Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 178

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 178
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9, 2024 or the next annual shareholders’ meeting. During the year ended June 30, 2024, 4,568of these RSUs
vested.

In December 2023, the Company terminated five employees
and as part of their severance agreement modified their equity awards that had been granted pursuant to the 2019 Omnibus Plan. The modifications
included the acceleration of certain stock option awards to purchase a total of 5,623 shares of common stock (“Accelerated Options”),
effective on the December Separation Date, as defined in severance agreement (“Separation Date”), and extended the expiration
date for one year from the Separation Date for both the Accelerated Options and any vested and unexercised stock options held by the terminated
employees as of the Separation Date. Accordingly, the Company remeasured the Accelerated Options based on the stock price of $15.40 per
share at the close on the Separation Date and a one-year extension of the term. The net adjustment for the modification was a net credit
of $127,199 and was recognized as an adjustment to stock compensation expense during the year ended June 30, 2024.

Additionally, 1,030 vesting RSUs were accelerated
as of the Separation date. The modified RSUs were remeasured based on the stock price of $15.40 per share at close on the Separation Date
and $15,865, was recorded to additional in stock-based compensation for the year ended June 30, 2024 as a result of the modification.

In connection with the separation, the Company canceled
18,396 unvested stock options and 1,030 unvested RSUs. Additionally, the Company canceled an additional 13,416 unvested stock options
for employees that voluntarily left the company.

In June 2023, the Company issued 14,950 RSUs with
a grant date fair value of $41.10 per share to the President and CEO under the Company’s 2019 Omnibus Plan. The RSUs vest in three
equal annual installments beginning on the first anniversary grant date. 4,983 RSUs vested in June 2024.

In June 2024, the Company issued 85,800 RSUs to employees,
with a grant date fair value of $4.74 per share. The RSUs vested on the grant date. The Company delivered the vested portion of the RSU’s
and issued