Company: MIRA
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010301
Chunk: 9

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 8
Chunk 9
---
,666  
    $1.83  
     9.2  
    $- 
  
    Options granted 
     -  
    $-  
     -  
    $- 
  
    Forfeitures 
     (33,332) 
    $2.19  
     -  
    $- 
  
    Outstanding as March 31, 2025 
     4,202,334  
    $1.83  
     9  
    $- 
  
    Exercisable, March 31, 2025 
     2,702,888  
    $2.09  
     8.7  
    $- 

As
of March 31, 2025, options exercisable totaled 2,702,888. There is approximately $0.4 million of unrecognized compensation costs related
to non-vested share-based compensation awards, which will be expensed through 2026.

On
March 26, 2025, the compensation committee of the Company adopted the Company’s Executive Incentive Compensation Plan (the
“EICP”) for Erez Aminov, its Chairman and Chief Executive Officer. Under the EICP, Mr. Aminov will be eligible for
certain long-term awards of up to 500,000
performance-based restricted stock units of the Company’s common stock, par value $0.001
upon the Company achieving specified milestones based upon the Company reaching certain market capitalization values and the
progress of the Company’s drug candidates. All awards under the EICP are subject to the approval of the Board and the
Committee. Furthermore, the Board and the Committee, each in its sole discretion, generally retain the right to amend, supplement,
supersede or cancel any awards under the EICP for any reason, and reserve the right to determine whether and when to pay out any
bonus amounts pursuant to or outside of the EICP, regardless of the achievement of the performance targets. As the awards have not
been granted officially through board approval, there is no grant date under ASC 718, and therefore no measurement date
for the value of such awards and no expense has been
recorded for the awards granted during the three months ended March 31, 2025.

     10 

MIRA PHARMACEUTICALS, INC.

NOTES TO CONDENSED