0001856725 2024-01-01 2024-12-31 0001856725 rani:TalatImranMember 2024-03-21 0001856725 rani:MirHashimMember 2024-03-21 0001856725 rani:SvaiSanfordMember 2024-03-21 shares iso4217:USD shares iso4217:USD pure Rani Therapeutics Holdings, Inc. true <div class="BRDSX_h2" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; font-variant: small-caps; font-weight: bold; margin-top: 20.5pt; margin-left: 0pt; text-align: left;">Policies and Practices Related to the Grant of Certain Equity Awards Close in Time to the Release of Material Nonpublic Information<span style="font-variant: normal;"> </span></div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">From time to time, we grant stock options to our employees, including the Named Executive Officers. Historically, we have granted new-hire option awards at the regularly scheduled meeting of the Board of Directors occurring after the new hire’s employment start date or for employees below Vice President level, at the end of the month following a new hire’s employment start date, if sooner, and annual employee option grants in the first quarter of each fiscal year, which annual grants are typically approved at the regularly scheduled meeting of the Board of Directors occurring in such quarter. Our typical practice is to grant annual employee stock options on the day the options are approved. Also, non-employee directors receive automatic grants of initial and annual stock option awards, at the time of a director’s initial appointment or election to the board and at the time of each annual meeting pursuant to the non-employee director compensation policy, as further described under the heading, “Director Compensation—Board Compensation” below. We do not otherwise maintain any written policies on the timing of awards of stock options, stock appreciation rights, or similar instruments with option-like features. The Compensation Committee and Board of Directors considers whether there is any material nonpublic information (“MNPI”) about the Company when determining the timing of stock option grants and does not seek to time the award of stock options in relation to the Company’s public disclosure of MNPI. We have not timed the release of MNPI for the purpose of affecting the value of executive compensation. </div><div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the fiscal year ended December 31, 2024, our Named Executive Officers were awarded stock options, in the period beginning four business days before the filing of a periodic report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on Form 8-K that disclosed material nonpublic information and ending one business day after the filing or furnishing of such report as set forth in the table below. </div><table cellpadding="0" class="BRDSX_fintab" style="border-spacing: 0;width: 468pt; margin-left: auto; margin-right: auto;"><tr class="BRDSX_boxspacer"><td style="height: 6pt; width: 72pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 38.21pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 75.09pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 71.37pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 53.31pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 113.14pt;"><div style="font-size: 1pt;"> </div></td></tr><tr class="BRDSX_header"><td style="width: 72pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Name <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">(a)</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 38.21pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Grant date <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(b)⁽¹⁾</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 75.09pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of securities <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">underlying the award <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(c)</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 71.37pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Exercise price of the <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">award ($/Sh) <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(d)</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 53.31pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Grant date fair <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">value of the <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">award <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(e)</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 113.14pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Percentage change in the closing <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">market price of the securities <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">underlying the award between <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">the trading day ending <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">immediately prior to the <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">disclosure of material nonpublic <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">information and the trading day <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">beginning immediately following <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">the disclosure of material <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">nonpublic information⁽²⁾ <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(f) </div></td></tr><tr><td style="width: 72pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Talat Imran</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 38.21pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.83pt; text-align: left;">3/21/24</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 75.09pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 17.54pt; text-align: left;">1,085,000</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 71.37pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.93pt; text-align: left;">3.60</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 53.31pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.15pt; text-align: left;">$2,936,227</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 113.14pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 50.31pt; text-align: left;">1.4% </div></td></tr><tr><td style="width: 72pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Mir Hashim</div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 38.21pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.83pt; text-align: left;">3/21/24</div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 75.09pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 17.54pt; text-align: left;"><span style="padding-left: 7.5pt;">323,500</span></div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 71.37pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.93pt; text-align: left;">3.60</div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 53.31pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.15pt; text-align: left;">$<span style="padding-left: 7.5pt;">875,456</span></div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 113.14pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 50.31pt; text-align: left;">1.4% </div></td></tr><tr><td style="width: 72pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Svai Sanford</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 38.21pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.83pt; text-align: left;">3/21/24</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 75.09pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 17.54pt; text-align: left;"><span style="padding-left: 7.5pt;">323,500</span></div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 71.37pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.93pt; text-align: left;">3.60</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 53.31pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.15pt; text-align: left;">$<span style="padding-left: 7.5pt;">875,456</span></div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 113.14pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 50.31pt; text-align: left;">1.4%</div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 2.75pt; width: 72pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 38.21pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 75.09pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 71.37pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 53.31pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 113.14pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td></tr></table><table border="0" cellpadding="0" style="border-spacing: 0;margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(1)<br/></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">These stock option awards were granted at a regularly scheduled meeting of the Board of Directors. </div></td></tr></table><table border="0" cellpadding="0" style="border-spacing: 0;margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(2)<br/></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">This represents the percentage change in the closing market price of the common stock between the trading day ending immediately prior to the disclosure of material nonpublic information (March 19, 2024) and the trading day beginning immediately following the disclosure of material nonpublic information (March 21, 2024). On March 20, 2024, we filed our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and a current report on Form 8-K related to our financial results for the fourth quarter and fiscal year ended December 31, 2023. </div></td></tr></table> Historically, we have granted new-hire option awards at the regularly scheduled meeting of the Board of Directors occurring after the new hire’s employment start date or for employees below Vice President level, at the end of the month following a new hire’s employment start date, if sooner, and annual employee option grants in the first quarter of each fiscal year, which annual grants are typically approved at the regularly scheduled meeting of the Board of Directors occurring in such quarter. Our typical practice is to grant annual employee stock options on the day the options are approved. Also, non-employee directors receive automatic grants of initial and annual stock option awards, at the time of a director’s initial appointment or election to the board and at the time of each annual meeting pursuant to the non-employee director compensation policy, as further described under the heading, “Director Compensation—Board Compensation” below. We do not otherwise maintain any written policies on the timing of awards of stock options, stock appreciation rights, or similar instruments with option-like features. true true The Compensation Committee and Board of Directors considers whether there is any material nonpublic information (“MNPI”) about the Company when determining the timing of stock option grants and does not seek to time the award of stock options in relation to the Company’s public disclosure of MNPI. false <div class="BRDSX_para" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 6pt; margin-left: 0pt; text-indent: 20pt; text-align: justify;">During the fiscal year ended December 31, 2024, our Named Executive Officers were awarded stock options, in the period beginning four business days before the filing of a periodic report on Form 10-Q or Form 10-K or the filing or furnishing of a current report on Form 8-K that disclosed material nonpublic information and ending one business day after the filing or furnishing of such report as set forth in the table below. </div><table cellpadding="0" class="BRDSX_fintab" style="border-spacing: 0;width: 468pt; margin-left: auto; margin-right: auto;"><tr class="BRDSX_boxspacer"><td style="height: 6pt; width: 72pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 38.21pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 75.09pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 71.37pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 53.31pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="height: 6pt; width: 113.14pt;"><div style="font-size: 1pt;"> </div></td></tr><tr class="BRDSX_header"><td style="width: 72pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">Name <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; margin-left: 0pt; text-align: left;">(a)</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 38.21pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Grant date <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(b)⁽¹⁾</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 75.09pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Number of securities <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">underlying the award <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(c)</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 71.37pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Exercise price of the <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">award ($/Sh) <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(d)</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 53.31pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Grant date fair <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">value of the <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">award <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(e)</div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; border-bottom: none;"><div style="font-size: 1pt;"> </div></td><td style="width: 113.14pt; padding-bottom: 2.38pt; text-align: left; vertical-align: bottom; border-bottom: 1pt solid #000000;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">Percentage change in the closing <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">market price of the securities <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">underlying the award between <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">the trading day ending <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">immediately prior to the <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">disclosure of material nonpublic <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">information and the trading day <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">beginning immediately following <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">the disclosure of material <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">nonpublic information⁽²⁾ <br/></div><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; font-weight: bold; margin-top: 0pt; text-align: center;">(f) </div></td></tr><tr><td style="width: 72pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Talat Imran</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 38.21pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.83pt; text-align: left;">3/21/24</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 75.09pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 17.54pt; text-align: left;">1,085,000</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 71.37pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.93pt; text-align: left;">3.60</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 53.31pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.15pt; text-align: left;">$2,936,227</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 113.14pt; padding-top: 2.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 50.31pt; text-align: left;">1.4% </div></td></tr><tr><td style="width: 72pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: left; vertical-align: bottom;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Mir Hashim</div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 38.21pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.83pt; text-align: left;">3/21/24</div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 75.09pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 17.54pt; text-align: left;"><span style="padding-left: 7.5pt;">323,500</span></div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 71.37pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.93pt; text-align: left;">3.60</div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 53.31pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.15pt; text-align: left;">$<span style="padding-left: 7.5pt;">875,456</span></div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt;"><div style="font-size: 1pt;"> </div></td><td style="width: 113.14pt; padding-top: 1.01pt; padding-bottom: 1.38pt; text-align: center; vertical-align: bottom; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 50.31pt; text-align: left;">1.4% </div></td></tr><tr><td style="width: 72pt; padding-top: 1.01pt; text-align: left; vertical-align: bottom; background-color: #CCEEFF;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 0pt; text-align: left;">Svai Sanford</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 38.21pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 3.83pt; text-align: left;">3/21/24</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 75.09pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 17.54pt; text-align: left;"><span style="padding-left: 7.5pt;">323,500</span></div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 71.37pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 26.93pt; text-align: left;">3.60</div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 53.31pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 4.15pt; text-align: left;">$<span style="padding-left: 7.5pt;">875,456</span></div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="width: 113.14pt; padding-top: 1.01pt; text-align: center; vertical-align: bottom; background-color: #CCEEFF; white-space: nowrap;"><div class="BRDSX_fpara" style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 10pt; margin-top: 0pt; margin-left: 50.31pt; text-align: left;">1.4%</div></td></tr><tr class="BRDSX_boxspacer"><td style="height: 2.75pt; width: 72pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 38.21pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 75.09pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 71.37pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 53.31pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 4.49pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td><td style="height: 2.75pt; width: 113.14pt; background-color: #CCEEFF;"><div style="font-size: 1pt;"> </div></td></tr></table><table border="0" cellpadding="0" style="border-spacing: 0;margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(1)<br/></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: left;">These stock option awards were granted at a regularly scheduled meeting of the Board of Directors. </div></td></tr></table><table border="0" cellpadding="0" style="border-spacing: 0;margin-top: 3pt; margin-left: 0pt;"><tr><td style="width: 20pt; text-align: left; vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt;">(2)<br/></div></td><td style="vertical-align: top;"><div style="color: #000000; font-family: 'Times New Roman', Times, serif; font-size: 8pt; text-align: justify;">This represents the percentage change in the closing market price of the common stock between the trading day ending immediately prior to the disclosure of material nonpublic information (March 19, 2024) and the trading day beginning immediately following the disclosure of material nonpublic information (March 21, 2024). On March 20, 2024, we filed our Annual Report on Form 10-K for the fiscal year ended December 31, 2023 and a current report on Form 8-K related to our financial results for the fourth quarter and fiscal year ended December 31, 2023. </div></td></tr></table> Talat Imran 1085000 3.6 2936227 0.014 Mir Hashim 323500 3.6 875456 0.014 Svai Sanford 323500 3.6 875456 0.014 DEF 14A 0001856725 false