Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 451

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1B
Chunk 451
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 or payment of the value
of the award in cash or stock. Except as otherwise determined by the administrator at the date of grant, awards will generally not
be transferable, other than by will or the laws of descent and distribution. Prior to any award distribution, to the extent provided
by the terms of an award agreement and subject to the discretion of the administrator, a participant may satisfy any employee
withholding tax requirements relating to the exercise or acquisition of common stock under an award by tendering a cash payment
authorizing the Company to withhold shares of common stock otherwise issuable to the participant as a result of the exercise or
acquisition of common stock under the award (in addition to the Company’s right to withhold from any compensation paid to the
participant by the Company). The board of directors has the authority, at any time, to discontinue the granting of awards. The board
also has the authority to alter or amend the Plan or any outstanding award or may terminate the Plan as to further grants, provided
that no amendment to the Plan will be made, without the approval of our stockholders, to the extent that such approval is required
by law or the rules of an applicable securities exchange, or such alteration or amendment would change the number of shares
available under the Plan or change the persons eligible for awards under the Plan. No amendment to an outstanding award made under
the Plan that would adversely affect the award may be made without the consent of the holder of such award.

72

Clawback Policy

On November 2, 2023, our board of directors adopted
the Company’s Clawback Policy in accordance with applicable Nasdaq rules (the “Clawback Policy”). The Clawback Policy provides
that we will recover reasonably promptly the amount of erroneously awarded incentive-based compensation to any current or former executive
officers in the event that the Company is required to prepare an accounting restatement due to the material noncompliance of the Company
with any financial reporting requirement under the securities laws, including any required accounting restatement to correct an error
in previously issued financial statements that is material to the previously issued financial statements, or that would result in a material
misstatement if the error were corrected in the current period or left uncorrected in the current period. A copy of the Clawback Policy
is filed as Exhibit 97.1 to this Annual Report on Form 10-K.

Pursuant to Rule 10D-1(b) of the Exchange Act,
Nas