Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On January 25, 2023, Sharps Technology, Inc. (the "Company") granted five-year options (the "Options") to purchase a total of 950,000 shares of the Company's common stock, par value $0.0001 per share (the "Common Stock") to its directors, management and employees pursuant to the Sharps Technology, Inc. 2022 and 2023 Equity Incentive Plans. The Options are exercisable at $1.37 per share which was the closing price on January 25, 2023. Of the Options granted, Options to purchase an aggregate of 495,000 shares of Common Stock were issued to executive officers and Options to purchase an aggregate of 455,000 shares of Common Stock were issued to directors.

On January 25, 2023, the Company's Board of Directors adopted the 2023 Equity Incentive Plan (the "2023 Plan"). The 2023 Plan provides for the issuance of up to 1,400,000 options and/or shares of restricted stock to be available for issuance to officers, directors, employees and consultants. The 2023 Plan is attached as Exhibit 10.1 to this Current Report on Form 8-k.

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