Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 252

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 10
Chunk 252
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    $17,111(3) 
    $-  
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    $-  
    $17,111 
  
    Deven Jain 
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    $-  
    $-  
    $-  
    $-  
    $-  
    $- 
  
    Lindsay L. Schwartz 
    $-  
    $-  
    $-  
    $-  
    $-  
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    $- 

(1)
On February 22, 2024, we granted Mr. Israel an option to purchase 30,000 shares of common stock at an exercise price of $1.92 per
share, exercisable over a 10-year term. The estimated value using the Black-Scholes Pricing Model, based on a volatility rate of 41%
and a call option value of $1.1407, was $34,221.

(2)
On February 22, 2024, we granted Mr. Jones an option to purchase 34,166 shares of common stock at an exercise price of $1.92 per
share, exercisable over a 10-year term. The estimated value using the Black-Scholes Pricing Model, based on a volatility rate of 41%
and a call option value of $1.1407, was $38,974.

(3)
On February 22, 2024, we granted Mr. Somerville an option to purchase 15,000 shares of common stock at an exercise price of $1.92
per share, exercisable over a 10-year term. The estimated value using the Black-Scholes Pricing Model, based on a volatility rate of
41% and a call option value of $1.1407, was $17,111.

Directors
are entitled to reimbursement for reasonable travel and other out-of-pocket expenses incurred in connection with attendance at meetings
of our board of directors.

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

The
following table sets forth, as of March 31, 2025, certain information with regard to the record and beneficial ownership of the Company’s
common stock by (i) each person known to the Company to be the record or beneficial owner of 5% or more of the Company’s common
stock, (ii) each director of the Company, (iii) each