Company: SXTPW
Filing Date: 2025-03-27
Form Type: S-1/A
Source: 0001013762-25-003353
Chunk: 250

Company: 60 DEGREES PHARMACEUTICALS, INC.
Filing Date: 2025-03-27
Form: S-1/A
Chunk 250
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            |     |           | 632 |     | $        | 318.00 |     | $         | - |     |                            | 4.53 |
| Options vested and exercisable, December 31, 2023 |     |           | 632 |     | $        | 318.00 |     | $         | - |     |                            | 4.53 |

The aggregate intrinsic value in the tables above reflects the difference between the Company’s closing stock price on the last trading day of the period and the exercise price of the options, multiplied by the number of in-the-money stock options. The intrinsic value of stock options changes based on the price of the Company’s common stock.

On July 16, 2024, the effective date of shareholder approval to increase the number of shares available under the 2022 Plan, the Company determined that the grant date criteria (as defined in ASC 718) was met, and therefore granted 12,838stock options to certain directors, executives, and non-employees, in accordance with the terms of the individuals’ employment or directors’ agreements, as applicable. On September 26, 2024, the Board of Directors approved the grant of an additional 4,167stock options to an executive.

For the year ended December 31, 2024, the Company recognized $ 32,767of compensation expense related to stock option awards ($ 119,246for the year ended December 31, 2023). No stock options were exercised, forfeited, or expired during the period presented. As of December 31, 2024, the Company had $ 116,466of unrecognized share-based compensation expense related to unvested options that is expected to be recognized over a weighted-average period of approximately 4.0years.

F-32

Awards Not Yet Granted

In December 2024, the Board approved the grant of a total of 120,000stock options to two executives at a per share exercise price equal to the closing price of our common stock on January 2, 2025. These options are subject to vesting annually in five equal tranches, with the first tranche fully vested on the date of grant (January 2, 2025) and thereafter, vest on the last date of each fiscal year beginning December 31, 2025. For accounting and disclosure purposes, no fair value has been ascribed to these stock option awards as of December 31, 2024