Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 618

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 4
Chunk 618
---

     0  
     229,836 

     2024  
     88,352  
      0  
     0  
     0  
     0  
     0  
     88,352 
  
    Eric Morris, Interim CFO 
     2023  
     84,720  
     3,000  
     0  
     39,117  
     0  
     0  
     126,837 

     2024  
     168,960  
     1,500  
     0  
     0  
     0  
     0  
     170,460 

(1)
Reflects
the fair value of stock awards during the years in accordance with FASB ASC 718, Compensation–- Stock Compensation, using actual
forfeitures that were immaterial. For valuation assumptions related to the 2023   option awards, refer to Note 2, “Share-Based
Compensation,” to the accompanying audited consolidated financial statements for the year ended October 31, 2024.

(2)
Mr.
Nirajkumar Patel resigned from the Company on September 7, 2024, upon his passing.

(3)
Mr. Mosser resigned from the Company on March 8, 2024.

(4)
Mr. Metzler resigned from the Company on February 20, 2024.

(5)
Mr. Sheriff resigned from the Company on February 22, 2024.

(6)
Consulting fees pursuant to
the Consulting Agreement (as defined below). See “Narrative Discussion” for additional information.

Narrative Discussion

The following is a narrative discussion
of the material information that we believe is necessary to understand disclosed in the foregoing Summary Compensation Table. The following
narrative disclosure is separated into sections, with a separate section for each of our named executive officers.

52

Nirajkumar Patel

During the fiscal year ended October 31, 2024, we paid a base salary of approximately
$241,499 to Nirajkumar Patel, our former CEO, Chief Science & Regulatory Officer, compared to a base salary of approximately $276,000
for the fiscal year ended October 31, 2023.

We issued the following stock compensation
to Mr. Patel during fiscal years 202