Company: SHPH
Filing Date: 2025-03-31
Form Type: DEF 14A
Source: 0001641172-25-001889
Chunk: 36

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-03-31
Form: DEF 14A
Chunk 36
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 the 2018 Plan by 5,000,000 additional shares. If our
stockholders approve the First Amendment, it will become effective on the date of our annual meeting, at the time we confirm such
stockholder approval. If our stockholders do not approve the First Amendment, we will only grant awards under the 2018 Plan until
the shares available for issuance thereunder are exhausted. The Board of Directors believes that, if the First Amendment is not
approved, the current share reserve under the 2018 Plan would be insufficient to align the interests of key individuals with our
stockholders through equity-based compensation. Accordingly, such a shortage could compromise and disrupt our compensation program
as well as impair our ability to obtain, reward and retain key personnel, or require us to shift our compensation plan to include
more cash compensation.

On the Record Date, the closing price of our
common stock was $0.428 per share.

Vote Required

A majority of the shares present in person or by proxy and entitled to vote at our 2025 Annual Meeting is required to approve Proposal No. 5.

THE BOARD OF DIRECTORS RECOMMENDS THAT STOCKHOLDERS VOTE “FOR” THE APPROVAL OF THE FIRST AMENDMENT TO THE 2018 PLAN TO INCREASE THE AMOUNT OF SHARES RESERVED FOR ISSUANCE

Description of the First Amendment

The sole aspect of the 2018 Plan to be amended
by the proposed First Amendment is to increase the number of shares reserved for issuance under the 2018 Plan by 5,000,000 shares. No
other provisions of the 2018 Plan are modified, amended, revised, or otherwise changed by the First Amendment. The specific terms of
the 2018 Plan, such as who is eligible to receive awards under the 2018 Plan, the terms of awards, vesting periods, the exercise price
of any options, and any expiration of these awards, as well as the tax consequences of the awards which may be made under the 2018 Plan,
are set forth in the 2018 Plan, as approved by the Company’s stockholders.

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This summary does not purport to be a complete
description of all the terms of the First Amendment and is qualified in its entirety by reference to the complete text of the First Amendment,
which is attached to this Proxy Statement as Appendix B.

Description of the Material Terms of the 2018 Plan

A description of the provisions of the 2018