Company: SHPH
Filing Date: 2025-02-26
Form Type: 10-K
Source: 0001493152-25-008300
Chunk: 140

Company: Shuttle Pharmaceuticals Holdings, Inc.
Filing Date: 2025-02-26
Form: 10-K
Item: Item 1
Chunk 140
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’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 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