Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 354

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 1B
Chunk 354
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530,952  
     4.6%
  
    Mark Thoenes(5) 
     634,604  
     5.5%
  
    Ashesh Modi(6) 
     523,000  
     4.5%
  
    Ketankumar Patel(7) 
     523,000  
     4.5%
  
    Current Executive Officers and Directors as a Group (5 Persons) 
     2,989,957  
     25.9%
  
    Kaival Holdings, LLC(8)(9) 
     1,569,514  
     13.6%
  
    Bidi Vapor LLC(10) 
     1,400,144  
     12.1%

* Less than
1.0%

(1) The address
for each person listed above is 4460 Old Dixie Highway, Grant-Valkaria, Florida 32949, unless otherwise indicated.

(2)
Applicable percentage of ownership is based on 11,542,302 shares of common stock outstanding as of February 6, 2025.

Beneficial ownership is determined
in accordance with the rules of the SEC and generally includes voting or investment power with respect to securities. Shares of common
stock that are currently exercisable within 60 days of February 6, 2025, are deemed to be beneficially owned by the person holding such
securities for the purpose of computing the percentage of ownership of such person but are not treated as outstanding for the purpose
of computing the percentage ownership of any person.

               (3) Eric Morris serves as our Interim Chief
Financial Officer. Includes approximately 2,381 shares of our common stock issuable upon the exercise of vested options.

(4) David
Worner serves as a member of our board. Includes approximately 10,952 shares of our common stock issuable upon the exercise of vested
options.

(5) Mark
Thoenes serves as a member of our board. Includes approximately 14,524 shares of our common stock issuable upon the exercise of vested
options.

(6) Includes
3,000 shares underlying vested options.

(7) Includes
3,000 shares underlying vested options.

(8)
KDMM Trust I is the sole voting member of Kaival Holdings, LLC and Ankitaben Patel, as trustee of KDMM Trust I, has voting control
over the Kaival shares owned