Company: BSFC
Filing Date: 2025-02-10
Form Type: POS AM
Source: 0001493152-25-005479
Chunk: 94

Company: Blue Star Foods Corp.
Filing Date: 2025-02-10
Form: POS AM
Chunk 94
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2) | Shares                                                                                                                            
 subject to the option vest in equal quarterly installments of 25 shares during the first year of the grant.                       |
| (3) | Shares                                                                                                                            
 subject to the option vest in equal monthly installments of 24 shares for the term of the option. These options were forfeited on 
 May 28, 2024 upon the resignation of the Chief Financial Officer.                                                                 |
| (4) | Shares                                                                                                                            
 subject to the option vest in equal monthly installments of 1 shares for the term of the option.                                  |
| (5) | Shares                                                                                                                            
 subject to the option vest as to 50 shares on each of January 15, 2020, January 15, 2021, January 15, 2022, January 15, 2023 and  
 January 15, 2024.                                                                                                                 |

2018 Equity Incentive Award Plan

In connection with the Merger, we adopted the 2018 Equity Incentive Award Plan (the “2018 Plan”), which was effective immediately prior to the consummation of the Merger. The principal purpose of the 2018 Plan is to attract, retain and motivate selected employees, consultants and non-employee directors through the granting of stock-based compensation awards and cash-based performance bonus awards.

Under the 2018 Plan, we are authorized to issue incentive stock options intended to qualify under Section 422 of the Code and non-qualified stock options. The 2018 Plan is administered by our board of directors. In connection with the Merger, we issued options to purchase an aggregate of 6,240 shares of common stock to certain executive officers and directors (3,120 of which were subsequently forfeited unexercised).

| 60 |

Share Reserve. 7,500 shares of common stock are reserved for issuance under the 2018 Plan pursuant to a variety of stock-based compensation awards, including stock options, stock appreciation rights (“SARs”), restricted stock awards, restricted stock unit awards, deferred stock awards, dividend equivalent awards, stock payment awards, performance awards and other stock-based awards.

● to the extent that an award terminates, expires or lapses for any reason or an award is settled in cash without the delivery of shares, any shares subject to the award at such time will be available for future grants under the 2018 Plan;

● to the extent shares are tendered or withheld to satisfy the grant, exercise price or tax withholding obligation with