Company: INDP
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001493152-25-010136
Chunk: 150

Company: Indaptus Therapeutics, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 1
Chunk 150
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 executive officers during the fiscal years ended
December 31, 2024 and 2023, as computed in accordance with Financial Accounting Standard Board Accounting Standards Codification Topic
718 for stock-based compensation transaction. As required by SEC rules, the amounts shown exclude the impact of estimated forfeitures
related to service-based vesting conditions. Assumptions used in the calculation of these amounts are included in Note 5 to our consolidated
financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024, which was filed with the SEC on
March 13, 2025. Our named executive officers will only realize compensation with regard to these options to the extent the trading price
of our common stock is greater than the exercise price of such options.

(2)
For 2024 and 2023, referenced amount is for the Company paid portion of medical and life insurance premiums, and Company 401(k) contributions.

(3)
Amount represents a sign on bonus paid to Dr. Waltzman in 2023.

Narrative
Description to Summary Compensation Table

Base
Salaries

In
general, base salaries for our named executive officers are initially established through arm’s length negotiation at the time
the executive is hired, taking into account such executive’s qualifications, experience and prior salary. Base salaries of our
named executive officers are approved and reviewed annually by our Compensation Committee or Board of Directors and adjustments to base
salaries are based on the scope of an executive’s responsibilities, individual contribution, prior experience and sustained performance.
Decisions regarding salary increases may take into account an executive officer’s current salary, equity ownership, and the amounts
paid to an executive officer’s peers inside our company by conducting an internal analysis, which compares the pay of an executive
officer to other members of the management team. Base salaries are also reviewed in the case of promotions or other significant changes
in responsibility. Base salaries are not automatically increased if the Board of Directors and Compensation Committee believe that other
elements of the named executive officer’s compensation are more appropriate in light of our stated objectives. This strategy is
consistent with our intent of offering compensation that is both cost-effective, competitive and contingent on the achievement of performance
objectives.

The
actual base salaries paid to all of our named executive officers for 2024 are set forth in the “Summary Compensation Table”
above.

In
January 2024, our Compensation Committee approved base salary increases for 2024 for Mr. Meckler