Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 643

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 2
Chunk 643
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 of unrecognized RSU compensation cost related to non-vested stock-based compensation arrangements
which is expected to be recognized over a weighted-average period of 2.85 years.

A
summary of activity regarding the Restricted Stock Units issued follows:

 Schedule of Restricted Stock Units (RSUs)

    Number of RSU  
    Weighted Average
                                                                                Fair Value Per RSU 
  
    Outstanding, December 31, 2023 
     24,731  
    $11.76 
  
    Granted 
     1,102,410  
     0.81 
  
    Forfeited 
     (12,500) 
     — 
  
    Vested 
     (29,997) 
     9.14 
  
    Outstanding, December 31, 2024 
    $1,084,644  
    $0.84 

    F-23

Rights
Offering and Financing Commitment

On
February 7, 2024, the Company and its wholly-owned subsidiary, Shuttle Diagnostics, Inc., entered into a securities purchase agreement
(the “Purchase Agreement”) with SRO, LLC, a Nevada limited liability company, pursuant to which SRO LLC agreed to commit
to purchasing from the Company $2,250,000 of units from the Company, with each Unit consisting of (i) one share of the Company’s
common stock, (ii) a warrant to purchase one share of the Company’s common stock exercisable at a purchase price of $18.80 per
share, and (iii) a percentage of equity interest in Diagnostics such that, assuming the sale of all $2,250,000 of Units, SRO LLC will
own a 22% interest in Diagnostics. The Company filed an initial registration statement on Form S-1 (the “Form S-1”) with
the SEC in April 2024 related to the registration of subscription rights to purchase the Units to be sold in the Rights Offering. The
Company incurred $142,000 of costs which were expensed during the year ended December 31, 2024 due to delays in consummating the Rights
Offering. In January 2025, the Company withdrew the registration statement on Form S-1 for this offering. The registration statement
was never effective and no securities were issued pursuant to the registration statement.

Note
7 – Derivative Liabilities

Fair
Value Assumptions Used in Accounting for Der