Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 797

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 7
Chunk 797
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     Barry M. Hopkins (5) 
     25,000  
     0  
     25,000 
  
    David Worner 
     99,167  
     36,071  
     135,238 
  
    Mark Thoenes 
     26,211  
     36,071  
     62,282 
  
    Ashesh Modi (6) 
     26,111  
     21,643  
     47,754 
  
     Ketankumar Patel (7) 
     26,111  
     21,643  
     47,754 

(1)

Mr.
Patel is a named executive officer and, accordingly, his compensation is included in the “Summary Compensation Table” above.
Mr. Patel did not receive any compensation for their service as a director for the fiscal year ended October 31, 2024. Mr. Patel passed
away on September 7, 2024.

(2)

Mr.
Brooks resigned from the Board on February 22, 2024.

(3)

Mr.
Chuang resigned from the Board on February 26, 2024.

(4)

Mr. Cassidy resigned from the Board
on January 25, 2024.

(5)
Mr. Hopkins resigned from the Board
on February 22, 2024

(6)
Mr. Modi was appointed to the Board
on April 23, 2024.

(7)
Mr. Patel was appointed to the
Board on April 23, 2024.

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

Securities Authorized for Issuance Under Equity Compensation Plans

As of October 31, 2024, there
were no outstanding equity awards issued under our Incentive Plan.

Stock Option Plans

On May 28, 2020, our Board adopted
the Incentive Plan. The following is a summary of the principal features of the Incentive Plan. The summary of the Incentive Plan does
not purport to be complete and is qualified in its entirety by reference to the full text of the Incentive Plan.

55

Background. The purpose
of the Incentive Plan is to enhance stockholder value by linking the compensation of our employees, officers, directors, and consultants
to increases in the price of