Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 135

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 13
Chunk 135
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2024, the weighted average fair value of restricted stock unit awards granted was $5.65
per share. There were no grants of restricted stock units in the year ended March 31, 2025. As of March 31, 2025, all vested shares
had been issued.

Stock Options

The vesting terms of the options issued under the
2013 BA Plan are generally four years and expire ten years from the grant date.

A summary of the change in stock options for the years
ended March 31, 2025 and March 31, 2024 is as follows:

SCHEDULE OF OPTION ACTIVITY 

    Number Of Options  
    Weighted Average Exercise Price–- Options  
    Weighted Average Remaining Contractual Life-  Options  
    Aggregate Intrinsic Value (thousands) 

    Options outstanding as of March 31, 2023 
     8,198,881  
    $5.83  
     8.4  
    $8,306 
  
    Granted 
     3,789,500  
     1.70  

    Exercised 
     (42,500) 
     5.10  

    Forfeited 
     (662,412) 
     5.98  

    Options outstanding as of March 31, 2024 
     11,283,469  
    $4.45  
     8.0  
    $760 
  
    Granted 
     4,566,000  
     0.32  
     9.5  

    Exercised 
     -  
     -  

    Forfeited 
     (1,065,496) 
     3.11  

    Outstanding as of March 31, 2025 
     14,783,973  
    $0.47  
     7.9  
    $- 
  
    Exercisable as of March 31, 2025 
     6,250,598  
    $0.54  
     6.0  
    $- 

As of March 31, 2025, the Company had unrecognized
stock-based compensation expense for the stock options in the 2013 BA Plan of approximately $5.1 million which is expected to be expensed
over the weighted average remaining service