| Schedule of Stock Option Activity |
InflaRx GmbH granted options under the 2012 Stock
Option Plan. Those InflaRx GmbH options were converted into options for ordinary shares of InflaRx N.V. at the time of its IPO in November
2017:
| Number of share options | |
2025 | | |
2024 | |
| Outstanding as of January 1, | |
| 148,433 | | |
| 148,433 | |
| Exercised during the six months ended June 30 | |
| — | | |
| — | |
| Outstanding as of June 30, | |
| 148,433 | | |
| 148,433 | |
| thereof vested / exercisable | |
| 148,433 | | |
| 148,433 | |
Those InflaRx GmbH options were converted into options for ordinary shares of InflaRx N.V. at the time of its IPO in November
2017:
| Number of share options | |
2025 | | |
2024 | |
| Outstanding as of January 1, | |
| 888,632 | | |
| 888,632 | |
| Exercised during the six months ended June 30 | |
| — | | |
| — | |
| Outstanding as of June 30, | |
| 888,632 | | |
| 888,632 | |
| thereof vested / exercisable | |
| 888,632 | | |
| 888,632 | |
InflaRx also granted share options under the
2017 Long-Term Incentive Plan, or 2017 LTIP, subsequently to its IPO in November 2017. Certain stock options granted between 2017 and
2020 were issued with an eight-year option term and during the three months ended March 31, 2025, were extended to an option term of ten
years. The total number of share options granted during the six months ended June 30, 2025 under the 2017 LTIP was as follows:
| Number of share options | |
2025 | | |
2024 | |
| Outstanding as of January 1, | |
| 8,905,446 | | |
| 6,584,946 | |
| Granted during the six months ended June 30, | |
| 2,452,000 | | |
| 2,275,000 | |
| Exercised during the six months ended June 30, | |
| — | | |
| — | |
| Forfeited during the six months ended June 30, | |
| (110,500 | ) | |
| (7,000 | ) |
| Outstanding as of June 30, | |
| 11,246,946 | | |
| 8,852,946 | |
| thereof vested / exercisable | |
| 9,375,196 | | |
| 6,588,696 | |
|
| Schedule of Fair Value Options Granted |
The key information and assumptions related to
share options granted during the six months ended June 30, 2025 under the 2017 LTIP were as follows:
| Share options granted 2025 | |
Number | | |
Fair
value
per
option | | |
FX rate as of grant date | | |
Fair value per
option | | |
Share price at grant date /
Exercise price | | |
Expected volatility | | |
Expected life
(midpoint based) | | |
Risk-free rate
(interpolated, U.S. sovereign strips curve) | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| | |
| |
| January 03 | |
| 2,452,000 | | |
$ | 1.86 | | |
| 0.971 | | |
€ | 1.81 | | |
$ | 2.41 | | |
| 0.97 | | |
| 5.5 | | |
| 0.04435 | |
| | |
| 2,452,000 | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
|