Company: APM
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001213900-25-111548
Chunk: 259

Company: Aptorum Group Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 259
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 |     |        |        — |   |     |          |    — |     |           |
| Outstanding May 31, 2025 |     |        |  511,950 |   |     | $        | 4.66 |     |           |
| Exercisable May 31, 2025 |     |        |  263,450 |   |     | $        | 4.96 |     |           |

The weighted average grant-date fair value of stock options granted during the years ended May 31, 2024 and 2023 was $7.00 and $6.18, respectively, based on the following weighted average assumptions:

|                         |     |     |   |     | 2024 |     |   |
| Expected term in years  |     |  10 |   |     |      |  10 |   |
| Expected volatility     |     |  81 | % |     |      |  81 | % |
| Risk-free interest rate |     | 4.1 | % |     |      | 4.1 | % |
| Expected dividend yield |     |   0 | % |     |      |   0 | % |

In October 2023, DiamiR modified the terms of certain of its outstanding stock options representing an aggregate of 140,000 shares. These modifications included a reduction in exercise prices from $7.01 per share to $0.01 per share and the addition of performance and vesting conditions, not currently considered probable of achievement, related to corporate transactions. In the year ended May 31, 2025, stock-based compensation expense amounted to $24,312, which is included in research and development expenses. In the year ended May 31, 2024, stock-based compensation expense amounted to $194,846, of which $182,912 is included in research and development expenses and $11,934 is included in general and administrative expenses. As of May 31, 2025, there is no unrecognized stock-based compensation expense related to options for which vesting is considered probable. As of May 31, 2025, unrecognized stock-based compensation expense related to options for which vesting is not considered probable was $1,093,712. 154 In the year ended May 31, 2023, DiamiR issued 132,000 restricted stock units, vesting upon a change in control or public listing of