Company: APM
Filing Date: 2025-04-30
Form Type: 20-F
Source: 0001213900-25-037669
Chunk: 259

Company: Aptorum Group Ltd
Filing Date: 2025-04-30
Form: 20-F
Item: Item 19
Chunk 259
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 Shares and Class B
Ordinary Shares have the same rights except for the following: (i) each Class A Ordinary Share is entitled toonevote while each Class
B Ordinary Share is entitled totenvotes; and (ii) each Class B Ordinary Share is convertible into one Class A Ordinary Share at any
time while Class A Ordinary Shares are not convertible under any circumstances.

17. SHARE BASED COMPENSATION

Share option plan

On October 13, 2017, the Group adopted the 2017
Share Option Plan (the “ Option Plan”) and on November 5, 2021, the Group amended the Option Plan. A total of550,000Class
A Ordinary Shares (subject to subsequent adjustments described more fully below) may be issued pursuant to awards under the Option Plan.
Subsequent adjustments include that on each January 1, starting with January 1, 2020, an additional number of shares equal to the lesser
of (i)2% of the outstanding number of Class A Ordinary Shares (on a fully diluted basis) on the immediate preceding December 31, and
(ii) such lower number of Class A Ordinary Shares as may be determined by the board of directors, subject in all cases to adjustments
as provided in Section 10 of the Option Plan. Awards will be made pursuant to agreements and may be subject to vesting and other restrictions
as determined by the board of directors.

153,146options were granted on March 8, 2022
to directors, employees, external consultants and advisors of the Group with an exercise price of $13.4per share, which was based on
the average closing price of the shares traded on the NASDAQ stock exchange for the five trading days immediately preceding the grant
date. 74,881options vest on January 1, 2023 and expire onDecember 31, 2033; 74,906options vest on January 1, 2024 and expire
onDecember 31, 2034; 1,866options vest on June 8, 2022 and expire onJune 7, 2033; and1,493options vest on July 14, 2022 and expire
onJuly 13, 2033.

On March 31, 2023, the Group entered into exchange
agreements and cancelled177,667existing vested and unvested share options held by related parties option holders and cancelled the Group’s
obligations for deferred cash bonus