Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 642

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 2
Chunk 642
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 Plan

The
Company’s 2018 Equity Incentive Plan (the “2018 Plan”) provides for equity incentives to be granted to employees, executive
officers, directors and key advisers and consultants. Equity incentive grants may be made in the form of stock options with an exercise
price of not less than the fair market value of the underlying shares as determined pursuant to the 2018 Plan, restricted stock awards,
other stock-based awards, or any combination of the foregoing. The 2018 Plan is administered by the Company’s compensation committee.
The Company has reserved 3,000,000 shares of common stock for issuance under the 2018 Plan. As of December 31,
2024, 1,174,684 shares have been granted, net of forfeitures, under the 2018 Equity Incentive
Plan, of which 90,045 shares have vested.

Restricted
Stock Units

The
Company may grant restricted stock units (“RSU”) under our 2018 Plan. RSUs are bookkeeping entries representing an amount
equal to the fair market value of one share of our common stock. Subject to the provisions of the 2018 Plan, the administrator determines
the terms and conditions of RSUs, including the vesting criteria and the form and timing of payment. Notwithstanding the foregoing, the
administrator, in its sole discretion, may accelerate the time at which any restrictions will lapse or be removed. RSUs granted typically
vest annually in one third increments from the date of appointment.

During
the years ended December 31, 2024 and 2023, pursuant to agreements with directors, officers and consultants, 1,102,410
and 32,415
RSUs with a value of
$0.9
million and $0.4
million were granted,
respectively. Compensation expense for the vesting RSUs were as follows:

Schedule
of Compensation Expenses (RSUs)

    2024  
    2023 

    Year ended December 31, 

    2024  
    2023 
  
    Recognized in general and administrative expense 
    $183,971  
    $115,000 
  
    Recognized in research and development expense 
     75,773  
     66,960 
  
    Total 
    $259,744  
    $181,960 

As
of December 31, 2024, there was $0.9 million