Company: GRPS
Filing Date: 2025-07-17
Form Type: 10-K
Source: 0001683168-25-005173
Chunk: 338

Company: Trans American Aquaculture, Inc
Filing Date: 2025-07-17
Form: 10-K
Item: Item 4
Chunk 338
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 for all
services rendered in all capacities to our company and its subsidiaries for the years ended December 31, 2024 and 2023.

Summary Compensation Table

    Name and principal position 
    Year 
    Salary ($)  
    Total ($) 
  
    Adam Thomas, CEO, CFO, Director 
    2024 
     169,900 (1)  
     169,900 

    2023 
     126,750 (1)  
     126,750 

________________________ 

    (1)
    Accrued and unpaid.

We currently have not entered into an employment agreement
with Mr. Thomas; however, effective June 12, 2023, our board of directors approved the following compensation for Mr. Thomas:

    ·
    effective April 1, 2023, Mr. Thomas will receive an annual base salary of $169,000 for his service as Chief Executive Officer;

    ·
    Mr. Thomas will be eligible to receive incentive compensation of up to $41,000 in the form of cash and stock, at Mr. Thomas’ election; and

    ·
    Mr. Thomas is eligible to receive employment benefits as generally provided by our policies and benefit plans for employees.

Summary Compensation for Directors

During the year ended December 31, 2024, the award
of $43,000 of Common Stock was earned by each of our directors; however, the shares have yet to be issued.

 22 

Effective June 12, 2023, our board of directors approved
the following compensation for non-management directors:

    ·
    annual retainer of $43,000 for board membership, inclusive of all Board meeting and committee meeting attendance fees;

    ·
    annual retainer for service on the Audit Committee of $10,000;

    ·
    annual retainer for service as the Chairperson of any committee established by the board, other than the Audit Committee, of $5,000; and

    ·
    reimbursement for reasonable out-of-pocket expenses actually incurred in connection with participation and/or attendance of board and committee meetings.

The annual retainer fees for non-management director
and committee Chairpersons will be paid in one annual payment at the end of each fiscal year. Newly appointed directors and/or committee
Chairpersons will be paid on a pro rata basis in relation to time served during their first calendar quarter of service. Subject to approval
of the Board of Directors, a non-management