Company: IPST
Filing Date: 2025-12-23
Form Type: 424B3
Source: 0001213900-25-125341
Chunk: 349

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-12-23
Form: 424B3
Chunk 349
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 expense for RSU awards is recognized upon meeting both the time -vestingcondition and the triggering event condition. In May 2024, 5,268 RSUs were voluntarily terminated, and 125 were issued, leaving 553 issued RSUs to settle at a grant value of $3,157.80 per unit. In May 2024, the Board of Directors approved awarding 11,726 RSUs to employees, directors and consultants with a fair grant value of $80 per unit. These RSUs contain a double trigger and, upon grant, were deemed to have met their time -basedservice requirements for vesting. They settled on the expiration of the Market Stand -offprovision in the 2019 stock incentive plan (or May 24, 2025, which was 180 days from the November 25, 2024 closing of the Company’s initial public offering). As of September 30, 2025, 0 RSUs were outstanding.

F-40

Heritage Distilling Holding Company, Inc.
Notes to Condensed Consolidated Financial Statements
(unaudited) NOTE 8 — STOCKHOLDERS’ EQUITY / (DEFICIT) (cont.) The following table presents stock -basedcompensation expense included in the condensed consolidates statements of operations related to RSUs issued under the 2024 Plan:

|                                |     | For the Nine Months Ended 
 September 30,             
 2025                      |           |     | 2024 |   |
|:-------------------------------|:----|:--------------------------|----------:|:----|:-----|:--|
| Cost of Sales                  |     | $                         |   121,107 |     | $    | — |
| Sales and Marketing            |     |                           |   647,295 |     |      | — |
| General and Administrative     |     |                           | 2,282,261 |     |      | — |
| Total Share-based Compensation |     | $                         | 3,050,663 |     | $    | — |

Equity -classified warrants —The Company estimates the fair values of equity warrants using the Black -Scholesoption -pricingmodel on the date of issuance with Monte Carlo simulations to determine the probability of warrants being exercisable. Contingent Legacy Shareholder Warrants— On October 30, 2024, the Company issued warrants to purchase common stock that became contingently exercisable upon the closing of an initial public offering