Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1258

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 9B
Chunk 1258
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).

On
October 19, 2022, the Compensation Committee granted nonqualified stock options of 200,000 shares to Mr. Folkes the vest equally over
a three-year period with 66,667 shares beginning on October 19, 2022. These options will automatically vest if there is a Change in Control
(as defined in our Equity Incentive Plan).

On
February 24, 2022, the Compensation Committee entered into a second amendment to an employment agreement with Mr. Lai pursuant to which
it granted him equity in exchange for salary for the six-month period beginning on March 1, 2023 and ending on August 31, 2023. The Company
granted Mr. Lai totaling 60,600 shares which vest in equal monthly amounts of 10,100 shares beginning March 1, 2023 in lieu of his salary
payments for a six-month period.

For
the grant date fair values of the options and RSUs, please see the Summary Compensation Table above.

Perquisites

We
offer health insurance to our Named Executive Officers on the same basis that these benefits are offered to our other eligible employees.
We offer a 401(k) plan to all eligible employees. The Company also provides other benefits to its Named Executive Officers on the same
basis as provided to all its employees, including vacation and paid holidays.

40

OUTSTANDING
EQUITY AWARDS AT FISCAL YEAR END 2025

The
following table sets forth for each Named Executive Officer, information regarding outstanding equity awards as of March 31, 2025. Market
value is based on the closing stock price of $.80 on March 31, 2025.

    Option
    Awards  
    Stock
    Awards 
  
    Name 
    Grant
    Date  
    Number
                                            of securities underlying unexercised options exercisable (#)  
    Number
                                            of securities underlying unexercised options unexercisable (#)  
    Option exercise price ($)  
    Option expiration date  
    Number
                                            of shares
                                            or units of
                                            stock that have
                                            not vested (#)  
    Market value
                                            of shares
                                            or units
                                            of stock
                                            that have
                                            not vested ($)(1) 
  
    John Lai 
     10/31/2019  
     90,000  
     —  
     2.24