Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2347

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 11
Chunk 2347
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 if the annual gross
profit target is certified as attained; (3) grant of 5,000 shares and vesting of the stock option as to 7,500 shares if the annual net
profit target is certified as attained; (4) grant of 10,000 shares and vesting of the stock option as to 12,500 shares if 125% of the
annual net profit target is certified as attained; (5) grant of 10,000 shares and vesting of the stock option as to 15,000 shares if 150%
of the annual net profit target is certified as attained; and (6) vesting of the stock option as to 2,000 shares for every $100,000 by
which net profit is certified as exceeding 150% the annual net profit target, up to a maximum of 50,000 shares.

All equity
bonuses under the Browner Employment Agreement will be awarded under the Plan. The Plan provides that to the extent that equity bonuses
of grants of common stock are designated Performance Compensation Awards (as defined by the Plan) by the board or the Compensation Committee
and to the extent that each fiscal year constitutes a Performance Period (as defined by the Plan), pursuant to the Plan, such awards must
be granted as soon as administratively practicable following completion of the certification of the attainment of the performance conditions
for such awards but in no event later than 2 1/2 months following the end of the fiscal year during which the respective Performance
Period is completed. Otherwise, such grants will be considered Performance Shares (as defined by the Plan) and will be granted when certified
by the board or the Compensation Committee.

Under the
Browner Employment Agreement, Mr. Browner will also be eligible for additional bonus amounts as determined by the board or the Compensation
Committee within its sole discretion. Mr. Browner will receive unlimited paid time off and paid public holidays, standard executive benefits,
standard directors and officers indemnification and insurance coverage, and business-related expense reimbursements.

On February
15, 2024, in connection with the Company’s fiscal year 2023 executive bonus determinations, the Compensation Committee certified
the attainment of the performance conditions under the Browner Agreement for the award of a $26,250 cash bonus, the grant of 5,000 shares
of common stock, and the vesting of the stock option granted to Mr. Browner on April 14, 2023 as to