Company: IPST
Filing Date: 2025-02-04
Form Type: 424B3
Source: 0001213900-25-010139
Chunk: 349

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-02-04
Form: 424B3
Chunk 349
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, the Company had 3,693,632 shares of common stock issued and outstanding. During the year ended December 31, 2023, the
Company repurchased 126 shares of common stock and no common stock warrants were exercised.

<div align='center'>F-67

Heritage Distilling Holding Company, Inc.
Notes to Consolidated Financial Statements</div>

NOTE 9 — STOCKHOLDERS’ EQUITY (cont.)

Stock options— The Company’s
2018 Equity Incentive Plan was approved by the HDC Board and the HDC shareholders in March 2018. On April 27, 2019, in anticipation
of the Company’s reorganization on May 1, 2019, the HDHC Board and the HDHC sole stockholder approved HDHC’s 2019 Equity
Incentive Plan (the “2019 Plan”).

The 2019 Plan allows for the grant of incentive
stock options (“ISOs”), nonqualified stock options (“NQSOs”), stock appreciation rights (“SARs”),
restricted stock, RSU awards, performance shares, and performance units to eligible participants for ten (10) years (until April 2029).
The cost of awards under the 2019 Plan generally is based on the fair value of the award on its grant date. The maximum number of shares
that may be utilized for awards under the 2019 Plan is 450,000.

The following sets forth the outstanding ISOs and
related activity for the years ended December 31, 2023 and 2022:

| Options Outstanding                     |     | Number of 
 Shares    |        |   |     | Weighted-      
 Average        
 Exercise Price 
 Per Share      |        |     | Weighted-   
 Average     
 Remaining   
 Contractual 
 Term        
 (in years)  |      |     | Aggregate       
 Intrinsic Value |   |
|:----------------------------------------|:----|:----------|-------:|:--|:----|:---------------|-------:|:----|:------------|-----:|:----|:----------------|:--|
| Outstanding at December 31, 2021        |     |           |  8,470 |   |     | $              | 157.89 |     |             | 3.82 |     | $               | — |
| Forfeited                               |     |           |   (333 | ) |     | $              | 157.89 |     |