Company: SWAGW
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001213900-25-044222
Chunk: 262

Company: Stran & Company, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part II, Item 8
Chunk 262
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376,333

    $
    4.03

    $
    —

    Granted

    15,000

    1.48

    —

    Forfeited or expired and other adjustments

    (3,334)

    3.75

    —

    Outstanding at March 31, 2025

    1,387,999

    $
    4.00

    $
    —

    Vested and exercisable at March 31, 2025

    1,223,667

    $
    4.04

    $
    —

The Company did not issue any options
during the three months ended March 31, 2025 and 2024. The weighted-average remaining contractual
term for the outstanding options is approximately 7 years as of March 31, 2025.

Restricted Stock:

Restricted stock consists of time-based
restricted stock units (RSUs) and performance-based restricted stock units (PSUs). RSUs granted under the 2021 Plan generally vest over
3 to 4 years, based on continued employment, and are settled upon vesting with shares of the Company’s common stock on a one-for-one
basis. PSUs granted under the 2021 Plan are issued and vest immediately as various performance goals and targets are achieved.

20

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except share and per share amounts)

A summary of restricted stock activity
under the 2021 Plan as of and for the three months ended March 31, 2025 is presented below:

    Restricted Stock 
    Time-Based 
  
    Outstanding at December 31, 2024 
     4,000 
  
    Granted 
     — 
  
    Vested 
     (4,000)
  
    Forfeited 
     — 
  
    Outstanding at March 31, 2025 
     — 

N.LOSS PER SHARE:

The following outstanding shares of
common stock equivalents were excluded from the computation of diluted net loss per share for the periods in which a net loss is presented
because their effect would have been anti-dilutive.

    March 31,  2025  
    March 31,  2024 
  
    Warrants 
     10,074,195  
     10,074,195 
  
    Stock options