Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 27

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 27
---
5 and 2024. The weighted-average remaining contractual
term for the outstanding options is approximately 7 years as of March 31, 2025.

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.

20

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

A summary of restricted stock activity
under the 2021 Plan as of and for the three months ended March 31, 2025 is presented below:

    Restricted Stock 
    Time-Based 
  
    Outstanding at December 31, 2024 
     4,000 
  
    Granted 
     — 
  
    Vested 
     (4,000)
  
    Forfeited 
     — 
  
    Outstanding at March 31, 2025 
     — 

N.LOSS PER SHARE:

The following outstanding shares of
common stock equivalents were excluded from the computation of diluted net loss per share for the periods in which a net loss is presented
because their effect would have been anti-dilutive.

    March 31,  2025  
    March 31,  2024 
  
    Warrants 
     10,074,195  
     10,074,195 
  
    Stock options 
     1,223,667  
     864,167 

     11,297,862  
     10,938,362 

For the three months ended March 31,
2025 and 2024, as a result of the net losses in these periods, all warrants and stock options have been excluded from the calculation
of diluted earnings per share and, therefore, there was no difference in the weighted average number of common shares for basic and diluted
loss per share as the effect of all potentially dilutive shares outstanding was anti-dilutive.

O.SEGMENTS:

In its operation of the business, management,
including our chief operating decision maker, who is also