| EQUITY INCENTIVE PLAN |
NOTE
11 - EQUITY INCENTIVE PLAN
On
August 26, 2021, the Company adopted a equity incentive plan providing for the issuance of shares of common stock, options or SARs with
a rolling maximum number equal to 10% of the issued and outstanding Common Shares set at the beginning of each fiscal year. The Company
may grant incentives to its directors, officers, employees and service providers. The options are exercisable for a maximum of up to
ten years from the date of grant and may be subject to vesting provisions as set by the Plan Administrator.
During
the quarter ended March 31, 2022, a total of 2,500 shares of common stock and 18,641 options at a weighted-average exercise price of
$20.70 per share were granted to employees exercisable for a period of five years with immediate vesting. The weighted-average fair value
attributable to options granted in 2022 was $8.32.
The
fair value of the stock options recognized in the period has been estimated using the Black-Scholes option pricing model.
Curative
Biotechnology, Inc
Notes
to Condensed Financial Statements
(Unaudited)
Assumptions
used in the pricing model are as provided below.
SCHEDULE
OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS
| Risk-free interest rate | |
| 1.55 | % |
| Exercise price | |
$ | 20.70 | |
| Expected life | |
| 5 years | |
| Expected volatility | |
| 44.12 | % |
| Expected dividends | |
| - | |
The
Company recognized equity incentive expense of approximately $207,000 for the nine months ended September 30, 2022.
As
of September 30, 2022, there were 18,641 fully vested options outstanding with a weighted average exercise price of $20.70 per share.
There were no non-vested options outstanding.
A
summary of the Company’s stock option plan and changes during the nine months ended September 30, 2022 is as follows:
SCHEDULE
OF STOCK OPTION ACTIVITY
| | |
Number of options | | |
Weighted average exercise price | |
| Balance - beginning of the year | |
| - | | |
$ | - | |
| Granted | |
| 18,641 | | |
| 20.70 | |
| Exercised | |
| - | | |
| - | |
| Cancelled | |
| - | | |
| - | |
| Balance - end of period | |
| 18,641 | | |
$ | 20.70 | |
The
aggregate intrinsic value of vested share options (the market value less the exercise price) at September 30, 2022 was zero.
|
NOTE
11 - EQUITY INCENTIVE PLAN
On
August 26, 2021, the Company adopted a equity incentive plan providing for the issuance of shares of common stock, options or SARs with
a rolling maximum number equal to 10% of the issued and outstanding Common Shares set at the beginning of each fiscal year. The Company
may grant incentives to its directors, officers, employees and service providers. The options are exercisable for a maximum of up to
ten years from the date of grant and may be subject to vesting provisions as set by the Plan Administrator.
During
the quarter ended March 31, 2022, a total of 2,500 shares of common stock and 18,641 options at a weighted-average exercise price
of $20.70 per share were granted to employees exercisable for a period of five years with immediate vesting. The weighted-average fair
value attributable to options granted in 2022 was $8.32.
The
fair value of the stock options recognized in the period has been estimated using the Black-Scholes option pricing model.
Assumptions
used in the pricing model are as provided below.
SCHEDULE
OF FAIR VALUE OF STOCK OPTION ASSUMPTIONS
| Risk-free interest rate | |
| 1.55 | % |
| Exercise price | |
$ | 20.70 | |
| Expected life | |
| 5 years | |
| Expected volatility | |
| 44.12 | % |
| Expected dividends | |
| - | |
The
Company recognized a equity incentive expense of $243,435 for the six months ended June 30, 2022.
As
of June 30, 2022, there were 18,641
fully vested options outstanding with a weighted average exercise price of $20.70
per share. There were no
non-vested options outstanding.
A
summary of the Company’s stock option plan and changes during the six months ended June 30, 2022 is as follows:
SCHEDULE
OF STOCK OPTION ACTIVITY
| | |
Number of options | | |
Weighted average exercise price | |
| Balance - beginning of the year | |
| - | | |
$ | - | |
| Granted | |
| 18,641 | | |
| 20.70 | |
| Exercised | |
| - | | |
| - | |
| Cancelled | |
| - | | |
| - | |
| Balance - end of period | |
| 18,641 | | |
$ | 20.70 | |
The
aggregate intrinsic value of vested share options (the market value less the exercise price) at June 30, 2022 was zero.
|