Stephen A. Sheriff - 22 Aug 2023 Form 3 Insider Report for Kaival Brands Innovations Group, Inc. (KAVL)

Role: COO & IRO
Signature: /s/ Stephen A. Sheriff
Issuer symbol: KAVL
Transactions as of: 22 Aug 2023
Net transactions value: $0
Form type: 3
Filing time: 25 Aug 2023, 16:30:54 UTC
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	KAVL	Common Stock						134,500	22 Aug 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	KAVL	Stock Option							22 Aug 2023	Common Stock	25,000	$1.16	Direct	F1
holding	KAVL	Stock Option							22 Aug 2023	Common Stock	25,000	$0.7300	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On August 1, 2022, the Reporting Person received this 10-year, non-qualified stock option as part of his 2022 compensation. The option fully vested on the date of the grant.
F2	On February 6, 2023, the Reporting Person received this 10-year, non-qualified stock option as part of his 2023 compensation. The option will become fully vested and exercisable upon the earlier of: (a) February 6, 2024; or (b) the Company undergoes a Change of Control, as defined in the option grant.