Sonnet BioTherapeutics, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Share-Based Compensation (Tables)

Share-Based Compensation (Tables)

6 Months Ended

Mar. 31, 2023

Share-Based Payment Arrangement [Abstract]

Schedule of Share-based Compensation Expense

The Company recorded share-based compensation expense associated with the RSUs and RSAs in its accompanying unaudited interim consolidated statements of operations as follows:

	Three Months Ended		Six Months Ended		Three Months Ended		Six Months Ended
	March 31, 2023		March 31, 2023		March 31, 2022		March 31, 2022
Research and development	$	33,908	$	80,616	$	160,907	$	330,083
General and administrative		23,090		67,999		189,984		352,883
Share Based Compensation	$	56,998	$	148,615	$	350,891	$	682,966

Schedule of Restricted Stock Units Activity

The following table summarizes RSU activity under the Plan:

	RSU			Weighted Average Grant Date Fair Value
Unvested balance at October 1, 2022		47,798		$	7.98
Granted		172,672		$	0.98
Vested		(47,790	)	$	0.57
Forfeited/cancelled		(121,366	)	$	0.97
Unvested balance at March 31, 2023		51,314		$	0.99

Schedule of Restricted Stock Awards Activity

The following table summarizes RSA activity under the Plan:

	RSA		Weighted Average Grant Date Fair Value
Unvested balance at October 1, 2022		—	$	—
Granted		121,366	$	1.29
Vested		—	$	—
Forfeited/cancelled		—	$	—
Unvested balance at March 31, 2023		121,366	$	1.29