Company: CERO
Filing Date: 2025-08-22
Form Type: 10-Q
Source: 0001213900-25-079898
Chunk: 64

Company: CERO THERAPEUTICS HOLDINGS, INC.
Filing Date: 2025-08-22
Form: 10-Q
Item: Item 1
Chunk 64
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 value as of March 31, 2025 and June 30, 2025.

NOTE 11
– STOCK-BASED COMPENSATION

On March 25, 2024, stockholders approved the 2024 Equity Incentive
Plan (the “2024 Plan”), with initial reserves of 2,586 shares of common stock. The 2024 Plan became effective on February
14, 2024. At a special meeting of stockholders on April 30, 2024, the stockholders approved an increase in the number of shares available
for issuance under the 2024 Plan and the number of shares that may be issued pursuant to incentive stock options, by an additional 1,000
shares each. At a special meeting of stockholders on November 11, 2024, the stockholders approved an increase in the number of shares
available for issuance under the 2024 Plan and the number of shares that may be issued pursuant to incentive stock options, by an additional
10,423 shares each. The 2024 Plan has an evergreen provision that allows for an annual increase in the number of shares available for
issuance under the 2024 Plan to be added on the first day of January, starting with January 1, 2025, in an amount equal to the lesser
of (i) 5% of the fully diluted shares of our Common Stock on the immediately preceding December 31 or (ii) such number of shares as determined
by our board in each case subject to adjustment in the event of a stock split, stock dividend or other change in our capitalization. On
January 1, 2025, the number of shares reserved under the 2024 Plan was increased by 5% of the fully diluted shares of our common stock
on the immediately preceding December 31, or 9,485 shares. On May 29, 2025, at the Company’s annual meeting, the stockholders approved
an amendment to the 2024 Plan to increase the number of shares issuable thereunder by an additional 100,000 shares of Common Stock.

On March 25, 2024, stockholders approved the 2024 Employee Stock Purchase
Plan (the “2024 ESPP”), with initial reserves of 255 shares of common stock. The 2024 ESPP became effective on February 14,
2024. The 2024 ESPP also has an evergreen provision. On January