Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 1292

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 6
Chunk 1292
---
 $26,000  
     -(1)  
     -(1)  
     -  
     -  
        
    $26,000 

    Alejandro Tani 
    $20,000  
     -(1)  
     -(1)  
     -  
     -  
     -  
    $20,000 

    Ashley Marshall 
    $20,000  
     -(1)  
     -(1)  
     -  
     -  
     -  
    $20,000 

(1)Each of Travis McCourt, Alan Chippindale, Alejandro Tani
and Ashley Marshall had outstanding option awards consisting of a fully-vested option to purchase up to 5,000 shares of common stock
and outstanding stock awards consisting of 2,892 shares of common stock as of December 31, 2024.

68

Under their independent director agreements, each
director that has been determined to be independent will receive an annual cash fee and an initial award of restricted common stock and
a stock option. We will pay the annual cash compensation fee to each non-employee director in four equal installments no later than the
fifth business day of each calendar quarter commencing in the quarter ending March 31, 2022. We granted the restricted stock and options
to the non-employee directors on November 12, 2021. The cash fee paid to each non-employee director will be $20,000 as to Ms. Marshall
and Mr. Tani, and $26,000 as to Mr. McCourt and Mr. Chippindale. Under their agreements, 2,892 shares of restricted common stock were
awarded to each independent director. The restricted stock vested in four (4) equal quarterly installments commencing in the quarter ending
March 31, 2022. The option that was awarded to each non-employee director may be exercised to purchase 5,000 shares of common stock at
the exercise price of $4.15 per share. The option vested and became exercisable in twelve (12) equal monthly installments over the first
year following the date of grant, subject to the respective non-employee director continuing in service on our board through each such
vesting date. The term of each stock option is ten years from the date of grant. We