Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1434

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 7
Chunk 1434
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 less than the market price of the common stock on the date of grant. Stock options granted may be either Incentive
Stock Options or Non-qualified Stock Options.

Stock Appreciation Rights, or SARs, may be granted
alone or in tandem with options, and have an economic value similar to that of options. When a SAR for a particular number of shares is
exercised, the holder receives a payment equal to the difference between the fair market value of the shares on the date of exercise and
the exercise price of the shares under the SAR. The exercise price for SARs is normally the market price of the shares on the date the
SAR is granted. Under the Plan, holders of SARs may receive this payment — the appreciation value — either in cash or shares
of common stock valued at the fair market value on the date of exercise. The form of payment will be determined by the administrator.

Restricted Awards are awards of shares of common
stock or rights to shares of common stock to participants at no cost. Restricted Stock (as defined by the Plan) represents issued and
outstanding shares of common stock which may be subject to vesting criteria under the terms of the award within the discretion of the
administrator. Restricted Stock Units (as defined by the Plan) represent the right to receive shares of common stock which may be subject
to satisfaction of vesting criteria under the terms of the award within the discretion of the administrator. Restricted Stock and the
rights under Restricted Stock Units are forfeitable and non-transferable until they vest. The vesting date or dates and other conditions
for vesting are established when the shares are awarded.

The Plan also provides for Performance Compensation
Awards, representing the right to receive a payment, which may be in the form of cash, shares of common stock, or a combination, based
on the attainment of pre-established goals.

69

Principal Features of the Plan

Purposes of the Plan: The
purposes of the Plan are (a) to enable the Company and any affiliate company to attract and retain the types of employees, consultants
and directors who will contribute to the Company’s long-term success; (b) provide incentives that align the interests of employees,
consultants and directors with those of the stockholders of the Company; and (c) promote the success of the Company’s business.

Administration of the Plan:
The Plan is administered by the Compensation Committee. In this summary, we refer to the Compensation Committee as the
administrator. Among other things