Company: SYRA
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-022023
Chunk: 64

Company: Syra Health Corp
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 64
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 $1.88 per share for terms of 10 years and 5 years under the 2022 Plan.
These options will vest 25% on each anniversary, and 25% quarterly, until fully vested. The options had no intrinsic value. The aggregate
estimated value using the Black-Scholes Pricing Model, based on an expected terms of 6.25 and 3.54 years, a weighted average volatility
rate ranging from 109% to 126%, a weighted average risk-free interest rate ranging from 3.82% to 4.63%, and a weighted average call option
value ranging from $0.331 to $1.450, was $79,383. The expected term was estimated using the simplified method allowed under SEC Staff
Accounting Bulletin 107 (“SAB 107”). During the nine months ended September 30, 2025 and 2024, the Company recognized expense
of $44,234 and $45,547 related to common stock options. As of September 30, 2025, a total of $108,759 of unamortized expenses are expected
to be expensed over the vesting period.

On
January 7, 2025, the Company granted options to purchase an aggregate 57,646 shares of the Company’s Class A common stock at an
exercise price of $0.7386 per share for terms of 10 years under the 2022 Plan. These options will vest 25% on each anniversary, and 25%
quarterly, until fully vested. The Company recognized expense of $30,959 for these awards and expects to recognize an additional $7,144
through the end of the vesting period.

On
July 1, 2025, the Company entered into a consulting agreement with a former member of the Board of Directors for services related to
developing a new strategic plan for the Company and identifying and hiring a new CEO. The agreement is in effect through September 30,
2025, and the Company awarded 25,000 Class A common stock options of the Company’s Class A common stock to the consultant at an
exercise price of $0.12 per share. The aggregate estimated value using the Black-Scholes Pricing Model, based on an expected term of
6.25 years, a weighted average volatility rate of 124%, a weighted average risk-free interest rate of 3.94%, and a weighted average call
option value of $0.11,