Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 438

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1
Chunk 438
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 (3,120 of which were subsequently forfeited
unexercised).

Share
Reserve. 7,500,000 shares of common stock are reserved for issuance under the 2018 Plan pursuant to a variety of stock-based compensation
awards, including stock options, stock appreciation rights (“SARs”), restricted stock awards, restricted stock unit awards,
deferred stock awards, dividend equivalent awards, stock payment awards, performance awards and other stock-based awards.

●
to the extent that an award terminates, expires or lapses for any reason or an award is settled in cash without the delivery of shares,
any shares subject to the award at such time will be available for future grants under the 2018 Plan;

49

●
to the extent shares are tendered or withheld to satisfy the grant, exercise price or tax withholding obligation with respect to any
award under the 2018 Plan, such tendered or withheld shares will be available for future grants under the 2018 Plan;

●
to the extent that shares of common stock are repurchased by us prior to vesting so that shares are returned to us, such shares will
be available for future grants under the 2018 Plan;

●
the payment of dividend equivalents in cash in conjunction with any outstanding awards will not be counted against the shares available
for issuance under the 2018 Plan; and

●
to the extent permitted by applicable law or any exchange rule, shares issued in assumption of, or in substitution for, any outstanding
awards of any entity acquired in any form of combination by us or any of our subsidiaries will not be counted against the shares available
for issuance under the 2018 Plan.

Administration.
The compensation committee is expected to administer the 2018 Plan unless our board of directors assumes authority for administration.
The compensation committee must consist of at least three members of our board of directors, each of whom is intended to qualify as an
“outside director,” within the meaning of Section 162(m) of the Code, a “non-employee director” for purposes
of Rule 16b-3 under the Exchange Act and an “independent director” within the meaning of the NASDAQ rules. The 2018 Plan
provides that the board of directors or compensation committee may delegate its authority to grant awards to employees other than executive
officers to a committee consisting of one or more members of our board of directors or one or more of our officers, other than awards
made to our non-employee