Company: BFRG
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023496
Chunk: 19

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 1
Chunk 19
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 warrants and 849,427
options for shares of common stock were excluded from the calculation of net loss per share. For
each of the three- and nine-month periods ended September 30, 2025 and September 30, 2024, 274,286 pre-funded warrants issued
in 2020 as consideration for services were included in the calculation of net loss per common share.

2022
Equity Incentive Plan

In
November 2022, the Company’s Board of Directors adopted, and its shareholders approved, the 2022 Equity Incentive Plan (the “Plan”).
The Plan provides for the granting of equity-based awards to employees, directors, and consultants. The Plan provides for equity-based
awards including incentive stock options, non-qualified stock options, stock appreciation rights, performance share awards, cash awards
and other equity-based awards. Awards are limited to a maximum term of 10 years and any exercise prices shall not be less than 100% of
the fair market value of one share of common stock on the grant date. The Plan authorized an initial maximum number of shares underlying
awards of 900,000 with an automatic annual increase to an amount equal to 15% of the total number of shares outstanding as of the end
of the preceding fiscal year. As of September 30, 2025, there are 14,348 awards authorized but unissued available under the Plan. In
October 2025, the Company’s stockholders approved an amendment to the Plan to increase the number of shares available for issuance
under the Plan by 750,000. 

Stock
Options 

The
following tables summarize the stock option activity for the nine months ended September 30, 2025 and 2024:

 Schedule of Stock Options Activity   

    Number of 
Shares  
    Weighted-
Average 
Exercise Price  
    Weighted-
Average 
Remaining Contractual 
Term (Years)  
    Aggregate 
Instrinsic Value 
  
    Oustanding at December 31, 2024 
     832,731  
    $3.96  
     8.5  
    $   - 
  
    Granted 
     256,500  
    $2.12  

    Exercised 
     -  
    $-  

    Forfeited / canceled 
     (222,819) 
    $3.71  

    Outstanding at September