Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2709

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 15
Chunk 2709
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    Forfeited or expired and other adjustments 
     (115,771) 
     4.13  
     — 
  
    Outstanding at December 31, 2023 
     1,466,062  
    $3.98  
    $— 
  
    Granted 
     —  
     —  
     — 
  
    Forfeited or expired and other adjustments 
     (89,729) 
     3.54  
     — 
  
    Outstanding at December 31, 2024 
     1,376,333  
    $4.03  
    $— 
  
    Vested and exercisable at December 31, 2024 
     1,161,334  
    $4.07  
    $— 

The Company did not issue any options
during the year ended December 31, 2024. The weighted-average grant-date fair value of options granted during the year ended December
31, 2023 was $1.54. The weighted-average remaining contractual term for the outstanding options
is approximately 7 years as of December 31, 2024.

Restricted Stock:

Restricted stock consists of time-based
restricted stock units (RSUs) and performance-based restricted stock units (PSUs). RSUs granted under the 2021 Plan generally vest over
3 to 4 years, based on continued employment, and are settled upon vesting with shares of the Company’s common stock on a one-for-one
basis. PSUs granted under the 2021 Plan are issued and vest immediately as various performance goals and targets are achieved.

A summary of restricted stock activity
under the 2021 Plan as of and for the year ended December 31, 2024 and 2023 is presented below:

    Restricted Stock 
    Time-Based 
  
    Outstanding at December 31, 2022 
     96,733 
  
    Granted 
     80,400 
  
    Vested 
     (93,362)
  
    Forfeited 
     (68,035)
  
    Outstanding at December 31, 2023 
     15,736 
  
    Granted 
     54,086 
  
    Vested 
     (65,407)
  
    Forfeited 
     (415)
  
    Outstanding at December 31, 2024 
     4,000