Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 121

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1
Chunk 121
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 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 will also reimburse each non-employee director for
pre-approved reasonable business-related expenses incurred in good faith in connection with the performance of the non-employee director’s
duties for us.

Indemnification Agreements and Directors and
Officers Liability Insurance

We have entered into a standard indemnification agreement with each of our officers and directors. The full text of the form of indemnification
agreement is filed with this Annual Report on Form 10-K as Exhibit 10.11.

We have also obtained standard policies of insurance
under which coverage is provided (a) to our directors and officers against loss rising from claims made by reason of breach of duty or
other wrongful act, and (b) to us with respect to payments which we may make to such officers and directors pursuant to the indemnification
agreements referred to above, our Articles of Incorporation and amended and restated bylaws, or otherwise as a matter of law.

Amended and Restated 2021 Equity Incentive
Plan

On September 14, 2021, we established the Stran
& Company, Inc. Amended and Restated 2021 Equity Incentive Plan. The purpose of the Plan is to grant restricted stock, stock options
and other forms of incentive compensation to our officers, employees, directors and consultants. The maximum number of shares of common
stock that may be issued pursuant to awards granted under the Plan is 3,000,000 shares. Cancelled and forfeited stock options and stock
awards may again become available for grant under the Plan. As of December 31, 2024, 1,077,205 shares remained available for issuance
under the Plan, including shares not otherwise reserved for outstanding stock options issued under the Plan.

Summary of Principal Features of the Plan

Awards that may be granted under the Plan include:
(a) Incentive Stock Options, (b) Non