Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 447

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1B
Chunk 447
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 amended (the “Code”), for more favorable tax treatment than applies to Non-qualified Stock
Options. Only employees may be granted Incentive Stock Options. Any option that does not qualify as an Incentive Stock Option will be
a Non-qualified Stock Option. Under the Code, certain restrictions apply to Incentive Stock Options. For example, the exercise price
for Incentive Stock Options may not be less than the fair market value of the shares on the grant date and the term of the option may
not exceed ten years. In addition, an Incentive Stock Option may not be transferred, other than by will or the laws of descent and distribution,
and is exercisable during the holder’s lifetime only by the holder. In addition, no Incentive Stock Option may be granted to a holder
that is first exercisable in a single year if that option, together with all Incentive Stock Options previously granted to the holder
that also first become exercisable in that year, relate to shares having an aggregate market value in excess of $100,000, measured at
the grant date.

Stock Appreciation Rights.    Awards
of SARs may be granted alone or in tandem with stock options. SARs provide the holder with the right, upon exercise, to receive a payment,
in cash or shares of stock, having a value equal to the excess of the fair market value on the exercise date of the shares covered by
the award over the exercise price of those shares. Essentially, a holder of a SAR benefits when the market price of the common stock increases,
to the same extent that the holder of an option does, but, unlike an option holder, the SAR holder need not pay an exercise price upon
exercise of the award.

Restricted Stock. Restricted Stock
is a grant of shares of common stock. These awards may be subject to such vesting conditions, restrictions and contingencies as the administrator
shall determine at the date of grant. Those may include requirements for continuous service and/or the achievement of specified performance
goals. Restricted Stock is forfeitable and generally non-transferable until it vests. The vesting date or dates and other conditions
for vesting are established when the shares are awarded. The administrator may remove any vesting or other restrictions from Restricted
Stock whenever it may determine that, by reason of changes in applicable laws or other changes in circumstances arising after the date
of grant, such action is appropriate. Holders of Restricted Stock otherwise generally have the rights