Company: OKMN
Filing Date: 2025-09-29
Form Type: 10-K
Source: 0001079973-25-001512
Chunk: 281

Company: OKMIN RESOURCES, INC.
Filing Date: 2025-09-29
Form: 10-K
Item: Item 7A
Chunk 281
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 its initial Form 3.

ITEM 11. EXECUTIVE
COMPENSATION.

With the exception of the Company’s President,
Chief Executive Officer and Chief Financial Officer, Jonathan Herzog, as detailed below, the Company has not paid compensation to its
executive officers. To date, the Company also has not paid any compensation to directors for their service as such.

In connection with the formation of the Company, 5,000,000
shares of the Company’s Series A preferred stock were designated and later subsequently issued to Mr. Herzog at a deemed value of
$0.001 per share with no cash consideration in lieu of work performed in organizing the corporation. Each share of Series A preferred
stock has voting rights of ten votes per share, though it is not entitled to receive dividends. Additionally, each share of Series A preferred
stock may be converted at $0.01 per preferred share into ten shares of common stock. 

From inception through October 2021, the Company paid
no cash compensation to any officer or director for their service as such. Commencing as of November 1, 2021, the Company agreed to compensate
Mr. Herzog with $6,750 per month in cash compensation, together with a further $6,750 monthly to be accrued and deferred until management
determines that the Company is in a position to make such payments. The Company and Mr. Herzog have not entered into a formal written
employment agreement in relation to Mr. Herzog’s compensation and employment terms as President, Chief Executive Officer and Chief
Financial Officer. As of the fiscal years ended June 30, 2025 and June 30, 2024, the Company has
accrued $438,750 and $276,750 in outstanding compensation, respectively.

The following summary compensation table sets forth
all compensation awarded to, earned by, or paid to the named executive officers paid by the Company during the fiscal years ended June
30, 2025, 2024 and 2023, in all capacities for the accounts of our executive officers, including the Chief Executive Officer.

    Name and principal position 
    Year  
    Salary Paid in Cash  
    Salary Accrued  
    Other Compensation  
    Total Compensation 

    Jonathan Herzog, 
    2025  
    $—    
    $162,000  
    $—    
    $162,000 
  
    President, CEO and CFO