Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 1148

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 5
Chunk 1148
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 less than 100% of the fair market
value of a share of our common stock on the date of grant, as determined by the Compensation Committee. The maximum term of any SAR granted
under the 2022 Equity Incentive Plan is ten years from the date of grant. Generally, each SAR will entitle a participant upon exercise
to an amount equal to:

    ●
    the excess of the fair market value on the
    exercise date of one share of our common stock over the exercise price, multiplied by

    ●
    the number of shares of common stock covered
    by the SAR.

 24 

Payment
may be made in shares of our common stock, in cash, or partly in common stock and partly in cash, all as determined by the Compensation
Committee.

Restricted
Stock and Restricted Stock Units. The Compensation Committee may award restricted common stock and/or restricted stock units
under the 2022 Equity Incentive Plan. Restricted stock awards consist of shares of stock that are transferred to a participant subject
to restrictions that may result in forfeiture if specified conditions are not satisfied. Restricted stock units confer the right to receive
shares of our common stock, cash, or a combination of shares and cash, at a future date upon or following the attainment of certain conditions
specified by the Compensation Committee. The restrictions and conditions applicable to each award of restricted stock or restricted stock
units may include performance-based conditions. Dividends with respect to restricted stock may be paid to the holder of the shares as
and when dividends are paid to stockholders or at the time that the restricted stock vests, as determined by the Compensation Committee.
Dividend equivalent amounts may be paid with respect to restricted stock units either when cash dividends are paid to stockholders or
when the units vest. Unless the Compensation Committee determines otherwise, holders of restricted stock will have the right to vote
the shares.

Performance
Shares and Performance Units. The Compensation Committee may award performance shares and/or performance units under the 2022
Equity Incentive Plan. Performance shares and performance units are awards, denominated in either shares or U.S. dollars, which are earned
during a specified performance period subject to the attainment of performance criteria, as established by the Compensation Committee.
The Compensation Committee will determine the restrictions and conditions applicable to each award of performance shares and performance
units.

Incentive
Bonuses. The Compensation Committee may grant incentive bonus awards under the 2022 Equity Incentive Plan from time to time