Company: KAVL
Filing Date: 2025-02-10
Form Type: 10-K
Source: 0001731122-25-000185
Chunk: 969

Company: Kaival Brands Innovations Group, Inc.
Filing Date: 2025-02-10
Form: 10-K
Item: Item 9
Chunk 969
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2024 to identify or evaluate, or to assist in evaluating or identifying, potential director nominees.

51

Code of Ethics

On March 17, 2021, our Board adopted
a Code of Ethics and Business Conduct, that applies to all directors, senior officers, and employees of the Company (the “Code of
Ethics”). The Code of Ethics was adopted to enhance and clarify our personnel’s understanding of our standards of ethical
business practices, promote awareness of ethical issues that may be encountered in carrying out an employee’s or director’s
responsibilities, and sets forth how to address ethical issues that may arise. A copy of the Code of Ethics is available on our corporate
website at https://ir.kaivalbrands.com/governance/governance-documents/default.aspx.

Delinquent Section 16(a) Reports 

Section 16(a) of the Securities Exchange Act of 1934,
as amended, requires our directors, executive officers and persons who own more than 10% of our outstanding shares of common stock (“Ten
Percent Holders”) to file with the SEC reports of their share ownership and changes in their share ownership of our common stock.
Directors, executive officers and Ten Percent Holders are also required to furnish us with copies of all ownership reports they file with
the SEC. To our knowledge, based solely on a review of the copies of such reports furnished to us, the following directors, executive
officers and Ten Percent Holders did not comply with all Section 16(a) filing requirements as of October 31, 2024 as follows: Messrs.
Patel and Modi filed their Form 3s late in 2024

Insider Trading Policy

In March 2023, we adopted an insider trading policy governing the purchase,
sale, and/or other dispositions of our securities by our directors, officers, and employees, to promote compliance with insider trading
laws, rules and regulations, and applicable Nasdaq listing standards applicable to us. Our insider trading policy, among other things,
prohibits our directors, officers, and employees from holding our securities in a margin account or pledging our securities as collateral
for a loan. In addition, our insider trading policy prohibits employees, officers, and directors from engaging in put or call options,
short selling, or similar hedging activities involving our stock. 

Compensation Committee Interlocks and Insider Participation

None of our executive officers
currently serve, or have served during the last year, as a member of the