Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 533

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 3
Chunk 533
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 a person, shares
that may be acquired by such person within 60 days of February 6, 2025are counted as outstanding, while these shares are not counted as
outstanding for computing the percentage ownership of any other person. Except as otherwise indicated, the persons listed below have sole
voting and investment power with respect to all shares of our common stock owned by them, except to the extent such power may be shared
with a spouse. Unless otherwise noted, the address of each person below is c/o Kaival Brands Innovations Group, Inc., 4460 Old Dixie Highway,
Grant-Valkaria, Florida 32949. Name and Address(1)

    Number of 

    Shares of Kaival 

    Common Stock 

    Beneficially 
    Percentage of
  
    Name and Address(1) 
    Owned(2) 
    Class(2)
  
    Eric Morris(3) 
     778,401  
     6.7%
  
    David Worner(4) 
     530,952  
     4.6%
  
    Mark Thoenes(5) 
     634,604  
     5.5%
  
    Ashesh Modi(6) 
     523,000  
     4.5%
  
    Ketankumar Patel(7) 
     523,000  
     4.5%
  
    Current Executive Officers and Directors as a Group (5 Persons) 
     2,989,957  
     25.9%
  
    Kaival Holdings, LLC(8)(9) 
     1,569,514  
     13.6%
  
    Bidi Vapor LLC(10) 
     1,400,144  
     12.1%

* Less than
1.0%

(1) The address
for each person listed above is 4460 Old Dixie Highway, Grant-Valkaria, Florida 32949, unless otherwise indicated.

(2)
Applicable percentage of ownership is based on 11,542,302 shares of common stock outstanding as of February 6, 2025.

Beneficial ownership is determined
in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities. Shares of common
stock that are currently exercisable within 60 days of February 6, 2025, are deemed to be beneficially owned by the person holding