Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1005

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 4
Chunk 1005
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ing of 7.5% of the restricted
stock if 95% of the annual net profit target is certified as attained; (b) 30% of the restricted stock if 100% of the annual net profit
target is certified as attained; (c) 45% of the restricted stock if 110% of the annual net profit target is certified as attained; or
(d) 60% of the restricted stock if 120% of the annual net profit target is certified as attained.

65

Two of the
other equity bonuses will consist of the grant of fully-vested shares of common stock and the vesting of a portion of the stock option
granted each year under the A&R Audibert Consulting Agreement, and two of the other equity bonuses will consist of the vesting of
a portion of such stock option only, in each case based on whether each bonus’s designated target or target percentage is certified
as attained, as follows: (1) grant of 8,000 shares and vesting of the stock option as to 40,000 shares if the annual sales target is certified
as attained; (2) grant of 12,000 shares and vesting of the stock option as to 40,000 shares if the annual net profit target is certified
as attained; (3) vesting of the stock option as to 50,000 shares if 125% of the annual net profit target is certified as attained; and
(4) vesting of the stock option as to 50,000 shares if 150% of the annual net profit target is certified as attained.

All equity
bonuses under the A&R Audibert Consulting Agreement have been or will be awarded under standard forms of award agreements under the
Plan. The Plan provides that to the extent that equity bonuses of grants of common stock are designated Performance Compensation Awards
(as defined by the Plan) by the board or the Compensation Committee and to the extent that each fiscal year constitutes a Performance
Period (as defined by the Plan), pursuant to the Plan, such awards must be granted as soon as administratively practicable following completion
of the certification of the attainment of the performance conditions for such awards but in no event later than 2 1/2 months following
the end of the fiscal year during which the respective Performance Period is completed. Otherwise, such grants will be considered Performance
Shares (as defined by the Plan) and will be granted when certified by the board or the Compensation