Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 318

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 318
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 warrants and rights  
    Number
    of securities remaining available for future issuance under equity compensation plans (excluding securities reflected in column (a)) 

    (a)  
    (b)  
    (c) 
  
    Equity compensation plans approved
    by security holders 
     593,470  
    $2.39  
     415,530 
  
    Equity compensation plans
    not approved by security holders (1) 
     182,735  
     3.76  
     N/A 
  
    Total 
     776,205  
    $2.71  
     415,530 

(1)
Represents warrants issued on June 21, 2023 to the underwriter in the Company’s IPO, and warrants issued on June 26, 2024
to underwriter in our follow-on public offering.

2022
Equity Incentive Plan

General

Our
board of directors and stockholders adopted the 2022 Equity Incentive Plan as of January 1, 2022, which provides for the grant of incentive
stock options and non-qualified stock options to purchase shares of our common stock and other types of awards. The general purpose of
the 2022 Equity Incentive Plan is to provide a means whereby eligible employees, officers, non-employee directors and other individual
service providers develop a sense of proprietorship and personal involvement in our development and financial success, and to encourage
them to devote their best efforts to our business, thereby advancing our interests and the interests of our stockholders. By means of
the 2022 Equity Incentive Plan, we seek to retain the services of such eligible persons and to provide incentives for such persons to
exert maximum efforts for our success and the success of our subsidiaries.

Description
of the 2022 Equity Incentive Plan

The
following description of the principal terms of the 2022 Equity Incentive Plan is a summary and is qualified in its entirety by the full
text of the 2022 Equity Incentive Plan.

Administration.
In general, the 2022 Equity Incentive Plan is administered by the Compensation Committee of the board of directors. The Compensation
Committee determines the persons to whom options to purchase shares of common stock, stock appreciation rights (or “SARs”),
restricted stock units, restricted or unrestricted shares of common stock, performance shares, performance units, incentive bonus awards