Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 34

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 34
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 the weighted average remaining service period is
1.85 years.

A
summary of the change in options for the nine months ended December 31, 2024 is as follows: 

SCHEDULE OF OPTION ACTIVITY 

    Number of Options  
    Weighted Average Exercise Price of Options  
    Weighted Average Remaining Contractual Life of Options  
    Aggregate Intrinsic Value (in thousands) 

    Options outstanding as of April 1, 2024 
     11,283,469  
    $4.45  
     8.0  
    $760 
  
    Granted 
     172,500  
     0.44  
     9.5  
     - 
  
    Exercised 
     -  
     -  
     -  
     - 
  
    Forfeited 
     (861,371) 
     -  
     -  
     - 
  
    Outstanding as of December 31, 2024 
     10,594,598  
    $0.55  
     7.3  
    $- 
  
    Exercisable as of December 31, 2024 
     6,306,723  
    $0.56  
     6.3  
    $- 

On
November 22, 2024, the stockholders of the Company voted to, among other things, approve the Company’s Seventh Amended and Restated
2013 Equity Incentive Plan (the “Amended 2013 Plan”) to increase the number of shares of common stock reserved for issuance
by an additional 3,000,000 shares, and to give the Board authority, without stockholder approval, to (i) modify the exercise or grant
price of an option or stock appreciation right after it is granted, (ii) cancel an option or stock appreciation right at a time when
its exercise or grant price exceeds the Fair Market Value of the underlying stock, in exchange for cash, another option or stock appreciation
right, restricted stock, or other equity award, or (iii) take any other action that is treated as a repricing under generally accepted
accounting principles.

On
November 22, 2024, the Board approved a one-time stock option repricing of 10,586,473
options (“Option Repricing”), effective November