Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 285

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 285
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 ended September 30, 2024:

| Options Outstanding               |     | Number of 
 Shares    |       |   |     | Weighted- 
 Average   
 Exercise  
 Price Per 
 Share     |        |     | Weighted-   
 Average     
 Remaining   
 Contractual 
 Term        
 (in         
 years)      |      |     | Aggregate 
 Intrinsic 
 Value     |   |
|:----------------------------------|:----|:----------|------:|:--|:----|:----------|-------:|:----|:------------|-----:|:----|:----------|:--|
| Outstanding at December 31, 2023  |     |           | 6,178 |   |     | $         | 157.89 |     |             | 1.85 |     | $         | — |
| Forfeited                         |     |           |  (167 | ) |     | $         | 157.89 |     |             |      |     |           |   |
| Outstanding at September 30, 2024 |     |           | 6,011 |   |     | $         | 157.89 |     |             | 1.11 |     | $         | — |
| Exercisable at September 30, 2024 |     |           | 6,011 |   |     | $         | 157.89 |     |             | 1.11 |     | $         | — |

ISOs require a recipient to remain in service
to the Company, ISOs generally vest ratably over periods ranging from one to four years from the vesting start date of the grant
and vesting of ISOs ceases upon termination of service to the Company. Vested ISOs are exercisable for three months after the date
of termination of service. The terms and conditions of any ISO shall comply in all respects with Section 422 of the Code, or any
successor provision, and any applicable regulations thereunder. The exercise price of each ISO is the fair market value of the Company’s
stock on the applicable date of grant. The Company used the mean volatility estimate from Carta’s 409A valuation based on the median
5-year volumes of select peer companies. Fair value is estimated based on a combination of shares being sold at $157.89 up through February
of 2019 and the most recent 409A completed when these ISOs were issued in April of