Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 687

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1C
Chunk 687
---
, as and if declared by our
board of directors, based upon the board’s assessment of our financial condition and performance, earnings, need for funds, capital
requirements, prior claims of preferred stock to the extent issued and outstanding, and other factors, including income tax consequences,
restrictions and applicable laws. There can be no assurance, therefore, that any dividends on our common stock will ever be paid.

 22 

Equity Compensation
Plan Information

This
following table provides information about shares our common stock that may be issued under our options outstanding at December 31,
2024. Other than individual options outstanding reflected in the table below, we did not have any shares authorized for issuance under
equity plans at December 31, 2024.

    Plan category 
    Number
    of securities to be issued upon exercise of outstanding options, warrants and rights  
    Weighted-average
    exercise price of outstanding options, warrants and rights  
    Number
    of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) 

    (a)  
    (b)  
    (c) 
  
    Equity compensation plans approved
    by security holders 
     593,470  
    $2.39  
     415,530 
  
    Equity compensation plans
    not approved by security holders (1) 
     182,735  
     3.76  
     N/A 
  
    Total 
     776,205  
    $2.71  
     415,530 

(1)
Represents warrants issued on June 21, 2023 to the underwriter in the Company’s IPO, and warrants issued on June 26, 2024
to underwriter in our follow-on public offering.

2022
Equity Incentive Plan

General

Our
board of directors and stockholders adopted the 2022 Equity Incentive Plan as of January 1, 2022, which provides for the grant of incentive
stock options and non-qualified stock options to purchase shares of our common stock and other types of awards. The general purpose of
the 2022 Equity Incentive Plan is to provide a means whereby eligible employees, officers, non-employee directors and other individual
service providers develop a sense of proprietorship and personal involvement in our development and financial success, and to encourage
them to devote their best efforts to our business, thereby