Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 750

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 10
Chunk 750
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,000 for his service as Chief Executive Officer;

    ·
    Mr. Thomas will be eligible to receive incentive compensation of up to $41,000 in the form of cash and stock, at Mr. Thomas’ election; and

    ·
    Mr. Thomas is eligible to receive employment benefits as generally provided by our policies and benefit plans for employees.

Summary Compensation for Directors

During the year ended December 31, 2024, the award
of $43,000 of Common Stock was earned by each of our directors; however, the shares have yet to be issued.

 22 

Effective June 12, 2023, our board of directors approved
the following compensation for non-management directors:

    ·
    annual retainer of $43,000 for board membership, inclusive of all Board meeting and committee meeting attendance fees;

    ·
    annual retainer for service on the Audit Committee of $10,000;

    ·
    annual retainer for service as the Chairperson of any committee established by the board, other than the Audit Committee, of $5,000; and

    ·
    reimbursement for reasonable out-of-pocket expenses actually incurred in connection with participation and/or attendance of board and committee meetings.

The annual retainer fees for non-management director
and committee Chairpersons will be paid in one annual payment at the end of each fiscal year. Newly appointed directors and/or committee
Chairpersons will be paid on a pro rata basis in relation to time served during their first calendar quarter of service. Subject to approval
of the Board of Directors, a non-management director may receive payment of the annual retainer in restricted shares of common stock of
the Company, which will vest at the rate of 1/3 per year over a period of three years after the date of such grant.

Insider Trading Policy

Due to limited resources and the small number of our
management, we do not have an insider trading policy.

Policies and Practices Related to the Timing
of Grants of Certain Equity Awards

It is management’s duty to approve ordinary
course annual equity grants during a scheduled meeting held each year. At this meeting, management is to approve each named executive
officer’s annual equity award, if any. At this time, we do not currently anticipate granting stock options to any of our named executive
officers. We do not schedule our equity grants in anticipation of the release of material, non-public information, nor do we time the
release of material nonpublic information based