Company: BFRG
Filing Date: 2025-03-14
Form Type: 10-K
Source: 0001493152-25-010367
Chunk: 1231

Company: BullFrog AI Holdings, Inc.
Filing Date: 2025-03-14
Form: 10-K
Item: Item 12
Chunk 1231
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 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.

●In
                                            December 2024, the Company modified stock option awards granted the former Chief Financial
                                            Officer by (i) accelerating the vesting of 31,103 unvested options, and (ii) extending the
                                            period to exercise all now-vested 109,500 awards from 6 months to 12 months following his
                                            passing. These modifications resulted in additional stock-based compensation expense of $51,696.

No
options were exercised in any of the periods presented. 

During
the years ended December 31, 2024 and 2023, the Company recognized approximately $940,642 and $592,268, respectively of compensation
expense related to stock options. 

As
of December 31, 2024, the total unrecognized compensation expense related to unvested stock options was approximately $770,862 which
the Company expects to recognize over a weighted-average period of approximately 1.4 years. 

Warrants

The
following table provides details over the Company’s outstanding warrants including those issued as consideration for services and
those issued in conjunction with transactions as of December 31, 2024:

 Schedule
of Outstanding Warrants  

    Exercise Price 
    Expiration 
    Number of Warrants 
  
     $0.0001 
    N/A 
     302,398 
  
     $0.0007 
    2030 
     274,286 
  
     $2.00 - $2.66 
    2026 - 2032 
     2,164,179 
  
     $3.36 - $4.16 
    2028 - 202