Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 1195

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 1195
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     2022  
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    (1)
    We periodically review, and may increase, base salaries in accordance
    with our normal annual compensation review for each of our named executive officers.

Equity Awards

On July 12, 2023, Dr. Dow was granted a five-year
option to purchase a total of 250 shares of our common stock on the last day of each quarter in each calendar year (for a cumulative
total or no more than 5,000 shares over five years) and (ii) Mr. Miller was granted a five-year option to purchase a total of 200 shares
of our common stock on the last day of each quarter in each calendar year (for a cumulative total or no more than 4,000 shares over five
years). The per share exercise price of the options were initially equal to the per share closing price of our common stock on the date
of grant and had a cashless exercise provision. In November 2023, the Board reset the exercise price of the options to be equal to $60.00
and modified the vesting provisions of the option to vest annually over five years, rather than quarterly, with the first vesting date
being December 31, 2024. The initial grant and subsequent amendment of these options was contingent upon the stockholders of the
Company approving the amendment to the exercise price of the options and approving the amendment to the 2022 Plan to increase the number
of shares available under the 2022 Plan in order to comply with Listing Rule 5635(c) of The Nasdaq Stock Market LLC. On July 16, 2024,
the Company’s stockholders approved the proposal to increase the number of shares available under the 2022 Plan. As of that date,
Dr. Dow and Mr. Miller’s option grants, as subsequently amended, were considered effective.

In February 2024, subject to and contingent upon
the stockholders of the Company approving the amendment to the 2022 Plan to increase the number of shares available under the 2022 Plan,
we granted Ms. Landon a five-year option to purchase a total of 4,167 shares of our common stock with a per share exercise price to be
determined by