Company: HROW
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001641172-25-022980
Chunk: 38

Company: HARROW, INC.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 38
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     66,000  
    $32.93  

    Options exercised 
     (10,618) 
    $11.78  

    Options cancelled/forfeited 
     (50,111) 
    $14.90  

    Options outstanding – June 30, 2025 
     2,474,370  
    $7.00  
     2.70  
    $58,679,000 
  
    Options exercisable 
     2,259,079  
    $5.59  
     2.13  
    $56,371,000 
  
    Options vested and expected to vest 
     2,446,063  
    $6.80  
     2.63  
    $58,448,000 

The
aggregate intrinsic value in the table above represents the total pre-tax amount of the proceeds, net of exercise price, which would
have been received by option holders if all option holders had exercised and immediately sold all shares underlying options with an exercise
price lower than the market price on June 30, 2025, based on the closing price of the Company’s common stock of $30.54 on that
date.

During
the six months ended June 30, 2025, the Company granted stock options to certain employees. The stock options were granted with an exercise
price equal to the current market price of the Company’s common stock, as reported by the securities exchange on which the common
stock was then listed, at the grant date and have contractual terms of ten years. Vesting terms for options granted to employees during
the three and six months ended June 30, 2025 included the following vesting schedule: 25% of the shares subject to the option vest and
become exercisable on the first anniversary of the grant date and the remaining 75% of the shares subject to the option vest and become
exercisable quarterly in equal installments thereafter over three years. Certain option awards provide for accelerated vesting if there
is a change in control (as defined in the Plans) and in the event of certain modifications to the option award agreement.

The
fair value of each option award is estimated on the date of grant using the Black-Scholes-Merton option pricing model. The expected term
of options granted to employees and directors was determined in accordance with the “simplified approach,” as the Company