Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 350

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 1B
Chunk 350
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53

Stephen Sheriff

During the fiscal year ended October
31, 2024, we paid a base salary of approximately $88,352 to Stephen Sheriff, our former COO, compared to a base salary of approximately
$146,528 for the fiscal year ended October 31, 2023.

We issued the following stock compensation
to Mr. Thoenes during fiscal years 2023 and 2024:

    Vesting and/or Issuance Date   
    Number of Shares of our Common Stock 
    Price Per Share 
    Aggregate Value
  
     8/22/2023 
     7,524  
     10.08  
     75,842 
  
     2/6/2023 
     1,190  
     15.33  
     18,243 

Eric Morris

During the fiscal year ended October
31, 2024, we paid a base salary of approximately $168,960 to Eric Morris, our Interim CFO, compared to a base salary of approximately
$84,720 for the fiscal year ended October 31, 2023.

We issued the following stock compensation
to Mr. Morris during fiscal years 2023 and 2024:

    Vesting and/or Issuance Date   
    Number of Shares of our Common Stock 
    Price Per Share 
    Aggregate Value
  
     7/8/2023 
     2,381  
     16.56  
     39,429 

Outstanding Equity Awards at Fiscal Year-End October 31, 2024

    Stock Option Awards
  
    Name 
    Number of Stock Options that Have Not Vested (#) 
    Market Value of Stock Options that Have Not Vested ($)
  
     Eric Morris 
     1,786  
     29,572 
  
    Mark Thoenes 
     2,500  
     9,100 

Potential Payments Upon Termination or Change-of-Control

Other than the stock options mentioned
above in “Outstanding Equity Awards at Fiscal Year-End”, none of our named executive officers are entitled to any payments
upon termination or change-of-control.

Retirement or Similar Benefit Plans

There are no arrangements or plans
in which we provide retirement or similar benefits for our named executive officers.

54

Director Compensation

In fiscal year 2024, we compensated
our independent directors as follows:

    Name