Company: IPST
Filing Date: 2025-05-12
Form Type: 424B3
Source: 0001641172-25-009684
Chunk: 262

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-05-12
Form: 424B3
Chunk 262
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 were issued, leaving 11,064 issued RSUs to settle at a grant value of $157.89 per unit. In May 2024, the Board of Directors approved awarding 234,525 RSUs to employees, directors and consultants with a fair grant value of $4.00 per unit. These RSUs contain a double trigger and, upon grant, were deemed to have met their time-based service requirements for vesting. They will settle on the expiration of the Market Stand-off provision in the 2019 stock incentive plan (or May 24, 2025, which is 180 days from the November 25, 2024 closing of the Company’s initial public offering). For the period ended December 31, 2024, upon the consummation of the initial public offering on November 25, 2024, the Company recorded an expense of $2,684,995 at the fair grant values per RSU for the total 245,589 then vested awards.

| F-36 |

<div align='center'>Heritage Distilling Holding Company, Inc.

Notes to Consolidated Financial Statements</div>

NOTE 9 — STOCKHOLDERS’ EQUITY / (DEFICIT)(cont.)

Equity-Based (Non-Cash) Compensation —The Company recorded equity-based (non-cash) compensation for employees (personnel) and consultants for the years ended December 31, 2024 and 2023 as follows:

SCHEDULE OF EQUITY-BASED (NON-CASH) COMPENSATION FOR EMPLOYEES (PERSONNEL) AND CONSULTANTS

|                                                |     | Years Ended December 31, 
 2024                     |      2024 |     | 2023 |   2023 |
|:-----------------------------------------------|:----|:-------------------------|----------:|:----|:-----|-------:|
| Production / Cost of Sales                     |     | $                        |   178,140 |     | $    |      — |
| Sales and Marketing                            |     |                          |   729,592 |     |      |      — |
| General and Administrative                     |     |                          | 2,414,097 |     |      |  6,028 |
| Subtotal Employee Compensation                 |     |                          | 3,321,829 |     |      |  6,028 |
| Professional Fees (General and Administrative) |     |                          | 1,570,281 |