Company: BOF
Filing Date: 2025-04-15
Form Type: 10-K
Source: 0001641172-25-004712
Chunk: 464

Company: BranchOut Food Inc.
Filing Date: 2025-04-15
Form: 10-K
Item: Item 1A
Chunk 464
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 all outstanding options and SARs
to become immediately exercisable, in whole or in part; (b) cause any other awards to become non-forfeitable, in whole or in part; (c)
cancel any option or SAR in exchange for a substitute option; (d) cancel any award of restricted stock, restricted stock units, performance
shares or performance units in exchange for a similar award of the capital stock of any successor corporation; (e) cancel or terminate
any award for cash and/or other substitute consideration in exchange for an amount of cash and/or property equal to the amount, if any,
that would have been attained upon the exercise of such award or realization of the participant’s rights as of the date of the
occurrence of the change in control, but if the change in control consideration with respect to any option or SAR does not exceed its
exercise price, the option or SAR may be canceled without payment of any consideration; or (f) make such other modifications, adjustments
or amendments to outstanding awards as the Compensation Committee deems necessary or appropriate.

Amendment,
Termination. The board of directors may at any time amend the 2022 Equity Incentive Plan for the purpose of satisfying the requirements
of the Code, or other applicable law or regulation or for any other legal purpose, provided that, without the consent of our stockholders,
the board of directors may not (a) increase the number of shares of common stock available under the 2022 Equity Incentive Plan, (b)
change the group of individuals eligible to receive options, SARs and/or other awards, or (c) extend the term of the 2022 Equity Incentive
Plan.

Tax
Withholding

As
and when appropriate, we shall have the right to require each optionee purchasing shares of common stock and each grantee receiving an
award of shares of common stock under the 2022 Equity Incentive Plan to pay any federal, state, or local taxes required by law to be
withheld. 

Issuer
Purchase of Equity Securities

None.

ITEM
6. [Reserved]

 25 

ITEM
7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

This
discussion summarizes the significant factors affecting the operating results, financial condition, liquidity and cash flows of the Company
for the fiscal years ended December 31, 2024 and 2023. The discussion and analysis that follows should be read together with the section
entitled “Forward Looking Statements