Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1559

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 7A
Chunk 1559
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 administrator. In
the event of various changes to the capitalization of our company, such as stock splits, stock dividends and similar
re-capitalizations, an appropriate adjustment will be made by the administrator to the number of shares covered by outstanding
awards or to the exercise price of such awards. The administrator generally has the power to accelerate the exercise or vesting
period of an award. The administrator is also permitted to include in the written agreement provisions that provide for certain
changes in the award in the event of a change of control of our company, including acceleration of vesting or payment of the value
of the award in cash or stock. Except as otherwise determined by the administrator at the date of grant, awards will generally not
be transferable, other than by will or the laws of descent and distribution. Prior to any award distribution, to the extent provided
by the terms of an award agreement and subject to the discretion of the administrator, a participant may satisfy any employee
withholding tax requirements relating to the exercise or acquisition of common stock under an award by tendering a cash payment
authorizing the Company to withhold shares of common stock otherwise issuable to the participant as a result of the exercise or
acquisition of common stock under the award (in addition to the Company’s right to withhold from any compensation paid to the
participant by the Company). The board of directors has the authority, at any time, to discontinue the granting of awards. The board
also has the authority to alter or amend the Plan or any outstanding award or may terminate the Plan as to further grants, provided
that no amendment to the Plan will be made, without the approval of our stockholders, to the extent that such approval is required
by law or the rules of an applicable securities exchange, or such alteration or amendment would change the number of shares
available under the Plan or change the persons eligible for awards under the Plan. No amendment to an outstanding award made under
the Plan that would adversely affect the award may be made without the consent of the holder of such award.

72

Clawback Policy

On November 2, 2023, our board of directors adopted
the Company’s Clawback Policy in accordance with applicable Nasdaq rules (the “Clawback Policy”). The Clawback Policy provides
that we will recover reasonably promptly the amount of erroneously awarded incentive-based compensation to any current or former executive
officers in the event that the Company is required to prepare an accounting restatement due to the material