Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 1894

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 8
Chunk 1894
---
4.
  
    10.
    Three-year
    3 option to purchase 1,030 shares of common stock at an exercise price of $17.50, which vest in equal monthly installments during
    the term of the option, were issued to an employee during the year ended December 31, 2023.

    F-30

The
following table summarizes the assumptions used to estimate the fair value of the stock options granted for the years ended December
31, 2024 and 2023:

 Schedule
of Fair Value of Stock Options

    2024  
    2023 
  
    Expected
    Volatility 
     -% 
     35%
                                            – 45 % 
  
    Risk
    Free Interest Rate 
     -% 
     2.87%
                                            – 4.72 % 
  
    Expected
    life of options 
     -  
     3.0
                                            – 5.0   

On
August 3, 2023, the Company granted an officer a three-year 3 option to purchase 864 shares of common stock at an exercise price of
$40.00, which vest in equal monthly installments during the term of the option.

On
October 1, 2023, the Company granted an employee a three-year 3 option to purchase 1,030 shares of common stock at an exercise price
of $18.00, which vest in equal monthly installments during the term of the option.

Under
the Black-Scholes option pricing model, the fair value of the 864 options and 1,030 options granted during the year ended December 31,
2023 is estimated at $12,261 and $5,489, respectively, on the date of grant using the following assumptions: stock price of $40.00 and
$18.00 at the grant date, exercise price of the option, option term, volatility rate of 45.44% and 35.97% and risk-free interest rate
of 4.58% and 4.72%, respectively. The unrecognized portion of the expense remaining at December 31, 2024, is $0 and $3,131, respectively,
which is expected to be recognized to expense over a period of two years.

The
following table represents option activity for the years ended December 31, 2024 and 2023:

 Schedule
of Option Activity

    Number