Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1791

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 9
Chunk 1791
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 within the discretion of the
administrator. Restricted Stock Units (as defined by the Plan) represent the right to receive shares of common stock which may be subject
to satisfaction of vesting criteria under the terms of the award within the discretion of the administrator. Restricted Stock and the
rights under Restricted Stock Units are forfeitable and non-transferable until they vest. The vesting date or dates and other conditions
for vesting are established when the shares are awarded.

The Plan also provides for Performance Compensation
Awards, representing the right to receive a payment, which may be in the form of cash, shares of common stock, or a combination, based
on the attainment of pre-established goals.

69

Principal Features of the Plan

Purposes of the Plan: The
purposes of the Plan are (a) to enable the Company and any affiliate company to attract and retain the types of employees, consultants
and directors who will contribute to the Company’s long-term success; (b) provide incentives that align the interests of employees,
consultants and directors with those of the stockholders of the Company; and (c) promote the success of the Company’s business.

Administration of the Plan:
The Plan is administered by the Compensation Committee. In this summary, we refer to the Compensation Committee as the
administrator. Among other things, the administrator has the authority to select persons who will receive awards, determine the
types of awards and the number of shares to be covered by awards, and to establish the terms, conditions, performance criteria,
restrictions and other provisions of awards. The administrator has authority to establish, amend and rescind rules and regulations
relating to the Plan.

Eligible Recipients: Persons
eligible to receive awards under the Plan are employees (including officers or directors who are also treated as employees); consultants,
i.e., individuals engaged to provide consulting or advisory services to the Company; and directors.

Shares Available Under the
Plan: The maximum number of shares of our common stock that may be delivered to participants under the Plan is 3,000,000,
subject to adjustment for certain corporate changes affecting the shares, such as stock splits. Shares subject to an award under the
Plan which is canceled, forfeited or expires again become available for grants under the Plan. However, shares tendered in payment
of an option, delivered or withheld by the Company to satisfy any tax withholding obligation, or covered by a stock-settled SAR or
other awards that were not issued upon the settlement of the award