Company: MLTX
Filing Date: 2025-05-12
Form Type: 10-Q
Source: 0001821586-25-000011
Chunk: 40

Company: MoonLake Immunotherapeutics
Filing Date: 2025-05-12
Form: 10-Q
Item: Part I, Item 1
Chunk 40
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8 years.Employee Stock Option Plan (ESOP) 2021-2025 - MoonLake AG

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MOONLAKE IMMUNOTHERAPEUTICSNOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS MARCH 31, 2025(Unaudited)

The ESOP grants will vest 25% on each anniversary of the grant date. In the event of a termination of the contractual relationship between the Company and the entitled employee, options can be deemed forfeited by MoonLake AG if certain conditions are met. Awards feature an accelerated vesting condition linked to a “Change of Control”, defined as any transfer of shares that results in the proposed acquirer holding more than 50% of the then issued share capital of MoonLake AG or the Company, as the case may be, where all the outstanding awards (whether currently outstanding or granted in the future) will be deemed fully vested. ESOPNumber of OptionsWeighted-Average Exercise PriceAggregate Intrinsic Value (in thousands)Weighted-Average Remaining Contractual Term (in years)Awards outstanding as of January 1, 202598,3931.505,1806.73Awards exercised for the three months ended March 31, 2025(93,347)1.30Awards forfeited for the three months ended March 31, 2025(5,046)5.25Awards outstanding as of March 31, 2025————Awards exercisable as of March 31, 2025————MoonLake Immunotherapeutics 2022 Equity Incentive PlanOn April 5, 2022 (the “Effective Date”), the Company created the Equity Incentive Plan to promote and closely align the interests of employees, officers, non-employee directors and other service providers of MoonLake Immunotherapeutics and its shareholders by providing share-based compensation and other performance-based compensation.  The Equity Incentive Plan provides for the grant of options, stock appreciation rights, restricted stock units, restricted stock and other share-based awards and for incentive bonuses, which may be paid in cash, Common Shares or a combination thereof, as determined by the compensation committee of the board of directors or such other committee as designated by the board of directors to administer the Equity Incentive Plan. The Equity Incentive Plan shall remain available for the grant of awards until the 10th anniversary of the Effective Date.Equity Incentive Plan (Options)Number of OptionsWeighted-Average Exercise PriceAggregate