Company: SWAGW
Filing Date: 2025-04-14
Form Type: 10-K
Source: 0001213900-25-031596
Chunk: 444

Company: Stran & Company, Inc.
Filing Date: 2025-04-14
Form: 10-K
Item: Item 1B
Chunk 444
---
 Cancelled and forfeited stock options and stock
awards may again become available for grant under the Plan. As of December 31, 2024, 1,077,205 shares remained available for issuance
under the Plan, including shares not otherwise reserved for outstanding stock options issued under the Plan.

Summary of Principal Features of the Plan

Awards that may be granted under the Plan include:
(a) Incentive Stock Options, (b) Non-qualified Stock Options, (c) Stock Appreciation Rights, (d) Restricted Awards, (e) Performance Share
Awards, and (f) Performance Compensation Awards, each as defined by the Plan. These awards offer our officers, employees, consultants
and directors the possibility of future value, depending on the long-term price appreciation of our common stock and the award holder’s
continuing service with the Company.

Stock options give the option holder the right
to acquire from us a designated number of shares of common stock at a purchase price that is fixed upon the grant of the option. The exercise
price generally will not be less than the market price of the common stock on the date of grant. Stock options granted may be either Incentive
Stock Options or Non-qualified Stock Options.

Stock Appreciation Rights, or SARs, may be granted
alone or in tandem with options, and have an economic value similar to that of options. When a SAR for a particular number of shares is
exercised, the holder receives a payment equal to the difference between the fair market value of the shares on the date of exercise and
the exercise price of the shares under the SAR. The exercise price for SARs is normally the market price of the shares on the date the
SAR is granted. Under the Plan, holders of SARs may receive this payment — the appreciation value — either in cash or shares
of common stock valued at the fair market value on the date of exercise. The form of payment will be determined by the administrator.

Restricted Awards are awards of shares of common
stock or rights to shares of common stock to participants at no cost. Restricted Stock (as defined by the Plan) represents issued and
outstanding shares of common stock which may be subject to vesting criteria under the terms of the award within the discretion of the
administrator. Restricted Stock Units (as defined by the Plan) represent the right to receive shares of common stock which may be subject
to satisfaction of vesting criteria under the terms of the award within the discretion of