Company: GURE
Filing Date: 2025-04-11
Form Type: 10-K
Source: 0001193805-25-000461
Chunk: 623

Company: GULF RESOURCES, INC.
Filing Date: 2025-04-11
Form: 10-K
Item: Item 9
Chunk 623
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 634,770 shares owned by Ming Yang, 1,015,945 shares owned by Ms. Wenxiang Yu,
the wife of Mr. Yang, 334,960 shares owned by Mr. Zhi Yang, Mr. Yang’s son. Mr. Yang disclaims beneficial ownership of the shares
owned by his wife and son.

Equity Compensation Plan Information

2019 Incentive Stock Plan

On December 18, 2019, the Company’s Annual General Meeting adopted
and approved the 2019 Omnibus Equity Incentive Plan of Gulf Resources, Inc.(the”2019 Plan”). Under the 2019 Plan, the Company
has reserved a total of 2,068,398 shares of common stock for issuance as or under awards to be made to the directors, officers, employees
and/or consultants of the Company and its subsidiaries.

On November 30, 2021, the Company’s Annual General Meeting approved
to amend the 2019 Plan to increase the number of shares of common stock authorized for issuance under the plan by 900,000 shares.

As of December 31, 2024, there is no shares under the 2019 Plan have
been issued, and 561,801 shares remained for future issuance under the 2019 Plan.

59 

Securities Authorized for Issuance under Equity Compensation Plans

As of December 31, 2024, our 2019
Equity Incentive Plan was in effect.

The following table provides information as of December 31, 2024 about
our equity compensation plans and arrangements.

    Number of securities

    remaining available for

    Number of securities to
    Weighted-average
    future issuance under

    be issued upon exercise
    exercise price of
    equity compensation plans

    of outstanding options,
    outstanding options,
    (excluding securities
  
    Plan category	
    warrants and rights
    warrants and rights
    reflected in column (a))
  
    (a)
     
    (b)
    (c)
  
    Equity compensation plans approved by security	
    --
    --
    561,801
  
    Equity compensation plans not approved by	
    --
    --
    --
  
    Total	
    --
    --
    561,801

Item 13. Certain Relationships and Related Transactions,
Director Independence

Certain Relationships and Related Transactions

Our policy is that a contract
or transaction either between the Company and a director, or between a director and another company in