Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 47

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 8
Chunk 47
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5  
    $- 
  
    Vested at December 31, 2024 
     522,191  
    $4.04  
     8.1  
    $- 

The
fair value of options granted and modified in the year ended December 31, 2024 was estimated using the Black-Scholes option pricing model
based on the assumptions in the table below:

 Schedule of Black Scholes Option Pricing Model  

    2024  
    2023 
  
    Expected dividend yield 
     0%  
     0% 
  
    Expected volatility 
      85%
                                            - 107%  
      87%
                                            - 92% 
  
    Risk-free interest rate 
      3.5%
                                            - 5.3%  
      3.4%
                                            - 4.4% 
  
    Expected life (in years) 
      0.5
                                            - 6.0  
      5.0
                                            - 6.0 

●Volatility
                                            - The trading volatility was determined by calculating the volatility of the Company’s
                                            peer group.

●Expected
                                            life of options – The expected life of options granted to employees was determined
                                            using the simplified method.

●Risk-free
                                            interest rate – This is the U.S. Treasury rate, having a term comparable to the
                                            expected life of the stock option.

●Dividend
                                            yield – The Company does not expect to pay a dividend in the foreseeable future.

The
weighted-average grant-date fair value of options granted during the years ended December 31, 2024 and 2023 was $2.78 and $3.15, respectively.
The total grant-date fair value of options vested during the years ended December 31, 2024 and 2023 was approximately $819,077 and $585,500,
respectively.

     F-13 

During
the year ended December 31, 2024, certain stock option awards granted to related parties were modified as follows:

●In
                                            July 2024, the Company modified 131,927 vested stock option awards granted to the former
                                            Chief Marketing Officer by extending his period to exercise these awards from 6 months to
                                            12 months following termination. This modification resulted in additional stock-based compensation
                                            expense of $28,666.

●