Company: BIVIW
Filing Date: 2025-09-25
Form Type: DEF 14A
Source: 0001520138-25-000287
Chunk: 38

Company: BIOVIE INC.
Filing Date: 2025-09-25
Form: DEF 14A
Chunk 38
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ING JUNE 30, 2026.</div>

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<div align='center'>PROPOSAL NO. 3

VOTE TO APPROVE AN AMENDMENT AND RESTATEMENT OF THE 2019 OMNIBUS EQUITY INCENTIVE PLAN</div>

To approve an amendment and restatement of Biovie’s 2019 Omnibus
Equity Incentive Plan (the “2019 Plan”) to increase the number of shares of common stock authorized for issuance under the
2019 Plan to 3,100,000 shares, which in combination with the shares remaining available under the 2019 Plan prior to amendment equals
approximately 20% of the issued and outstanding shares of common stock on a fully diluted basis including for purposes of this calculation
as if such shares authorized under the 2019 Plan were included in the denominator, and exercise vesting of all issued and outstanding
RSUs and stock options as of September 22, 2025. A copy of the amended and restated 2019 Plan is attached hereto as Appendix A and is
incorporated by reference into this Proxy Statement.

Background

The 2019 Plan was originally effective on May 29, 2019. On August 28, 2024,
the Board unanimously approved the amendment and restatement of the 2019 Plan to increase the number of shares of common stock authorized
for issuance under the 2019 Plan to 1,250,000 shares and extend the duration for ten years from such date (the “2024 Restatement”).
The 2024 Restatement was approved at the 2024 annual meeting of stockholders on November 7, 2024. On July 7, 2025, the Company effected
a 1:10 reverse split of its common stock. After giving effect to the reverse stock split, 54,182 shares of common stock remain available
for grant under the 2019 Plan as of September 22, 2025.

On September 19, 2025, the Board approved a subsequent amendment and restatement
of the 2019 Plan, subject to approval by the stockholders, to increase the number of shares of common stock authorized for issuance under
the 2019 Plan to 3,100,000 shares and extend the duration for ten years from such date (the “2025 Restatement”). The Board
believes that our interests and the interests of our stockholders will be