Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 49

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 49
---
 over a 10-year
term, to a new employee. The options will vest monthly over three years from the date of grant. The aggregate estimated value using
the plain vanilla Black-Scholes Pricing Model, based on a volatility rate of 41%
and a call option value of $1.1806,
and an expected term of 6.5 years, was $35,419.
The options are being expensed over the vesting period, resulting in $7,872
of stock-based compensation expense during the year ended December 31, 2024. As of December 31, 2024, a total of $27,547
of unamortized expenses are expected to be expensed over the vesting period.

On
February 22, 2024, the Company granted options to purchase an aggregate 315,000
shares of the Company’s common stock, having an exercise price of $1.92
per share, exercisable over a 10-year
term, to a total of six employees, including options to purchase 140,000
and 75,000
shares issued to the Company’s CEO and CFO, respectively. The options vested immediately. The aggregate estimated value using
the plain vanilla Black-Scholes Pricing Model, based on a volatility rate of 41%
and a call option value of $0.8581, and an expected term of 5.5 years,
was $270,296.

On
February 22, 2024, the Company also granted options to purchase an aggregate 79,166
shares of the Company’s common stock, having an exercise price of $1.92
per share, exercisable over a 10-year
term, to a total of three of the Company’s directors. The options vested immediately. The aggregate estimated value using the
plain vanilla Black-Scholes Pricing Model, based on a volatility rate of 41%
and a call option value of $1.1407, and an expected term of 5.5 years,
was $90,306.

On
October 24, 2023, the Company granted options to purchase an aggregate 42,500
shares of the Company’s common stock, having an exercise price of $1.60
per share, exercisable over a 10-year
term, to a total of four employees. The options will vest one-year from the date of grant. The estimated value using the plain
vanilla Black-Scholes Pricing