Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 745

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 2
Chunk 745
---
 the T R Miller assets acquisition. We also agreed to pay Engage & Excel 1.5% of the contribution margin of the T R Miller
assets for two years, paid annually. The fees paid or that we have agreed to pay to Engage & Excel for consulting services to date
have totaled less than $200,000. The board of directors has determined that Mr. Chippindale remains eligible under Nasdaq rules to serve
as an “independent director” of the Company and as a member and chairman of the Compensation Committee and a member of the
Nominating and Corporate Governance Committee.

Open-Market Purchases of Common Stock by
Related Persons

On June 23, 2023, Alan Chippindale, a director
of the Company, purchased 8,000 shares of common stock on the open market at $1.4667 per share.

On August 28, 2023, Andrew Stranberg, Executive
Chairman, Treasurer, Secretary, and director, purchased 10,560 shares of common stock on the open market at $1.0995 per share.

On June 30, 2023,
Mr. Stranberg purchased 9,934.436 shares of common stock on the open market at $1.5099 per share.

On June 29, 2023,
Mr. Stranberg purchased 2,695.707 shares of common stock on the open market at $1.4838 per share.

On June 27, 2023, Mr. Audibert purchased 3,250
shares of common stock on the open market at $1.4723 per share.

On September 7, 2023, Ashley Marshall, a director
of the Company, purchased 760 shares of common stock on the open market at $1.26 per share.

Director Independence 

Independent Directors

Nasdaq’s rules generally require that a
majority of an issuer’s board of directors consist of independent directors. Our board of directors consists of six directors, four
of whom have been determined by our board of directors to be “independent directors” within the meaning of Nasdaq Listing
Rule 5605(a)(2). For a discussion of certain considerations relating to transactions with affiliates of certain of these directors, see
“—Transactions with Related Persons – Transactions with Non-Employee Director Affiliates”, which is incorporated
by reference herein. For discussion of compensation and indemnification arrangements with our independent directors for