Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 72

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 8
Chunk 72
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(1)
On February 22, 2024, we granted Mr. Israel an option to purchase 30,000 shares of common stock at an exercise price of $1.92 per
share, exercisable over a 10-year term. The estimated value using the Black-Scholes Pricing Model, based on a volatility rate of 41%
and a call option value of $1.1407, was $34,221.

(2)
On February 22, 2024, we granted Mr. Jones an option to purchase 34,166 shares of common stock at an exercise price of $1.92 per
share, exercisable over a 10-year term. The estimated value using the Black-Scholes Pricing Model, based on a volatility rate of 41%
and a call option value of $1.1407, was $38,974.

(3)
On February 22, 2024, we granted Mr. Somerville an option to purchase 15,000 shares of common stock at an exercise price of $1.92
per share, exercisable over a 10-year term. The estimated value using the Black-Scholes Pricing Model, based on a volatility rate of
41% and a call option value of $1.1407, was $17,111.

Directors
are entitled to reimbursement for reasonable travel and other out-of-pocket expenses incurred in connection with attendance at meetings
of our board of directors.

ITEM
12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

The
following table sets forth, as of March 31, 2025, certain information with regard to the record and beneficial ownership of the Company’s
common stock by (i) each person known to the Company to be the record or beneficial owner of 5% or more of the Company’s common
stock, (ii) each director of the Company, (iii) each of the named executive officers, and (iv) all executive officers and directors of
the Company as a group. The address of each of our directors and executive officers named in the table is c/o BranchOut Food Inc., 205
SE Davis Ave., Suite C, Bend, Oregon 97702:

    Common
    Stock 
  
    Name
    of Beneficial Owner(1) 
    Number
    of Shares  
    %
    of Class(2) 
  
    Officers and Directors: