Company: TELO
Filing Date: 2025-05-14
Form Type: 10-Q
Source: 0001641172-25-010298
Chunk: 74

Company: Telomir Pharmaceuticals, Inc.
Filing Date: 2025-05-14
Form: 10-Q
Item: Item 1
Chunk 74
---
)
  
    Segment
    net loss 
    $(2,179,828) 
    $(6,254,607)

Note
8. Subsequent Events

ATM
Offering 

From
April 1, 2025  through May 13, 2025, under the ATM Agreement, the Company sold and issued 18,300
shares of Common Stock at a weighted average price per share
of $2.67,
and received net proceeds of approximately $47,769,
after deducting commissions and other fees in the amount of approximately $1,000.

Executive
Incentive Compensation Program

On
May 14, 2025, the compensation committee (the “Committee”) of Telomir Pharmaceuticals, Inc. (the “Company”) adopted
the Company’s Executive Incentive Compensation Plan (the “EICP”) for Erez Aminov, its Chairman and Chief Executive
Officer. The EICP was approved by the Committee following greater presentation of the EICP to the board of directors of the Company (the
“Board”). The specific terms of the EICP were prepared by the Board’s independent compensation consultant.

Under
the EICP, Mr. Aminov is eligible to receive an annual target bonus of $300,000, with a threshold value of $150,000 and a maximum bonus
of up to $600,000 (the “Annual Target Bonus”). The Annual Target Bonus is equally weighted (though as adjusted as appropriate)
based on the following three components: (i) achievement of clinical milestones for the Company’s drug candidates, (ii) entering
into certain strategic partnerships, and (iii) achieving capital raise milestones. Each component under the 2025 Program may be achieved
and a corresponding payout made independent of the other components, but only after such component meets the minimum threshold of $50,000
 before any bonus payments will be made.

Under
the EICP, Mr. Aminov will be eligible until 2032 for certain long-term incentives based upon the
Company reaching certain market capitalization values, raising capital, and the progress of the Company’s drug candidates. Any
awards or grants received by Mr. Aminov under the EICP is subject to prior board approval. 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

Mr.
Aminov