Laird Superfood, Inc. previously reported in its Prospectus on 424(b)(4) dated September 22, 2020 that Luan Pham, Chief Marketing and Revenue Officer, would be retiring on December 31, 2020, and that he qualified for certain benefits by reason of a departure due to retirement. Mr. Pham retired from the Company on such date, executed a separation agreement and general release of claims (the Separation Agreement), and thereby became entitled to have the term of certain stock options extended for five (5) years from the date of separation, notwithstanding his departure.