Company: SXTPW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001013762-25-003343
Chunk: 1170

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 1170
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,392.

Stock Grants

On July 11, 2023, the Company recognized $187,200
of share-based compensation expense upon the one-time issuance of 668 shares of common stock to the Company’s Board of Directors,
by virtue of the terms of the agreements described in Note 11, which is reflected in general and administrative expenses in the consolidated
statement of operations and comprehensive loss.

Stock Options

The Company grants stock options to employees,
non-employees, and Directors with exercise prices equal to the closing price of the underlying shares of the Company’s common stock
on the Nasdaq Capital Market on the date that the options are granted. Options granted generally have a term of five to ten years from
the grant date and are subject to vesting as determined in the individual award agreement. The Company estimates the fair value of stock
options on the grant date by applying the Black-Scholes option pricing valuation model. 

The following table summarizes the significant
assumptions used in determining the fair value of options granted or modified during the years ended December 31, 2024 and 2023:

     2024   2023   Weighted-average grant date fair value  $8.78   $189.60   Risk-free interest rate   3.62%-4.17%   4.33%  Expected volatility   86.00%-87.00%   110.00%  Expected term (years)   6.41-10.00    3.18   Expected dividend yield   0.00%   0.00% 

F-31

The following table summarizes the Company’s
stock option activities during the year ended December 31, 2024:

     Number of Options   Weighted Average Exercise Price   Aggregate Intrinsic Value   Weighted Average Remaining Contractual Life  (Years)   Options outstanding, December 31, 2023   632   $318.00   $            -    4.53   Granted   17,005    54.62    -    10.00   Exercised   -    -    -    -   Forfeited   -    -    -    -   Expired   -    -