Stran Company Inc
For the period ended Mar 31, 2025. Filed May 15, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed May 15, 2025
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Item 5. Other Information
| ITEM 5. | OTHER INFORMATION. |
Deadlines for Stockholder Proposals and Nominations at Combined 2024 and 2025 Annual Meeting
The Company’s combined 2024 and 2025 annual meeting of stockholders (the “Annual Meeting”) has been scheduled to be held on Friday, July 25, 2025, and that the record date for the determination of stockholders of the Company entitled to receive notice of and to vote at the Annual Meeting shall be the close of business on Tuesday, May 27, 2025. The time and location of the Annual Meeting will be as set forth in the Company’s definitive proxy statement for the Annual Meeting to be filed with the Securities and Exchange Commission.
Due to the fact that the date of the Annual Meeting has been changed by more than 30 days from the anniversary date of the 2023 annual meeting of stockholders, the Company is providing the deadlines for submission of any qualified stockholder proposal for inclusion in the Company’s proxy materials for the Annual Meeting, for proper presentation of proposals or director nominations at the Annual Meeting, and for solicitation of proxies in support of director nominees in compliance with the universal proxy rules.
For a proposal to be included in our proxy statement for the Annual Meeting in accordance with Rule 14a-8 under the Exchange Act, the proposal must be received no later than Friday, May 30, 2025. A proposal which is received after the applicable date or which otherwise fails to meet the requirements for stockholder proposals established by the SEC will not be included. The submission of a stockholder proposal does not guarantee that it will be included in the proxy statement. The proposal must also comply with the other requirements for stockholder proposals under Rule 14a-8 under the Exchange Act in order for it to be required to be included in our proxy statement for the Annual Meeting. In addition, if the requirements of Rule 14a-4(c)(2) under the Exchange Act are not complied with, the Company may exercise discretionary voting authority under proxies it solicits to vote in accordance with its best judgment on any such proposal.
In accordance with the Company’s Amended and Restated Bylaws (“Bylaws”), for any proposal or any director nomination that is not included in the Company’s proxy statement for the Annual Meeting to be brought by a stockholder before the Annual Meeting, notice of the proposal or nomination must be received by May 26, 2025.
On March 19, 2025, the Compensation Committee approved the grant of the following discretionary cash bonuses: $50,000 was granted to Andrew Shape, Chief Executive Officer and President; $25,000 was granted to David Browner, Chief Financial Officer; and $25,000 was granted to John Audibert, Vice President of Growth and Strategic Initiatives. The bonus compensation was in addition to any cash bonus or other compensation that each of the recipients may be entitled to or eligible for under his respective employment or consulting agreement with the Company.
None of our directors or “officers,” as defined in Rule 16a-1(f) under the Exchange Act, adopted orterminated a Rule 10b5-1 trading plan or arrangement or a non-Rule 10b5-1 trading plan or arrangement, as defined in Item 408(c) of Regulation S-K, during the fiscal quarter ended March 31, 2025.
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