Company: SWAGW
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001213900-25-109289
Chunk: 120

Company: Stran & Company, Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 1
Chunk 120
---
1, 2025 - July 31, 2025 
     76,447  
    $1.49  
     2,001,906  
    $6,357,855 
  
    August 1, 2025 - August 31, 2025 
     171,250  
    $1.51  
     2,173,156  
    $6,098,713 
  
    September 1, 2025 - September 30, 2025 
     19,510  
    $1.78  
     2,192,666  
    $6,063,967 

23

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

M.STOCK-BASED COMPENSATION:

In November 2021, the board of directors
adopted the Amended and Restated 2021 Equity Incentive Plan (the “2021 Plan”) which provides for the granting of non-qualified
stock options and restricted stock to the Company’s employees, officers, directors, and outside consultants to purchase shares of
the Company’s common stock. As of September 30, 2025, the number of shares of common stock available for issuance under the 2021
Plan is 977,572 shares of common stock.

Stock-based compensation expense included
the following components:

    Three Months Ended 
September 30,  
    Nine Months Ended 
September 30, 

    2025  
    2024  
    2025  
    2024 
  
    Stock options 
    $7  
    $3  
    $17  
    $19 
  
    Restricted stock 
     18  
     —  
     48  
     154 

    $25  
    $3  
    $65  
    $173 

All stock-based compensation expense
is recorded in general and administrative expense in the unaudited condensed consolidated statements of operations.

Stock Options

The fair value of options is estimated
on the date of grant using the Black-Scholes option pricing model. The fair value is amortized as compensation cost on a straight-line
basis over the requisite service period of the awards, which is generally the vesting period. Expected volatility