Company: SHPH
Filing Date: 2025-02-28
Form Type: 8-K
Source: 0001493152-25-008742
Chunk: 3

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-28
Form: 8-K
Item: Item 2.03
Chunk 3
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Item
2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

The
disclosure in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

As
described in Item 1.01 above, the Company issued the Revolving Note.

Item
5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.

Appointment
of Directors pursuant to the terms of the Financing:

On
February 28, 2025 (i) each of Milton Brown, Bette Jacobs, Chris Senanayake and Joshua Shafer resigned as directors of the Company, and
(ii) the Company’s Board of Directors appointed George Scorsis, Joseph Tung, and Oleh Nabyt as directors of the Company.

Mr.
George Scorsis

Mr.
Joseph Tung

Mr.
Oleh Nabyt,

Each
of George Scorsis, Joseph Tung and Oleh Nabyt will receive the standard compensation available to the Company’s current non-employee
directors.

There
are no family relationships between George Scorsis, Joseph Tung and Oleh Nabyt and any of the Company’s directors or executive
officers. George Scorsis, Joseph Tung and Oleh Nabyt do not have any direct or indirect material interest in any transaction required
to be disclosed pursuant to Item 404(a) of Regulation S-K. Other than as described in Item 1.01 above, there were no arrangements or
understandings by which George Scorsis, Joseph Tung or Oleh Nabyt were appointed as a member of the Board of Directors.

Following
the appointment of the new directors, Dr. Anatoly Dritschilo will remain as Chairman of the Board of Directors, and Steven Richards,
the Chair of the Audit Committee of the Board of Directors, will continue to serve in such capacity and will also continue his service
as a member of each of the Nomination and Corporate Governance Committee and the Compensation Committee. A determination as to which
of the new independent directors will serve on the Audit Committee, Nomination and Corporate Governance Committee, and Compensation
Committee will be made in the coming days.

Item
9.01. Financial Statements and Exhibits.

(d)
Exhibits.

  Exhibit      Description