Company: PTPI
Filing Date: 2025-03-07
Form Type: PRE 14A
Source: 0001104659-25-021794
Chunk: 47

Company: Petros Pharmaceuticals, Inc.
Filing Date: 2025-03-07
Form: PRE 14A
Chunk 47
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 no effect on the results for the Reverse Stock Split
Proposal.

<div align='center'>THE BOARD OF DIRECTORS RECOMMENDS THAT YOU VOTE “FOR” THE APPROVAL OF THE
REVERSE STOCK SPLIT PROPOSAL AND PROXIES SOLICITED BY THE BOARD WILL BE VOTED IN
FAVOR THEREOF UNLESS A STOCKHOLDER HAS INDICATED OTHERWISE ON THE PROXY.

30

PROPOSAL NO. 3 – PLAN AMENDMENT PROPOSAL</div>

Our Board is requesting that our stockholders approve the adoption of the Third Amendment to the Amended and Restated Petros Pharmaceuticals, Inc. 2020 Omnibus Incentive Compensation Plan (the “Third Amendment”), which was approved by the Board on March 7, 2025, effective upon stockholder approval at the Special Meeting. The Petros Pharmaceuticals, Inc. 2020 Omnibus Incentive Compensation Plan (the “Initial 2020 Plan”) was initially approved by our stockholders on November 25, 2020 (the “Effective Date”),and amended by the First Amendment on November 17, 2021, the Second Amendment on December 22, 2021, and
the Amended and Restated Petros Pharmaceuticals, Inc. 2020 Omnibus Incentive Compensation Plan on
December 21, 2022. Following the amendment and restatement of the Initial 2020 Plan, the 2020 Plan was thereafter amended by the
First Amendment on September 15, 2023 (the “First Amendment”) and the Second Amendment on February 10, 2025 (the
“Second Amendment”). The purpose of the Third Amendment is to increase the number of shares of Common Stock available for
issuance pursuant to awards under the 2020 Plan by an additional 1,000,000,000 shares of Common Stock. If the Third Amendment is approved,
the number of shares authorized for issuance of awards under the Third Amendment to the 2020 Plan will be increased to an aggregate maximum
of 1,002,760,000 shares of Common Stock.

The 2020 Plan is a successor
to the Neurotrope, Inc. 2017 Equity Incentive Plan and the Neurotrope, Inc. 2013 Equity Incentive Plan, amended as of July 23,
2014 and as further amended as of November 21, 2016 (collectively, the “Prior Plans”). No further