, price/revenue, price/EBITDA) and an asset approach (t