Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 39

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 39
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 advanced if we can continue to offer our key management employees,
non-employee directors and consultants the opportunity to acquire or increase their proprietary interests in the Company. The Board has
concluded that our ability to attract, retain and motivate top quality management would be enhanced by our continued ability to grant
equity compensation under the 2019 Plan. Accordingly, the Board has determined that the number of shares available for issuance under
the 2019 Plan should be increased further.

Under the 2019 Plan, options awards and restricted stock units are outstanding
for a total of 92,098 shares that have been granted to employees, directors and consultants. The total number of shares currently available
for issuance under the 2019 Plan as of September 22, 2025 is 54,182 shares, which equals approximately 0.3%% of the issued and outstanding
shares of common stock on a fully diluted basis as of that date. If stockholders approve this Proposal 3, the total number of shares
available for future stock awards under the 2019 Plan will be 3,100,000. The maximum aggregate number of shares that may be issued pursuant
to the exercise of incentive stock options within the meaning of Section 422(b) of the Internal Revenue Code of 1986, as amended (the
“Code”) under the Plan, shall not exceed 3,100,000 shares together with the available number of shares previously approved
for issuance as incentive stock options. If the increase is approved, it is expected that the 2019 Plan will have sufficient shares based
on estimated stock award grant rates until approximately 2026.

For information with respect to grants to certain executive officers in
Fiscal Year 2024 under the 2019 Plan, see page [•] and for information with respect to grants to our non-employee directors, see
page [•].

General

The material terms of this proposed 2025 Restatement of the 2019 Plan are
summarized below. The following summary of this 2025 Restatement of the 2019 Plan is not intended to be a complete description and is
qualified in its entirety by reference to the complete text of the 2019 Plan, a copy of which is attached as Appendix A. Capitalized terms
used and not otherwise defined in this section discussing the adoption of this 2025 Restatement of the 2019 Plan shall have the meanings
given to them in the 2019 Plan.

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