Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 191

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 1B
Chunk 191
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 believes such bonuses are
in the Company’s best interest, after analyzing our current business objectives and growth, if any, and the amount of revenue we
are able to generate each month, which revenue is a direct result of the actions and ability of such executives.

Long-Term, Stock Based Compensation

In order to attract, retain and motivate executive
talent necessary to support the Company’s long-term business strategy we may award our executives and any future executives with
long-term, stock-based compensation in the future, at the sole discretion of our Board of Directors.

30 

ITEM 12.
SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS.

The following table sets forth certain information,
as of September 26, 2025, with respect to the beneficial ownership of the outstanding common stock by (i) any holder of more than five
(5%) percent; (ii) each of the Company’s executive officers and directors; and (iii) the Company’s directors and executive
officers as a group. Except as otherwise indicated, each of the stockholders listed below has sole voting and investment power over the
shares beneficially owned.

    Name of Beneficial Owner
     
    Common Shares Beneficially Owned

    Percentage of Ownership of Common Stock (1)

    Jonathan Herzog (2)

    80,000,000

    45.6
    %
  
    Thomas Lapinski (3)

    20,200,000

    16.1
    %
  
    Roy Mansano (4)

    10,753,024

    8.6
    %
  
    Aharonoff Family Trust (5)

    12,500,000

    10.0
    %
  
    Shmuel Naparstek

    10,100,000

    8.0
    %
  
    All officers and directors as a group (2 persons)

    90,100,000

    51.3
    %

    (1)
    Based on 125,576,035 shares of common stock outstanding as of September 26, 2025, together with securities exercisable or convertible into shares of common stock within 60 days of September 26, 2025 for each stockholder. Under the rules of the Securities and Exchange Commission, a person is deemed to be the beneficial owner of a security if such person has or shares the power to