Company: BOF
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021655
Chunk: 95

Company: BranchOut Food Inc.
Filing Date: 2025-11-12
Form: 10-Q
Item: Item 8
Chunk 95
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,000 shares issued to each of the Company’s CEO and CFO in consideration of their services as directors.
The options vest monthly over six months following the issuance date. The aggregate estimated value using the plain vanilla Black-Scholes
Pricing Model, based on a volatility rate of 46% and a call option value of $0.8796, and an expected term of 5 years, was $79,170.

    23

On
June 12, 2025 the Company granted options to purchase 610,000 shares of the Company’s common stock having an exercise price of
$2.06 per share, exercisable over a 10-year term, to employees for services performed. The grant includes options to purchase 180,000
and 20,000 shares to the Company CEO and CFO, respectively. The options vest in 36 equal monthly installments over the three-year period
following the issuance date. The aggregate estimated value using the plain vanilla Black-Scholes Pricing Model, based on a volatility
rate of 45% and a call option value of $1.0462, and an expected term of 6.5 years, was $638,158.

Schedule
of Stock Option Activity 

    Number of Options  
    Weighted Average Grant Date Fair Value  
    Aggregate Intrinsic Value 
  
    Outstanding at December 31, 2024 
     593,470  
    $52,821  

    Granted 
     740,000  
     110,140  

    Exercised 
     -  
     -  

    Forfeited 
     -  
     -  

    Outstanding at September 30, 2025 
     1,333,470  
    $84,630  
    $1,425,956 

    Expected to vest 
     1,333,470  
    $84,630  
    $1,425,956 

Options
are being expensed over the respective vesting period, resulting in $177,257 of stock-based compensation expense during the nine months
ended September 30, 2025. As of September 30, 2025, a total of $613,672 of unamortized expenses are expected to be expensed over the
remaining vesting period.

Note
15 – Common Stock Warrants

Warrants
to purchase a total of 2,074,202