Company: LNAI
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001731122-25-001316
Chunk: 326

Company: Lunai Bioworks Inc.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 2
Chunk 326
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     109.45% – 118.99%
  
    Risk free interest rate 
     3.86%- 4.40%
  
    Dividend yield 
     0%

    F-24

The Company recognized stock-based
compensation expense related to all equity instruments of $3,313,291 and $4,673,129 for the years ended June 30, 2025 and 2024, respectively.
At June 30, 2025, the Company had approximately $1,009,277 of unrecognized compensation cost related to non-vested options.

Plan Options

On February 6, 2014, the Company’s
Board of Directors adopted the Company’s 2014 Equity Incentive Plan (the “2014 Plan”), and the Company had reserved
1,206,000 shares of Common Stock for issuance in accordance with the terms of the 2014 Plan.

On October 30, 2019, the Board
approved and on October 31, 2019, the Company’s stockholders adopted its 2019 Equity Incentive Plan (the “2019 Plan”),
which replaced the 2014 Plan. The 2019 Plan provided that the maximum aggregate number of shares of the Company’s Common Stock reserved
and available for issuance under the 2019 Plan was the sum of (1) 6,000,000 new shares, and (2) the number of shares available for the
grant of awards as of the effective date under the 2014 Plan plus any options related to awards that expire, are terminated, surrendered,
or forfeited for any reason without issuance of shares under the 2014 Plan after the effective date of the 2019 Plan.

Effective July 21, 2023, the Company
adopted the Renovaro Biosciences Inc. 2023 Equity Incentive Plan (the “2023 Plan”). The 2023 Plan replaced the 2019 Plan.
The 2023 Plan provides that the maximum aggregate number of shares of the Company’s Common Stock reserved and available for issuance
under the 2023 Plan was the sum of (1) 4,000,000 new shares, and (2) the number of shares available for the grant of awards as of the
effective date under the 2019 Plan. Any awards outstanding under the 2019 Plan as of the date of adoption of the 2023 Plan remain subject
to and will be available under