Company: IPST
Filing Date: 2025-12-12
Form Type: S-1/A
Source: 0001213900-25-121277
Chunk: 425

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-12
Form: S-1/A
Chunk 425
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| Unvested and Outstanding at December 31, 2023 |     |     116,944 |   |     | $              | 3,157.80 |
| Granted                                       |     |      11,726 |   |     | $              |     4.00 |
| Forfeited/Canceled/Expired                    |     |    (105,880 | ) |     | $              | 3,157.80 |
| Vested and Outstanding at December 31, 2024   |     |      12,279 |   |     | $              |    10.93 |

F-92

Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements NOTE 9 — STOCKHOLDERS’ EQUITY/(DEFICIT) (cont.)

During the year ended December 31, 2024, the Company recognized $ stock-based compensation expense (including $ accrued but not yet awarded) in connection with RSU awards granted under the plans. Compensation expense for RSU awards is recognized upon meeting both the time-vesting condition and the triggering event condition. During the year ended December 31, 2024, restricted stock units (“RSUs”) were forfeited. In May 2024, RSUs were voluntarily terminated, and were issued, leaving issued RSUs to settle at a grant value of $ per unit. In May 2024, the Board of Directors approved awarding RSUs to employees, directors and consultants with a fair grant value of $ per unit. These RSUs contain a double trigger and, upon grant, were deemed to have met their time-based service requirements for vesting. They will settle on the expiration of the Market Stand-off provision in the 2019 stock incentive plan (or May 24, 2025, which is from the November 25, 2024 closing of the Company’s initial public offering). For the period ended December 31, 2024, upon the consummation of the initial public offering on November 25, 2024, the Company recorded an expense of $ at the fair grant values per RSU for the total then vested awards.

Equity-Based(Non-Cash) Compensation —

|                                                |     | Years Ended  
 December 31, |      2024 |     |   |   2023 |
|:-----------------------------------------------|:----|:-------------|----------:|:----|:--|-------:|
| Production/Cost of Sales