Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1777

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 9
Chunk 1777
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-vested shares of common stock to be granted on the six-month anniversary of the agreement date; and (iii) 20,000 additional fully-vested
shares of common stock to be granted on the twelve-month anniversary of the agreement date. Due to an administrative oversight, we did
not grant the 20,000 shares required to be granted to JCA on each of the six-month and twelve-month anniversaries of the agreement date
as provided under the Audibert Consulting Agreement. JCA agreed to receive these grants in 2023. On April 14, 2023, the Compensation Committee
approved the grants.

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We also agreed to equity grants to JCA consisting
of (i) the grant of an option which may be exercised to purchase 65,000 shares of common stock at the exercise price per share of $3.90
which will vest based on the attainment of the option’s performance conditions, and (ii) fully-vested restricted stock to be granted
upon attainment of the same performance conditions, as follows: (a) 10,000 fully-vested restricted shares granted and the stock option
vested as to 10,000 shares of common stock if our sales exceeded $21,000,000 combined for any two consecutive quarters or if our market
capitalization exceeded $65,000,000 for twenty-five (25) out of thirty (30) consecutive trading days anytime within the Audibert Consulting
Agreement’s term; (b) 10,000 additional fully-vested restricted shares granted and the stock option vested as to 10,000 additional
shares of common stock if our sales exceeded $25,000,000 combined for any two consecutive quarters or if our market capitalization exceeded
$75,000,000 for twenty-five (25) out of thirty (30) consecutive trading days anytime within the Audibert Consulting Agreement’s
term; (c) 15,000 additional fully-vested restricted shares granted and the stock option vested as to 20,000 additional shares if our sales
exceeded $37,500,000 combined for any two consecutive quarters or if our market capitalization exceeded $90,000,000 for twenty-five (25)
out of thirty (30) consecutive trading days anytime within the Audibert Consulting Agreement’s term; and (d) 25,000 additional fully-vested
restricted shares granted and the stock option vested as to 25,000 additional shares if