Company: SWAGW
Filing Date: 2025-02-11
Form Type: 10-Q
Source: 0001213900-25-011872
Chunk: 30

Company: Stran & Company, Inc.
Filing Date: 2025-02-11
Form: 10-Q
Item: Part I, Item 1
Chunk 30
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 below:

    Options 
    Shares  
    Weighted
    Average
    Exercise
    Price  
    Aggregate
    Intrinsic
    Value 
  
    Outstanding at January 1, 2024 
     1,466,062  
    $3.98  
    $   — 
  
    Granted 
     —  
     —  
     — 
  
    Forfeited or expired and other adjustments 
     (51,563) 
     4.11  
     — 
  
    Outstanding at March 31, 2024 
     1,414,499  
    $4.15  
    $— 
  
    Vested and exercisable at March 31, 2024 
     864,167  
    $4.04  
    $— 

The Company did not issue any
options during the three months ended March 31, 2024. The weighted-average grant-date fair value of options granted during the three
months ended March 31, 2023 was $1.77. The weighted-average remaining contractual term for the outstanding options is approximately 8
years as of March 31, 2024.

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. 

23

A summary of restricted stock
activity under the 2021 Plan as of and for the three months ended March 31, 2024 is presented below:

    Restricted Stock 
    Time-Based 
  
    Outstanding at December 31, 2023 
     15,736 
  
    Granted 
     54,086 
  
    Vested 
     (50,086)
  
    Forfeited 
     (83)
  
    Outstanding at March 31, 2024 
     19,653 

O.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