Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 360

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1A
Chunk 360
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trinsic Value 
  
    Outstanding at December 31, 2022 
     1,505,333  
    $4.11  
    $— 
  
    Granted 
     76,500  
     1.66  
     — 
  
    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