Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 538

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 7A
Chunk 538
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    Grant Date Fair Value of Stock
  
    Name
     
    Grant Date
     
    Threshold
     
    Target
     
    Maximum
     
    Threshold
     
    Target
     
    Maximum

    Stocks or Units

    Underlying Options

    Option Award($)
     
    and Options ($)

    Xiaobin Liu,
    CEO
     
    —
     
     —
     
     —
     
     —
     
     —
     
     —
     
     —
     
    —
     
     —
     
    —
     
    —

    Min Li,
    CFO
     
    —
     
     —
     
     —
     
     —
     
     —
     
     —
     
     —
     
    —
     
    —
     
    —
     
    —

    Naihui Miao,
    COO
     
    —
     
     —
     
     —
     
     —
     
     —
     
     —
     
     —
     
    —
     
    —
     
    —
     
    —

Narrative Discussion

The following employment agreements were entered into by
the Company and the named executive officers:

Xiaobin Liu

The employment
agreement for Xiaobin Liu to serve as Chief Executive Officer of the Company was renewed on June 1, 2022 with a term of three years. Xiaobin
Liu is also a member of the Board of Directors. Pursuant to the agreement, Mr. Liu’s service shall be compensated in the Company's
shares only under the Company’s equity incentive plan.

Min Li

The employment
agreement for Min Li to serve as Chief Financial Officer of the Company was renewed on January 1, 2025 with a term of one year. Pursuant
to the agreement, Mr. Li shall receive annual cash compensation equal to approximately $18,500 subject to changes in the foreign exchange
rate and market conditions and be compensated in the Company’s shares under the Company’s equity incentive plan.

Naihui Miao

The employment
agreement for Naihui Miao to serve as Chief Operating Officer of the Company was renewed on June 1, 202