Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 103

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part II, Item 8
Chunk 103
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 approved by the Company’s stockholders at the 2024 annual stockholder meeting
on March 8, 2024. The 2013 BA Plan has 13,600,000 shares authorized for issuance. As of December 31, 2024, 653,729 shares were available
under the 2013 BA Plan.

     18 

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE
4 STOCKHOLDERS’ EQUITY (continued)

Restricted
Stock Units

The
fair value for the restricted stock unit awards was valued at the closing price of the Company’s common stock on the date of grant.
Restricted stock units vest annually over five years.

A
summary of the Company’s restricted stock unit awards for the nine months ended December 31, 2024 is as follows:

SCHEDULE OF RESTRICTED STOCK AWARDS

    Number Of Shares  
    Weighted Average Grant Date Fair Value 

    Unvested as of April 1, 2024 
     618,900  
    $6.98 
  
    Granted 
     -  
     - 
  
    Vested 
     (242,300) 
     6.86 
  
    Forfeited 
     (8,800) 
     11.48 
  
    Unvested as of December 31, 2024 
     367,800  
    $6.96 

Stock-based
compensation expense related to these stock issuances for the three months ended December 31, 2024 and December 31, 2023 was $0.3 million
and $0.7 million, respectively.

Stock-based
compensation expense related to these stock issuances for the nine months ended December 31, 2024 and December 31, 2023 was $0.9 million
and $2.2 million, respectively. The unrecognized compensation cost is $1.0 million and the weighted average remaining service period is
1.85 years.

A
summary of the change in options for the nine months ended December 31, 2024 is as follows: 

SCHEDULE OF OPTION ACTIVITY 

    Number of Options  
    Weighted Average Exercise Price of Options  
    Weighted Average Remaining Contractual Life of Options  
    Aggregate