Company: RETO
Filing Date: 2025-05-09
Form Type: 20-F
Source: 0001213900-25-041195
Chunk: 77

Company: ReTo Eco-Solutions, Inc.
Filing Date: 2025-05-09
Form: 20-F
Item: Item 19
Chunk 77
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000.

On June 7, 2024, the Company’s board of
directors approved the issuance of an aggregate of18,726common shares to its employees, officers and directors for their services under
the 2022 Share Incentive Plan. For the period from June 24, 2024 to August 12, 2024, the Company issued an aggregate of18,726Class A
common shares, and the Company recognized share-based compensation expenses of $285,889.

Issuances for Consulting Services

In April 2021, the Company entered into a consulting service agreement
with Geniusland International Capital Ltd. (“ Geniusland”). Pursuant to the agreement, Geniusland would assist the Company
with strategic initiatives over the service period between January 23, 2021 and January 24, 2024. For the first-year service, the Company
issued1,000common shares valued at $1,330,000based on the fair market price of the Company’s common shares, at $1,330per share
on April 9, 2021. In January 2022, the Company revised the consulting service agreement with Geniusland. Pursuant to the new agreement,
the service ceased on March 28, 2022. For the service provided between December 29, 2021 and March 28, 2022, the Company issued500common
shares valued at $735,000based on the fair market price of the Company’s common shares, at $1,470per share on January 3, 2022.
Share-based compensation is amortized over the service period. For the years ended December 31, 2023, 2022 and 2021, the Company recognized
share-based compensation expenses of nil, $735,000and $1,330,000, respectively.

On February 27, 2023, the Company entered into
a consulting service agreement with Express Transportation Ltd. (“ ETL”). Pursuant to the agreement, ETL agreed to provide
feasibility, analysis and risk management services for investment projects in mainland China in exchange for2,000common shares, which
were issued on March 8, 2023. Share-based compensation is amortized over the service period. For the year ended December 31, 2023, the
Company recognized share-based compensation expenses of $840,000.

On February 27, 2023, the Company entered into
a consulting service agreement with Max