Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1281

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1281
---
 for any two consecutive quarters or if our market
capitalization exceeded $65,000,000 for twenty-five (25) out of thirty (30) consecutive trading days anytime within the Audibert Consulting
Agreement’s term; (b) 10,000 additional fully-vested restricted shares granted and the stock option vested as to 10,000 additional
shares of common stock if our sales exceeded $25,000,000 combined for any two consecutive quarters or if our market capitalization exceeded
$75,000,000 for twenty-five (25) out of thirty (30) consecutive trading days anytime within the Audibert Consulting Agreement’s
term; (c) 15,000 additional fully-vested restricted shares granted and the stock option vested as to 20,000 additional shares if our sales
exceeded $37,500,000 combined for any two consecutive quarters or if our market capitalization exceeded $90,000,000 for twenty-five (25)
out of thirty (30) consecutive trading days anytime within the Audibert Consulting Agreement’s term; and (d) 25,000 additional fully-vested
restricted shares granted and the stock option vested as to 25,000 additional shares if our sales exceeded $45,000,000 combined for any
two consecutive quarters or if our market capitalization exceeded $180,000,000 for twenty-five (25) out of thirty (30) consecutive trading
days anytime within the Audibert Consulting Agreement’s term. “Sales” were determined by our audited or reviewed financial
statements and according to U.S. GAAP. Our “market capitalization” was defined as the closing stock price of our common stock
as reported by Nasdaq multiplied by the total shares of common stock outstanding as of 4:00 PM E.T. on the date that such closing stock
price was determined as reported by our transfer agent. All such grants were subject to standard forms of stock option or restricted stock
award agreements and the terms and conditions of the Plan. Pursuant to the Audibert Consulting Agreement, on December 2, 2021, the
Company granted a stock option to JCA to purchase up to 65,000 shares of common stock subject to the vesting conditions described above.
On March 11, 2022, the Compensation Committee determined that the performance conditions for the
vesting of the option as to a total of 20,000 shares of common stock and to the issuance of