Company: SWAGW
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001213900-25-074995
Chunk: 354

Company: Stran & Company, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 354
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 restricted stock to the Company’s employees, officers, directors, and outside consultants to purchase shares of
the Company’s common stock. As of June 30, 2025, the number of shares of common stock available for issuance under the 2021
Plan is 983,905 shares of common stock.

Stock-based compensation expense included
the following components:

    Three Months Ended June 30,  
    Six Months Ended  June 30, 

    2025  
    2024  
    2025  
    2024 
  
    Stock options 
    $2  
    $17  
    $10  
    $17 
  
    Restricted stock 
     29  
     3  
     30  
     153 

    $31  
    $20  
    $40  
     170 

All stock-based compensation expense
is recorded in general and administrative expense in the unaudited condensed consolidated statements of operations.

Stock Options

The fair value of options is estimated
on the date of grant using the Black-Scholes option pricing model. The fair value is amortized as compensation cost on a straight-line
basis over the requisite service period of the awards, which is generally the vesting period. Expected volatility is based on historical
volatility from a representative sample of publicly traded companies. The expected term represents the period of time that the options
are expected to be outstanding. The risk-free interest rate is estimated using the rate of return on U.S. Treasury Notes with a life that
approximates the expected life of the option. Stock-based compensation is based on awards that are ultimately expected to vest.

Option awards are generally granted
with an exercise price equal to the fair value of the Company’s stock at the date of grant; those options generally vest based
on four years of continuous service and have 10-year contractual terms.

21

STRAN & COMPANY, INC.

NOTES TO THE UNAUDITED CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS

(in thousands, except
share and per share amounts)

A summary of option activity under
the 2021 Plan as of and for the six months ended June 30, 2025 is presented below:

    Options 
    Shares  
    Weighted Average
 Exercise Price  
    Aggregate Intrinsic
 Value 
  
    Outstanding at December 31, 2024 
     1,376,333