Company: PETVW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023398
Chunk: 33

Company: PetVivo Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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 the conversion of $1,850,000
    in convertible notes plus accrued interest of $168,154.

     21 

Time-Based
Restricted Stock Units

The
Company has granted time-based restricted stock units to certain participants under the 2020 Plan that are stock settled with common
shares. Time-based restricted stock units granted under the 2020 Plan vest over three years. Stock-based compensation expense for time-based
restricted stock units was $42,500 and $91,149 for the three months ended September 30, 2025, and 2024, respectively and $93,409 and
$227,724 for the six months ended September 30, 2025, and 2024, respectively. As of September 30, 2025, there was approximately $18,000
of total unrecognized compensation expense related to time-based restricted stock units that is expected to be recognized over a weighted-average
period of four months.

Time-based
restricted stock unit activity for the six months ended September 30, 2025 was as follows:

SCHEDULE OF TIME BASED RESTRICTED STOCK UNITS 

    Units Outstanding  
    Weighted Average Grant Date Fair Value Per Unit  
    Aggregate Intrinsic Value (1) 
  
    Balance at March 31, 2025 
     205,314  
     0.58  
    $4,106 
  
    Vested 
     (165,314) 
     0.59  

    Cancelled 
     -  
     -  

    Balance at September 30, 2025 
     40,000  
    $0.55  
    $22,000 

    (1)
    The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards
and the closing price of the Company’s common stock, which was $1.10 per share on September 30, 2025 and $.60 per share on March
31, 2025.

Stock
Options

Stock
options issued to employees and directors typically vest over three
years (one
year for directors) and have a contractual term of three 3 to seven years. Stock-based compensation expense for stock options
was $5,508 and $148,614 for the three months ended September 30, 2025, and 2024, respectively and $13,772 and $321,939 for the six
months