Company: KAVL
Filing Date: 2025-10-07
Form Type: DEF 14A
Source: 0001731122-25-001359
Chunk: 29

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-10-07
Form: DEF 14A
Chunk 29
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 | 126,837 |
|                                                                                            |     |                               | 2024 |     |            |     168,960 |    |     |           | 1,500 |     |                  | 0 |     |                       |       0 |     |                                            | 0 |     |                                                 | 0 |     |           | 170,460 |

| (1) | Reflects the fair value of stock awards during the years in accordance with FASB ASC 718, Compensation-- Stock Compensation, using actual forfeitures that were immaterial. For valuation assumptions related to the 2023 option awards, refer to Note 2, “Share-Based Compensation,” to the accompanying audited consolidated financial statements for the year ended October 31, 2024. |
| (2) | Mr. Nirajkumar Patel resigned from the Company on September 7, 2024, upon his passing.                                                                                                                                                                                                                                                                                                   |
| (3) | Mr. Mosser resigned from the Company on March 8, 2024.                                                                                                                                                                                                                                                                                                                                   |
| (4) | Mr. Metzler resigned from the Company on February 20, 2024.                                                                                                                                                                                                                                                                                                                              |
| (5) | Mr. Sheriff resigned from the Company on February 22, 2024.                                                                                                                                                                                                                                                                                                                              |
| (6) | Consulting fees pursuant to the Consulting Agreement (as defined below). See “Narrative Discussion” for additional information.                                                                                                                                                                                                                                                          |

Narrative Discussion

The following is a narrative discussion
of the material information that we believe is necessary to understand disclosed in the foregoing Summary Compensation Table. The following
narrative disclosure is separated into sections, with a separate section for each of our named executive officers.

<div align='center'>17</div>

Nirajkumar Patel

During the fiscal year ended October
31, 2024, we paid a base salary of approximately $241,499 to Nirajkumar Patel, our former CEO, Chief Science & Regulatory Officer,
compared to a base salary of approximately $276,000 for the fiscal year ended October 31, 2023.

We issued the following stock
compensation to Mr. Patel during fiscal years 2023 and 2024:

| Vesting and/or Issuance Date |     | Number of Shares of our Common Stock |        |     | Price Per Share |       |     | Aggregate Value |         |
| 2/6/2023                     |     |                                      |