Company: APM
Filing Date: 2025-10-06
Form Type: S-4
Source: 0001213900-25-096656
Chunk: 482

Company: Aptorum Group Ltd
Filing Date: 2025-10-06
Form: S-4
Chunk 482
---
 unvested share options held by related parties option holders and cancelled the Group’s obligations for deferred cash bonus payables of $ million by granting of share options (“New Options”) with months vesting period. The New Options’ exercise price was $ per share, which was based on the last closing price of the shares traded on the NASDAQ stock exchange on the grant date. All options fully vested on October 1, 2023 and expires on . On March 31, 2023, the Group entered into supplemental agreements with the same related parties option holders to provide additional cash compensation to cover the exercise price of the New Options. On March 31, 2023, the Group entered into exchange agreements and cancelled existing vested and unvested share options held by non-related parties option holders and cancelled the Group’s obligations for deferred cash bonus payables of $ million by issuance of fully vested Class A Ordinary Shares. The Group accounted for this exchange for both related parties and non-related parties share option holders as a modification to share based compensation which required the remeasurement of existing share options value at the time of the modification. The total incremental cost as a result of the modification was $ million.

A summary of the option activity for the years ended December 31, 2024, 2023 and 2022 and changes during the period is presented below:

|                                |     | Number of 
     share 
   options |   |     | Weighted 
  average 
 exercise 
    price 
        $ |     |     Remaining 
   contractual 
 term in years |     | Aggregate 
 Intrinsic 
     value |
| Outstanding, January 1, 2024   |     |   427,060 |   |     |     3.59 |     |          9.28 |     |           |
| Exercised                      |     |  (427,060 | ) |     |     1.49 |     |               |     | 1,436,963 |
| Outstanding, December 31, 2024 |     |         — |   |     |        — |     |             — |     |         — |
| Exercisable, December 31, 2024 |     |         — |   |     |        — |     |             — |     |         — |

F-30

APTORUM GROUP LIMITED
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Stated in U.S. Dollars) 17. SHARE BASE