Company: SHPH
Filing Date: 2025-02-13
Form Type: S-1
Source: 0001493152-25-006202
Chunk: 229

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-13
Form: S-1
Chunk 229
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500                                                                                                                                                               
 warrants); the exercise of the warrants issued with the August 2022 Notes (3,750                                                                                                                          
 warrants); the exercise of the warrants issued upon conversion of the Convertible Notes (18,447                                                                                                           
 warrants); and the exercise of the warrants issued during the IPO, including overallotment option (176,222                                                                                                
 warrants), and warrants exercised on a cashless basis (24,660                                                                                                                                             
 warrants).                                                                                                                                                                                                |

The intrinsic value of the warrants as of December 31, 2023 is $ 0. All of the outstanding warrants are exercisable as of December 31, 2023.

Equity Incentive Plan

Our 2018 Equity Incentive Plan (the “2018 Plan”) provides for equity incentives to be granted to our employees, executive officers, directors and key advisers and consultants. Equity incentive grants may be made in the form of stock options with an exercise price of not less than the fair market value of the underlying shares as determined pursuant to the 2018 Equity Incentive Plan, restricted stock awards, other stock-based awards, or any combination of the foregoing. The 2018 Equity Incentive Plan is administered by the Company’s compensation committee. We have reserved 3,000,000shares of our common stock for issuance under the 2018 Equity Incentive Plan. As of December 31, 2023, 84,779shares have been granted under the 2018 Equity Incentive Plan, of which 60,048shares have vested.

Restricted Stock Units

We may grant restricted stock units (“RSU”) under our 2018 Plan. RSUs are bookkeeping entries representing an amount equal to the fair market value of one share of our common stock. Subject to the provisions of our 2018 Plan, the administrator determines the terms and conditions of RSUs, including the vesting criteria and the form and timing of payment. Notwithstanding the foregoing, the administrator, in its sole discretion, may accelerate the time at which any restrictions will lapse or be removed. RSUs granted typically vest annually in one third increments from the date of appointment.

During the years ended December 31, 2023 and 2022, pursuant to agreements with directors, officers and consultants, 32,415and 4,449RSUs with a value of $ 352,400and $ 100,000were granted, respectively. Compensation expense for the vesting RSUs were as follows:

Schedule of Compensation Expense of