Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 604

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 604
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 share (the “Offering”). The Company sold 3,887,324 shares of its common
    stock in the Offering, resulting in the Company receiving aggregate net proceeds of $64,520,000, after deducting underwriting discounts
    and commissions and other offering expenses of $4,480,000;

    ●
    the Company settled 1,567,913 outstanding PSUs as a result
    of the achievement of the total stockholder returns (“TSR”) targets set forth in equity incentive awards (the “PSU
    Agreements”) previously issued to members of the Company’s management team in 2021 (the “2021 Awards”). The
    2021 Awards were separated into four tranches and required that the Company achieve and maintain certain levels of TSR ranging from 50% to 175% per
    share during the five-year period following the grant date. TSR was based on the aggregate of: (i) the percent increase of the closing
    price of the Company’s common stock from July 22, 2021; and (ii) any dividends or like stockholder distributions as specified
    in the PSU Agreements. In connection with the settlement of the 2021 Awards, an aggregate of 616,984 shares of the Company’s
    common stock was withheld by Harrow for payroll tax obligations totaling $11,273,000;

    F-34

    ●
    the Company issued 168,963 shares of its common stock underlying RSUs
    held by directors that ceased providing services to the Company. The RSUs had previously vested, including 21,620 RSUs during the
    year ended December 31, 2023, but the issuance and delivery of the shares were deferred until the director ceased providing services
    to the Company;

    ●
    the Company issued 65,148 shares of common stock and received proceeds
    of $379,000 upon the exercise of options to purchase 65,148 shares of common stock with exercise prices ranging from $1.70 to $8.50
    per share;

    ●
    the Company issued 62,367 shares of common stock to Mark L. Baum, the
    Company’s Chief Executive Officer, upon the cashless exercise of options to purchase 180,000 shares at an exercise price of
    $8.99 per share. The Company withheld from Mr. Baum 77,167 shares as consideration for the