Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 2820

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 8
Chunk 2820
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 stock option as to 40,000 shares if the annual net profit target is certified
as attained; (3) vesting of the stock option as to 50,000 shares if 125% of the annual net profit target is certified as attained; and
(4) vesting of the stock option as to 50,000 shares if 150% of the annual net profit target is certified as attained.

All equity
bonuses under the A&R Audibert Consulting Agreement have been or will be awarded under standard forms of award agreements under the
Plan. The Plan provides that to the extent that equity bonuses of grants of common stock are designated Performance Compensation Awards
(as defined by the Plan) by the board or the Compensation Committee and to the extent that each fiscal year constitutes a Performance
Period (as defined by the Plan), pursuant to the Plan, such awards must be granted as soon as administratively practicable following completion
of the certification of the attainment of the performance conditions for such awards but in no event later than 2 1/2 months following
the end of the fiscal year during which the respective Performance Period is completed. Otherwise, such grants will be considered Performance
Shares (as defined by the Plan) and will be granted when certified by the board or the Compensation Committee.

Under the
A&R Audibert Consulting Agreement, JCA will also be eligible for additional bonus amounts as determined by the board or the Compensation
Committee within its sole discretion. JCA will provide services under the A&R Audibert Consulting Agreement as an independent contractor.
JCA and Mr. Audibert will not receive employee or executive benefits. JCA and Mr. Audibert will be solely responsible for any business-related
expenses.

On February
15, 2024, in connection with the Company’s fiscal year 2023 executive bonus determinations, the Compensation Committee certified
the attainment of the performance conditions under the A&R Audibert Consulting Agreement for the vesting of 2,339 shares of 46,511
shares of restricted stock initially granted to JCA on April 14, 2023. In accordance with the above, the initial grant of 46,511 shares
of restricted stock to JCA on April 14, 2023 was cancelled and 2,339 shares were issued to Mr. Audibert. In addition, the Compensation
Committee awarded discretionary bonuses of a cash bonus of $10,000 to JCA, the grant of an additional