Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 178

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 6
Chunk 178
---
.6 per share, which was based on the average closing price
of the shares traded on the NASDAQ stock exchange for the five trading days immediately preceding the grant date.36,796 options
vest on January 1, 2022, and expire on December 31, 2032; 36,808 options vest on January 1, 2023 and expire on December 31, 2033; 906
options vest on June 8, 2021 and expire on June 7, 2032; and 725 options vest on July 14, 2021 and expire on July 13, 2032.

153,146 options were granted on March 8, 2022, to directors, employees,
external consultants and advisors of the Group with an exercise price of $13.4 per share, which was based on the average closing price
of the shares traded on the NASDAQ stock exchange for the five trading days immediately preceding the grant date.74,881 options
vest on January 1, 2023, and expire on December 31, 2033; 74,906 options vest on January 1, 2024, and expire on December 31, 2034; 1,866
options vest on June 8, 2022, and expire on June 7, 2033; and 1,493 options vest on July 14, 2022, and expire on July 13, 2033.

On March 31, 2023, we entered into exchange agreements and cancelled
177,667 existing vested and unvested share options held by related parties option holders and cancelled our obligations for deferred cash
bonus payables of $3.1 million by granting of 403,820 share options (“ New Options”) with 6 months vesting period. The New
Options’ exercise price was $2.68 per share, which was based on the last closing price of the shares traded on the NASDAQ stock
exchange on the grant date. All options fully vested on October 1, 2023, and expires on September 30, 2033. On March 31, 2023, we entered
into supplemental agreements with the same related parties option holders to provide additional cash compensation to cover the exercise
price of the New Options. On March 31, 2023, we entered into exchange agreements and cancelled 70,428 existing vested and unvested share
options held