Company: BSFC
Filing Date: 2025-06-23
Form Type: 10-K
Source: 0001641172-25-015976
Chunk: 722

Company: Blue Star Foods Corp.
Filing Date: 2025-06-23
Form: 10-K
Item: Item 1B
Chunk 722
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, if the applicable vesting conditions and other restrictions are not met.

Deferred
Stock Units. Deferred stock units are denominated in unit equivalent of shares of common stock and vest pursuant to a vesting schedule
or performance criteria set by the administrator. The common stock underlying deferred stock units will not be issued until the deferred
stock units have vested, and recipients of deferred stock units generally will have no voting rights prior to the time when vesting conditions
are satisfied.

Stock
Appreciation Rights (“SARs”). SARs may be granted in connection with stock options or other awards, or separately. SARs
granted in connection with stock options or other awards typically will provide for payments to the holder based upon increases in the
price of our Common Stock over a set exercise price. The exercise price of any SAR granted under the 2018 Plan must be at least 100%
of the fair market value of a share of our Common Stock on the date of grant. Except as required by Section 162(m) of the Code with respect
to a SAR intended to qualify as performance-based compensation as described in Section 162(m) of the Code, there are no restrictions
specified in the 2018 Plan on the exercise of SARs or the amount of gain realizable therefrom, although restrictions may be imposed by
the administrator in the SAR agreements. SARs under the 2018 Plan will be settled in cash or shares of common stock, or in a combination
of both, at the election of the administrator.

Dividend
Equivalent Awards. Dividend equivalent awards represent the value of the dividends, if any, per share paid by us, calculated with
reference to the number of shares covered by the award. Dividend equivalents may be settled in cash or shares and at such times as determined
by our compensation committee or board of directors, as applicable.

Performance
Awards. Performance awards may be granted by the administrator on an individual or group basis. Generally, these awards will be based
upon specific performance targets and may be paid in cash or in common stock or in a combination of both. Performance awards may include
“phantom” stock awards that provide for payments based upon the value of our Common Stock. Performance awards may also include
bonuses that may be granted by the administrator on an individual or group basis and that may be payable in cash or in common stock or
in a combination of both.

Stock
Payment Awards. Stock payment awards may be authorized by the administrator in the form of common