Company: SWAGW
Filing Date: 2025-03-07
Form Type: 10-Q
Source: 0001213900-25-021742
Chunk: 33

Company: Stran & Company, Inc.
Filing Date: 2025-03-07
Form: 10-Q
Item: Part II, Item 8
Chunk 33
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 of Shares that May Yet be Purchased Under the Plans or Programs

    January 1, 2023 - September 30, 2023

    19,502

    $
    1.22

    1,797,159

    $
    6,643,289

O.STOCK-BASED COMPENSATION:

In November 2021, the Board of Directors
adopted the Amended and Restated 2021 Equity Incentive Plan (the “2021 Plan”) which provides for the granting of non-qualified
stock options and restricted stock to the Company’s employees, officers, directors, and outside consultants to purchase shares of
the Company’s common stock. As of September 30, 2024, the number of shares of common stock available for issuance under the
2021 Plan is 1,074,706 shares of common stock.

Stock-based compensation expense included
the following components:

    Three Months Ended
 September 30,  
    Nine Months Ended
 September 30, 

    2024  
    2023  
    2024  
    2023 

    (Restated)  
       
    (Restated) 
  
    Stock options 
    $3  
    $6  
    $19  
    $31 
  
    Restricted stock 
     —  
     —  
     154  
     112 

    $3  
    $6  
    $173  
    $143 

All stock-based compensation expense
is recorded in General and administrative expense in the Statements of Operations.

Non-Qualified Stock Options

The fair value of options is estimated
on the date of grant using the Black-Scholes option pricing model using the assumptions noted in the table below. The fair value is amortized
as compensation cost on a straight-line basis over the requisite service period of the awards, which is generally the vesting period.
The Company uses historical data on employee turnover and terminations to estimate the percentage of options that will ultimately be exercised.
Expected volatility is based on historical volatility from a representative sample of publicly traded companies. The expected term represents
the period of time that the options are expected to be outstanding. The risk-free interest rate is estimated using the rate of return
on U.S. Treasury Notes with a life that approximates the expected life of the option. Forfeitures are estimated at the time of