Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 51

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 51
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 exercisable over a 10ten-year
period to an employee. The estimated value using the plain vanilla Black-Scholes Pricing Model, based on a volatility rate of 50%
and a call option value of $2.0249, and an expected term of 5 years,
was $32,399.
The options were expensed as stock-based compensation expense during the year ended December 31, 2023.

The
following is a summary of information about the Stock Options outstanding at December 31, 2024.

 Schedule of Underlying Stock Options Outstanding

    Shares Underlying 
  
    Shares
    Underlying Options Outstanding 
    Options
    Exercisable 

    Weighted  

    Shares  
    Average  
    Weighted  
    Shares  
    Weighted 

    Underlying  
    Remaining  
    Average  
    Underlying  
    Average 
  
    Range of 
    Options  
    Contractual  
    Exercise  
    Options  
    Exercise 
  
    Exercise
    Prices 
    Outstanding  
    Life  
    Price  
    Exercisable  
    Price 
  
    $
    1.60 –
    6.00  
     593,470  
     8.4
                                            years  
    $2.39  
     564,935  
    $2.58 

The
following is a summary of activity of outstanding stock options:

 Schedule
of Activity of Outstanding Stock Options

    Weighted 

    Average 

    Number  
    Exercise 

    of
    Shares  
    Prices 
  
    Balance, December 31, 2022 
     108,404  
    $4.125 
  
    Options granted 
     118,500  
     3.194 
  
    Options canceled 
     (57,600) 
     (4.125)
  
    Balance, December 31, 2023 
     169,304  
     3.639 
  
    Options granted 
     424,166  
     1.95 
  
    Balance, December
    31, 2024 
     593,470  
    $2.39 

    Exercisable, December
    31, 2024 
     564,935  
    $2.58 

Note