Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 537

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 2
Chunk 537
---
500,000  
     —  
     —  
     182,156  
     200,000  
     46,723  
     928,879 
  
    Chief Medical Officer 
    2023 
     196,742  
     20,000(3) 
     —  
     140,811  
     196,000  
     32,612  
     586,165 

(1)
The amounts reported do not reflect the amounts actually received by our named executive officers. Instead, in accordance with SEC rules,
these amounts reflect the grant date fair value of stock options granted to our named executive officers during the fiscal years ended
December 31, 2024 and 2023, as computed in accordance with Financial Accounting Standard Board Accounting Standards Codification Topic
718 for stock-based compensation transaction. As required by SEC rules, the amounts shown exclude the impact of estimated forfeitures
related to service-based vesting conditions. Assumptions used in the calculation of these amounts are included in Note 5 to our consolidated
financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on
March 13, 2025. Our named executive officers will only realize compensation with regard to these options to the extent the trading price
of our common stock is greater than the exercise price of such options.

(2)
For 2024 and 2023, referenced amount is for the Company paid portion of medical and life insurance premiums, and Company 401(k) contributions.

(3)
Amount represents a sign on bonus paid to Dr. Waltzman in 2023.

Narrative
Description to Summary Compensation Table

Base
Salaries

In
general, base salaries for our named executive officers are initially established through arm’s length negotiation at the time
the executive is hired, taking into account such executive’s qualifications, experience and prior salary. Base salaries of our
named executive officers are approved and reviewed annually by our Compensation Committee or Board of Directors and adjustments to base
salaries are based on the scope of an executive’s responsibilities, individual contribution, prior experience and sustained performance.
Decisions regarding salary increases may take into account an executive officer’s current salary, equity ownership, and the amounts
paid to an executive officer’s peers inside our company by conducting an internal analysis, which compares the pay of an executive
officer