Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1238

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 2
Chunk 1238
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 payment) of Mr. Larson’s medical insurance premiums at
the same level as was in effect on the termination date for a period of six months, which period will increase to 18 months if such termination
of employment occurs within three months before or within 12 months after the occurrence of a change in control.

Mr.
Larson’s employment agreement contains restrictive covenants relating to non-disclosure of confidential information, assignment
of inventions, and non-solicitation and non-competition covenants that run for a period of 12 months following his termination of employment
for any reason.

94

Option
Awards Granted During the Year Ended March 31, 2025

On
March 26, 2025, Messrs. Lisi, Avniel, Gaul and Larson were granted options to purchase 950,000, 300,000, 400,000 and 350,000 shares of
our common stock, respectively, with an exercise price of $0.2946 per share, which was equal to the closing price of our common stock
on the date of grant. The options vest in equal annual installments over four years commencing on December 31, 2025.

On
April 19, 2024, Messrs. Lisi, Gaul and Larson were granted options to purchase 459,000, 382,000, 12,750 and 12,750 shares of NeuroNos’
common stock, respectively, with an exercise price of $0.14 per share, which was based on a third party valuation on the date of grant. 25% of the options vested in March 2025, with 25% vesting each year over three years
commencing on December 31, 2025.

Outstanding
Equity Awards as of March 31, 2025

    Equity awards
  
    Name 
    Date of Grant 
    Number of securities underlying unexercised options (#) exercisable  
    Number of securities underlying unexercised options (#) unexercisable  
    Equity incentive plan awards: Number of securities underlying unexercised unearned options (#)  
    Option exercise price ($)  
    Option expiration date  
    Number of shares or units of stock that have not vested (#)  
    Market value of shares or units of stock that have not vested ($) (5) 
  
    Steven A. Lisi 
    08/31/2018