Company: JUNS
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001261
Chunk: 1757

Company: JUPITER NEUROSCIENCES, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 7A
Chunk 1757
---
, Strategic Service Agreements to accelerate business activities in South-East Asia, research and development
activities regarding evaluation of new product opportunities, payment of the outstanding annual license fees due to Aquanova AG, the
repayment of debt, working capital and other general corporate purposes.

Stock
Options

The
Company grants stock awards to officers, employees, directors, and other key persons pursuant to its 2021 Equity Incentive Plan (“the
Plan”).

During
the year ended December 31, 2024 and 2023, the Company recognized stock-based compensation of $947,124
and $1,198,579,
respectively, related to vested stock options. There was $355,829
unvested stock options expense as of December 31, 2024.

On
January 1, 2023, the Company granted a non-qualified stock option to purchase 562,500 shares of Common Stock to our Chief Financial Officer,
at an exercise price of $1.33 per share. The option had a grant date fair value of $589,500.

On
April 1, 2023, the Company granted non-qualified stock option to purchase an aggregate of 562,500 shares of Common Stock to an employee
and consultants, at an exercise price of $1.33 per share. The options had an aggregate grant date fair value of $577,500.

On
January 24, 2024, the Company granted 180,000 stock options to a consultant with an exercise price of $1.33 per share. The option had
a grant date fair value of $190,560.

On
April 17, 2024, the Company granted 67,500 stock options to a consultant with an exercise price of $1.33 per share. The option had a
grant date fair value of $73,459.

See
Note 3 – Related Party Transactions above for details related to options issued for forgiveness of accrued salaries.

    F-19

JUPITER
NEUROSCIENCES, INC.

NOTES
TO FINANCIAL STATEMENTS

December
31, 2024 and 2023

A
summary of activity for the year ended December 31, 2024 and 2023 is presented below:

Schedule of Stock Option
Activity

    Number of Options  
    Weighted Average Exercise Price  
    Weighted Average Contractual Term (Years)  
    Aggregate Intrinsic Value 
  
    Outstanding