Company: DARE
Filing Date: 2025-04-24
Form Type: ARS
Source: 0001401914-25-000018
Chunk: 306

Company: Dare Bioscience, Inc.
Filing Date: 2025-04-24
Form: ARS
Chunk 306
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 or are otherwise forfeited on or after June 23, 2022. Options granted are exercisable at various dates as determined upon grant and will expire no more than ten years from their date of grant. Stock options generally vest over a four-year term. The exercise price of each option is determined by the Company's board of directors or its compensation committee based on the estimated fair value of the Company's stock on the date of grant. Summary of Stock Option Activity The table below summarizes stock option activity under the Company's stock incentive plans and related information for the years ended December 31, 2024 and 2023. The exercise price of all options granted during the years ended December 31, 2024 and 2023 was equal to the market value of the Company’s common stock on the date of grant. As of December 31, 2024, unamortized stock-based compensation expense of approximately $2.2 million will be amortized over the weighted average period of 1.1 years. The number of shares of common stock available for future awards granted under the 2022 Plan as of December 31, 2024 was 465,751. F-27

Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life (Years) Aggregate Intrinsic Value * Outstanding at December 31, 2022 551,003 $ 19.18 Granted 238,120 13.62 Exercised — — Cancelled/forfeited (525) 14.07 Expired (29) 13.92 Outstanding at December 31, 2023 788,569 17.50 Granted 228,060 5.45 Exercised — — Canceled/forfeited (79,148) 12.90 Expired (54,147) 21.16 Outstanding at December 31, 2024 883,334 $ 14.58 6.73 $ — Options exercisable at December 31, 2024 593,118 $ 16.96 5.81 $ — Options vested and expected to vest at December 31, 2024 593,118 $ 16.96 5.81 $ — *The aggregate intrinsic value is the sum of the amounts by which the quoted market price of the Company's common stock exceeded the exercise price of the stock options at December 31, 2024 for those stock options for which the quoted market price was in excess of