11. Stock Incentive Plan

The Company's stock-based compensation awards are issued under the Laird Superfood, Inc. 2020 Equity Incentive Plan (as amended, the "2020 Plan"). At the Company's Annual Meeting for Stockholders held on June 25, 2026, the Shareholders of the Company approved the 2020 Plan to (i) increase the aggregate number of shares of common stock of the Company available for issuance under the 2020 Plan by 3,876,836 shares, to a total of 6,000,000 shares, (ii) to extend the term of the 2020 Plan to May 22, 2036, and (iii) to modify the 2020 Plan's evergreen provision, by extending such provision an additional two years so that the last increase pursuant to the provision will be made on January 1, 2036, rather than January 1, 2034. 

For a description of the 2020 Plan, including the types of awards permitted, share authorization, vesting terms, and the methodologies used to determine the grant-date fair value of stock options and other awards, see Note 10 to the consolidated financial statements in the 2025 Form 10-K.

Stock-Based Compensation

The following table summarizes the Company’s stock-based compensation:

As of June 30, 2026, total unrecognized compensation cost related to non-vested stock-based awards was approximately $2.1 million, expected to be recognized over a weighted-average period of approximately 2.5 years. For additional information regarding outstanding awards, vesting terms, and remaining contractual life, see Note 10 to the consolidated financial statements in the 2025 Form 10-K.

During the six months ended June 30, 2026, the Company granted 24,000 restricted stock units ("RSUs"), with a weighted-average grant-date fair value of $2.58 per share. During the six months ended June 30, 2025, the Company granted 114,760 restricted stock units ("RSUs"), with a weighted-average grant-date fair value of $5.88 per share. The grant-date fair value is determined based on the closing price of the Company's common stock on the grant date.