Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 528

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 3
Chunk 528
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 to
the Consulting Agreement (as defined below). See “Narrative Discussion” for additional information.

Narrative Discussion

The following is a narrative discussion
of the material information that we believe is necessary to understand disclosed in the foregoing Summary Compensation Table. The following
narrative disclosure is separated into sections, with a separate section for each of our named executive officers.

52

Nirajkumar Patel

During the fiscal year ended October 31, 2024, we paid a base salary of approximately
$241,499 to Nirajkumar Patel, our former CEO, Chief Science & Regulatory Officer, compared to a base salary of approximately $276,000
for the fiscal year ended October 31, 2023.

We issued the following stock compensation
to Mr. Patel during fiscal years 2023 and 2024:

    Vesting and/or Issuance Date   
    Number of Shares of our Common Stock 
    Price Per Share 
    Aggregate Value
  
     2/6/2023 
     23,810  
     15.33  
     365,007 

Eric Mosser

During the fiscal year ended October
31, 2024, we paid a base salary of approximately $129,549 to Eric Mosser, our former CEO, compared to a base salary of approximately $300,000
for the fiscal year ended October 31, 2023.

We issued the following stock compensation
to Mr. Mosser during fiscal years 2023 and 2024:

    Vesting and/or Issuance Date   
    Number of Shares of our Common Stock 
    Price Per Share 
    Aggregate Value
  
    8/1/2023 
     27,004  
     12.41  
     335,120 
  
    2/6/2023 
     23,810  
     15.33  
     365,007 

Mark Thoenes

During the fiscal year ended October
31, 2024, we paid a base salary of approximately $74,583 to Mark Thoenes, our Interim CEO, compared to a base salary of approximately
$298,050 for the fiscal year ended October 31, 2023.

We issued the following stock compensation
to Mr. Thoenes during fiscal years 2023 and 2024:

    Vesting and/or Issuance Date   
    Number of Shares of our Common