Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 395

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1
Chunk 395
---
253.
The options were expensed over the vesting period, resulting in $24,581
and $5,672
of stock-based compensation expense during the years ended December 31, 2024 and 2023, respectively.

On
August 8, 2023, the Company granted options to purchase an aggregate 30,000
shares of the Company’s common stock under the 2022 Plan, having an exercise price of $6.00
per share, exercisable over a 10-year
term, to the chairman of the audit committee. The options will vest monthly over a one-year period. The estimated value using the
plain vanilla Black-Scholes Pricing Model, based on a volatility rate of 39%
and a call option value of $0.1644, and an expected term of 3 years,
was $4,932.
The options were expensed over the vesting period, resulting in $2,980
and $1,952
of stock-based compensation expense during the years ended December 31, 2024 and 2023, respectively.

On
August 8, 2023, the Company granted options to purchase an aggregate 30,000
shares of the Company’s common stock under the 2022 Plan, having an exercise price of $2.51
per share, exercisable over a 10-year
term, to one of its directors. The options will vest monthly over a one-year period. The estimated value using the plain vanilla
Black-Scholes Pricing Model, based on a volatility rate of 39%
and a call option value of $0.7885, and an expected term of 3 years,
was $23,655.
The options were expensed over the vesting period, resulting in $14,291
and $9,364
of stock-based compensation expense during the years ended December 31, 2024 and 2023, respectively.

    F-25

BRANCHOUT
                                            FOOD INC.

NOTES
TO CONSOLIDATED FINANCIAL STATEMENTS

On
February 28, 2023, the Company awarded fully vested options to purchase 16,000
shares of common stock under the 2022 Plan at an exercise price equal to $4.125
per share, exercisable over a 10ten-year
period to an employee. The estimated value using the plain vanilla Black-Scholes Pricing Model, based on a volatility rate of 50%
and