Company: SYRA
Filing Date: 2025-09-19
Form Type: DEF 14A
Source: 0001493152-25-014246
Chunk: 35

Company: Syra Health Corp
Filing Date: 2025-09-19
Form: DEF 14A
Chunk 35
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 incurred as of December 31, 2023.

We lease our current corporate headquarters under a three-year lease from STVentures, LLC (“STVentures”). Sandeep Allam, Feroz Syed and HariKrishna Allam, the husband of Priya Prasad, our Chief Financial Officer and Chief Operating Officer, are members of STVentures. The lease commenced on July 1, 2021, and provided for a base monthly rent of $5,332 over the three-year term of the lease, which was subsequently amended to $10,711, on May 1, 2022. A total of $131,516 and $128,527 of rent expense was included in selling, general and administrative expenses for the years ended December 31, 2024, and 2023, respectively.

We incurred a total of $22,233 and $3,320 of expenses from RAD CUBE LLC, which is an entity beneficially owned by the principal owners and the management team of the Company and their affiliates, for outsourced IT services which have been presented within selling, general and administrative expenses in the statement of operations during the years ended December 31, 2024, and 2023, respectively. Sandeep Allam, our former Chairman and President, Feroz Syed and Priya Prasad, our Chief Financial Officer and Chief Operating Officer, are members of RAD CUBE LLC.

We paid a total of $516,129 and $348,304 of recruitment and human resource services to NLogix, which is an entity beneficially owned by the principal owners and the management team of the Company and their affiliates, which have been presented within cost of sales in the statement of operations during the years ended December 31, 2024 and 2023, respectively. NLogix is partially owned by Sandeep Allam, our Chairman and President, and Feroz Syed.

Related Person Transaction Policy

For purposes of our policy only, a related person transaction is a transaction, arrangement or relationship, or any series of similar transactions, arrangements, or relationships, in which we and any related person are, were or will be participants in which the amount involved exceeds the lesser of $120,000 or 1% of the average of our total assets at year-end. Transactions involving compensation for services provided to us as an employee or director are not covered by this policy. A related person is any executive officer, director, or beneficial owner of more than