{"url_path":"/sec/aitx/10-k/2026/item-13","section_key":"item-13","section_title":"Item 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE**","topic":"sec","document":{"doc_type":"10-K","doc_date":"2026-06-09","source_url":"https://www.sec.gov/Archives/edgar/data/1498148/0001493152-26-027796-index.html","accession_number":"0001493152-26-027796","cik":"0001498148","ticker":"AITX","issuer_name":"Artificial Intelligence Technology Solutions Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1498148/0001493152-26-027796-index.html","primary_entity_key":"0001498148","primary_entity_name":"Artificial Intelligence Technology Solutions Inc."},"word_count":444,"has_tables":true,"body_markdown":"**ITEM\n13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS AND DIRECTOR INDEPENDENCE**\n\n \n\nWe\ndo not have a written policy for the review, approval or ratification of transactions with related parties or conflicted transactions.\nWhen such transactions arise, they are referred to our board of directors for its consideration.\n\n \n\nFor\nthe years ended February 28, 2026, and February 28, 2025, the Company had net (advances) repayments of ($132,268) and ($71,927), respectively,\nto its loan payable-related party. At February 28, 2026, the loan payable-related party was $461,633 and $329,365 at February 28, 2025.\nAs of February 28, 2026, included in the balance due to the related party is $285,638 of deferred salary all of which bears interest\nat 12%. As of February 28, 2025, included in the balance due to the related party is $190,013 of deferred salary all of which bears interest\nat 12%. The accrued interest included at February 28, 2026, was $79,268 (February 28, 2025- $51,575).\n\n \n\nDuring\nthe year ended February 28, 2026, the Company had a net repayment of $390,744 in deferred compensation for the CEO. This would bring\nhis annual bonus for the year ended February 28, 2026, to $1.0 million. For the fiscal year ended February 28, 2025, the Company paid\nout $1,390,744 to the CEO. During the year ended February 28, 2025, the Company a net accrual of $1,663,833 in deferred compensation\nfor the CEO. This would bring his annual bonus for the year ended February 28, 2025, to $2.5 million. For the fiscal year ended February\n28, 2025, the Company paid out $836,167 to the CEO. This was all in accordance with a December 2023 board action allowing for $1 million\nof discretionary compensation.\n\n \n\nDuring\nthe years ended February 28, 2026, and February 28, 2025, the Company accrued 1,500 Series G shares to be issued totaling $1,500,000\nand 1,500 Series G preferred shares to be issued totaling $1,500,000, respectively, both per Company resolution. The Series G preferred\nshares are redeemable at $1,000 per share and will be issued by the Company at the appropriate time. The balance of Incentive Compensation\nPlan Payable at February 28, 2026, was $5,500,000 and the balance February 28, 2025, was $4,000,000.\n\n \n\nDuring\nthe years ended February 28, 2026, and February 28, 2025, the Company was charged $2,576,111 and $2,541,180, respectively in consulting\nfees for research and development to a company partially owned by a principal shareholder included in research and development expenses.\nThe principal shareholder received no compensation from this partially owned research and development company and the fees were spent\non core development projects. As at February 28, 2026, and February 28, 2025, the balance due to this company was $160,557 and $76,532,\nrespectively."}