Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 444

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1
Chunk 444
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2018 Plan, “equity restructuring” means a nonreciprocal transaction between us and our stockholders, such
as a stock dividend, stock split, spin-off, rights offering or recapitalization through a large, nonrecurring cash dividend, that affects
the number or kind of shares (or other securities) or the share price of our Common Stock (or other securities) and causes a change in
the per share value of the common stock underlying outstanding stock-based awards granted under the 2018 Plan. In the event of a stock
split in connection with an offering, the administrator will proportionately adjust (i) the number of shares subject to any outstanding
award under the 2018 Plan, (ii) the exercise or grant price of any such awards, if applicable, and (iii) the aggregate number of shares
subject to the 2018 Plan.

Amendment
and Termination. Our board of directors or the compensation committee (with board approval) may terminate, amend or modify the 2018
Plan at any time and from time to time. However, we must generally obtain stockholder approval:

●
to increase the number of shares available under the 2018 Plan (other than in connection with certain corporate events, as described
above);

●
reduce the price per share of any outstanding option or SAR granted under the 2018 Plan;

●
cancel any option or SAR in exchange for cash or another award when the option or SAR price per share exceeds the fair market value of
the underlying shares; or

●
to the extent required by applicable law, rule or regulation (including any NASDAQ rule).

Termination.
Our board of directors may terminate the 2018 Plan at any time. No ISOs may be granted pursuant to the 2018 Plan after the 10th anniversary
of the effective date of the 2018 Plan, and no additional annual share increases to the 2018 Plan’s aggregate share limit will
occur from and after such anniversary. Any award that is outstanding on the termination date of the 2018 Plan will remain in force according
to the terms of the 2018 Plan and the applicable award agreement.

Director
Compensation 

The
following table sets forth certain information concerning compensation earned by the Company’s non-employee directors for services
rendered as a director during the year ended December 31, 2024:

Director
Compensation Table

    Name 
    Fees
    Earned or Paid in Cash