Company: SWAGW
Filing Date: 2025-01-22
Form Type: 10-K/A
Source: 0001213900-25-005516
Chunk: 195

Company: Stran & Company, Inc.
Filing Date: 2025-01-22
Form: 10-K/A
Chunk 195
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 other adjustments  |     |            |   (90,667 | ) |     |                  | 4.15 |     |                 |     — |
| Outstanding at December 31, 2022            |     |            | 1,505,333 |   |     | $                | 4.11 |     | $               |     — |
| Granted                                     |     |            |    76,500 |   |     |                  | 1.66 |     |                 |     — |
| Forfeited or expired and other adjustments  |     |            |  (115,771 | ) |     |                  | 4.13 |     |                 |     — |
| Outstanding at December 31, 2023            |     |            | 1,466,062 |   |     | $                | 3.98 |     | $               |     — |
| Vested and exercisable at December 31, 2023 |     |            |   852,896 |   |     | $                | 4.09 |     | $               |     — |

The weighted-average grant-date fair
value of options granted during the years ended December 31, 2023 and 2022 was $ and $, respectively. The weighted-average remaining
contractual term for the outstanding options is approximately years and years as of December 31, 2023 and 2022, respectively.

Restricted Stock:

Restricted stock consists of time-based
restricted stock units (RSUs) and performance-based restricted stock units (PSUs). RSUs granted under the 2021 Plan generally vest over
to years, based on continued employment, and are settled upon vesting shares of the Company’s common stock on a one-for-one
basis. PSUs granted under the 2021 Plan are issued and vest immediately as various performance goals and targets are achieved.

| Restricted Stock                 |     | Time-Based |          |   |
| Outstanding at January 1, 2022   |     |            |  154,960 |   |
| Granted                          |     |            |  145,660 |   |
| Vested                           |     |            | (227,737 | ) |
| Forfeited                        |     |            |   (8,717 | ) |
| Outstanding at December 31, 2022 |     |            |   64,166 |   |
| Granted                          |     |            |