Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 26

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 1
Chunk 26
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 as of December 31, 2025, with 50% of such award in the form of restricted stock units and 50% in common stock options.
The Company determined a grant date had not been reached until the terms of the award are finalized at December 31, 2025.

Class
A Common Stock Warrants

The
following is a summary of activity of outstanding stock warrants:

 Schedule of Activity of Outstanding Stock Warrants

    Weighted Average 

    Number of Shares  
    Exercise Prices 
  
    Balance, December 31, 2024 
     8,195,967  
    $1.78 
  
    Warrants granted 
     -  
     - 
  
    Warrants exercised 
     (23,125) 
     0.64 
  
    Warrants cancelled 
     -  
     - 
  
    Balance, September 30, 2025 
     8,172,842  
    $1.79 
  
    Exercisable, September 30, 2025 
     8,172,842  
    $1.79 

    F-15

The
warrants had a weighted average remaining life of 2.41 years and no intrinsic value as of September 30, 2025.

Convertible
Class B Common Stock

The
Company has 5,000,000 authorized shares of $0.001 par value convertible Class B common stock and had 600,000 shares issued and outstanding
as of September 30, 2025, as retrospectively applied, pursuant to the Company’s subsequent recapitalization in 2022 and effective
as of May 3, 2022, whereby the founders exchanged their 83,334 Founders Shares for 833,334 shares of convertible Class B common stock.

On
January 15, 2025, a total of 233,334 shares of Class B Common Stock previously held by the Company’s Executive Chairman and President,
Sandeep Allam, automatically converted into 2,333,340 shares of Class A common stock according to the terms of the Company’s Certificate
of Incorporation.

Note
12 – Common Stock Options

Omnibus
Equity Incentive Plan

On
April 11, 2022, the Company’s board of directors adopted, and the Company’s stockholders approved, the Syra Health Corp.
2022 Omnibus Equity Incentive