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

Role: COO & IRO
Signature: /s/ Stephen A. Sheriff
Stock symbol: KAVL
Transactions as of: Aug 22, 2023
Transactions value $: $0
Form type: 3
Date filed: 8/25/2023, 04:30 PM

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	KAVL	Common Stock						135K	Aug 22, 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							Aug 22, 2023	Common Stock	25K	$1.16	Direct	F1
holding	KAVL	Stock Option							Aug 22, 2023	Common Stock	25K	$0.73	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.