Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 253

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 3
Chunk 253
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    Dongshan Wang 
        
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(1) Represents the dollar amount recognized for financial
statement reporting purposes in accordance with FASB ASC 718 – “Compensation – Stock Compensation.”

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Pursuant to the terms of their
director agreements, each of our independent directors, receive 1,000 shares of our restricted common stock on an annual basis. The grant
of restricted common stock is contingent upon the director’s continued service with the Company. We do not pay any cash compensation
to the independent directors.

Certain Relationships and Related
Transactions

It is our policy to not enter
any transaction (other than compensation arrangements in the ordinary course) with any director, executive officer, employee, or principal
stockholder or party related to them, unless authorized by a majority of the directors having no interest in the transaction, upon a favorable
recommendation by the Audit Committee (or a majority of its disinterested members).

Item 12. Security Ownership of
Certain Beneficial Owners and Management and Related Stockholder Matters

The following table sets forth certain information
regarding beneficial ownership of Common Stock, as of the date of this annual report, by each of Company’s directors and executive
officers; all executive officers and directors as a group, and each person known to Company to own beneficially more than 5% of Company’s
Common Stock. Except as otherwise noted, the persons identified have sole voting and investment powers with respect to their shares. As
of the date of this annual report, there were 13,346,618 shares of the Company’s Common Stock outstanding.

    Name of Beneficial Owner (1) 
    Number of Shares
      
    Percent of Class
  
    Xiaobin Liu (CEO and Chairman) 
     138,115 
    (2) 
     1%
  
    Yibo Yang (Director) 
     — 
       
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    Min Li (CFO) 
     138,115 
    (2) 
     1%
  
    Naihui Miao (COO) 
     138,115 
    (2) 
     1%
  
    Shengwei Ma (Director) 
     4,000