Company: JWEL
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041556
Chunk: 163

Company: Jowell Global Ltd.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 163
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25% or 20,000 RSUs vested on
September 30, 2022. The Company follows ASC 718-10-35-8 Stock compensation - awards with graded vesting features to recognize compensation
cost on a straight-line basis. The RSUs granted to the then Chief Financial Officer resulted in $201,200 compensation cost for the year
ended December 31, 2021 and $603,600 compensation cost for the year ended December 31, 2022, which were charged to general and administrative
expenses.

F-23

On April 11, 2022, the Company granted500,500shares
as stock awards to its employees, officers and directors under the Company’s 2021 Omnibus Equity Plan, which were vested immediately.
The fair value of these ordinary shares was $1,036,035based on the closing stock price $2.07on April 11, 2022.

On June 30, 2022, the Company authorized the grant
of Restricted Stock Units (“ RSU”) of120,000ordinary shares to the Company’s then Chief Executive Officer and39,000ordinary shares to the Company’s Vice President under the Company’s 2021 Omnibus Equity Plan for service period from
July 1, 2022 to June 30, 2023, which were valued based on the closing stock price of $2.62on June 30, 2022, the grant date. The
RSUs granted to the then Chief Executive Officer and Vice President have a graded vesting schedule with 25% or 39,750 RSUs vested on June
30, 2022, 25% or 39,750 RSUs vested on October 1, 2022, 25% or 39,750 RSUs vested on January 1, 2023, and the remaining 25% or 39,750
RSUs vested on April 1, 2023. The Company follows ASC 718-10-35-8 Stock compensation - awards with graded vesting features to recognize
compensation cost on a straight-line basis. The last tranche of30,000RSUs granted to the then Chief Executive Officer was forfeited
due to his resignation as the Chief Executive Officer effective on March 1, 2023. The RSUs granted to the then Chief Executive Officer
and Vice President resulted in $208,290compensation cost for the year ended December 31, 2022