Company: XAIR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021561
Chunk: 22

Company: Beyond Air, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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 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. This amendment was approved by the Company’s stockholders at the 2025 annual stockholder
meeting on November 22, 2024. The 2013 BA Plan has 830,000 shares authorized for issuance. As of September 30, 2025, 48,016 shares were
available under the 2013 BA Plan.

    15

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE
4 STOCKHOLDERS’ EQUITY (continued)

Restricted
Stock Units

The
fair value for the restricted stock unit awards was valued at the closing price of the Company’s common stock on the date of grant.
Restricted stock units vest annually over five years.

A
summary of the Company’s restricted stock unit awards for the six months ended September 30, 2025 is as follows:

 SCHEDULE
OF RESTRICTED STOCK AWARDS

    Number
                                            Of Shares  
    Weighted Average
                                            Grant Date
                                            Fair Value 

    Unvested as of March 31, 2025 
     18,265  
    $139.40 
  
    Granted 
     -  
     - 
  
    Vested 
     -  
     - 
  
    Forfeited 
     -  
     - 
  
    Unvested as of September 30, 2025 
     18,265  
    $139.40 

Stock-based
compensation expense related to these stock issuances for the three months ended September 30, 2025 and September 30, 2024 was $0.2 million
and $0.3 million, respectively.

Stock-based
compensation expense related to these stock issuances for the six months ended September 30, 2025 and September 30, 2024 was $0.3 million
and $0.6 million, respectively.

As
of September 30, 2025, the Company had unrecognized stock-based compensation expense for the restricted stock unit awards