Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 863

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 4
Chunk 863
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 discretion, may accelerate the time at which any restrictions will lapse or be removed. RSUs granted typically
vest annually in one third increments from the date of appointment.

During
the years ended December 31, 2024 and 2023, pursuant to agreements with directors, officers and consultants, 1,102,410
and 32,415
RSUs with a value of
$0.9
million and $0.4
million were granted,
respectively. Compensation expense for the vesting RSUs were as follows:

Schedule
of Compensation Expenses (RSUs)

    2024  
    2023 

    Year ended December 31, 

    2024  
    2023 
  
    Recognized in general and administrative expense 
    $183,971  
    $115,000 
  
    Recognized in research and development expense 
     75,773  
     66,960 
  
    Total 
    $259,744  
    $181,960 

As
of December 31, 2024, there was $0.9 million of unrecognized RSU compensation cost related to non-vested stock-based compensation arrangements
which is expected to be recognized over a weighted-average period of 2.85 years.

A
summary of activity regarding the Restricted Stock Units issued follows:

 Schedule of Restricted Stock Units (RSUs)

    Number of RSU  
    Weighted Average
                                                                                Fair Value Per RSU 
  
    Outstanding, December 31, 2023 
     24,731  
    $11.76 
  
    Granted 
     1,102,410  
     0.81 
  
    Forfeited 
     (12,500) 
     — 
  
    Vested 
     (29,997) 
     9.14 
  
    Outstanding, December 31, 2024 
    $1,084,644  
    $0.84 

    F-23

Rights
Offering and Financing Commitment

On
February 7, 2024, the Company and its wholly-owned subsidiary, Shuttle Diagnostics, Inc., entered into a securities purchase agreement
(the “Purchase Agreement”) with SRO, LLC, a Nevada limited liability company, pursuant to which SRO LLC agreed to commit
to purchasing from the Company $2,250,000 of units from the Company, with each Unit