Company: KWIK
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001683168-25-002055
Chunk: 55

Company: KwikClick, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 55
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 employees, including our executive officers, as the long-term incentive component of our compensation
program. We may grant equity awards to new hires upon their commencing employment with us. Our stock options allow employees to purchase
shares of our common stock at a price per share equal to the fair market value of our common stock on the date of grant and may or may
not be intended to qualify as “incentive stock options” for U.S. federal income tax purposes. Our stock appreciation rights
allow employees to receive a cash payment for the difference between the market price of our common stock on the date of exercise and
the strike price. We sometimes also offer stock options, stock appreciation rights and stock awards to our consultants in lieu of cash.
Our stock options allow consultants to purchase shares of our common stock at a price per share equal to the fair market value of our
common stock on the date of grant and are not intended to qualify as “incentive stock options” for U.S. federal income tax
purposes. Our stock appreciation rights allow consultants to receive a cash payment for the difference between the market price of our
common stock on the date of exercise and the strike price. Stock options, stock appreciation rights, and stock awards granted to our executive
officers may be subject to accelerated vesting in certain circumstances.

No Tax Gross-Ups

We do not make gross-up payments to cover our executive
officers’ personal income taxes that may pertain to any of the compensation paid or provided by our company.

2021 Equity Incentive Plan 

Plan Purpose

Our Board of Directors adopted the 2021 Plan to (1)
encourage selected employees, officers, directors, consultants and advisers to improve our operations and increase our profitability,
(2) encourage selected employees, officers, directors, consultants and advisers to accept or continue employment or association with us,
and (3) increase the interest of selected employees, officers, directors, consultants and advisers in our welfare through participation
in the growth in value of our common stock. All of our current employees, directors and consultants are eligible to participate in the
2021 Plan.

Administration

The 2021 Plan is to be administered by the Board or
by a committee to which administration of the Plan, or of part of thereof, is delegated by the Board. The 2021 Plan is currently administered
by our Compensation Committee, which we refer to below as the “Administrator.” The Administrator is responsible for selecting
the officers, employees, directors, consultants and advisers