Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1168

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 5
Chunk 1168
---
, 2024, the approximate dollar
value of Mr. Tani’s interest in the transaction described above was $1,001,000. In addition, accrued annual interest of 8% for past
due payment status, related shipping costs with a 30% markup, and duties, taxes, or tariffs at cost will be the responsibility of Mr.
Tani as guarantor of Innovative Genetics’ payment obligations and a potential debtor to the Company pursuant to the Tani Guaranty.
The payments by Innovative Genetics in the current or any of the past three fiscal years do not exceed 5% of our consolidated gross revenues
for that year, or $200,000, whichever is more.

75

Transactions with Engage and Excel (Alan Chippindale)

Alan Chippindale, a member of our board of directors,
the chairman of the Compensation Committee, and a member of the Company’s Nominating and Corporate Governance Committee, is the
President of Engage & Excel. In 2024, we paid Engage & Excel $7,500 for recruiting fees and $18,848 for consulting fees relating
to the T R Miller assets acquisition. In 2023, we paid Engage & Excel $17,500 for recruiting fees and $20,000 for consulting fees
relating to the T R Miller assets acquisition. We also agreed to pay Engage & Excel 1.5% of the contribution margin of the T R Miller
assets for two years, paid annually. The fees paid or that we have agreed to pay to Engage & Excel for consulting services to date
have totaled less than $200,000. The board of directors has determined that Mr. Chippindale remains eligible under Nasdaq rules to serve
as an “independent director” of the Company and as a member and chairman of the Compensation Committee and a member of the
Nominating and Corporate Governance Committee.

Open-Market Purchases of Common Stock by
Related Persons

On June 23, 2023, Alan Chippindale, a director
of the Company, purchased 8,000 shares of common stock on the open market at $1.4667 per share.

On August 28, 2023, Andrew Stranberg, Executive
Chairman, Treasurer, Secretary, and director, purchased 10,560 shares of common stock on the open market at $1.0995 per share.

On June 30, 2023,
Mr. Stran