Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 1257

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 9B
Chunk 1257
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) and for periodic quarterly
performance stock bonuses (Lai and Lowenthal). The total stock awards are illustrated in the above summary compensation table.

39

Equity
Compensation

Our
Compensation Committee administers our 2020 Equity Incentive Plan (the “Equity Incentive Plan”) and approves the amount of,
and terms applicable to, grants of stock options, restricted stock units, and other types of equity awards to employees, including the
Named Executive Officers. The Equity Incentive Plan permits the grant of incentive stock options, non-statutory stock options, stock
appreciation rights, restricted stock, restricted stock units (“RSUs), and stock bonus awards (all such types of awards, collectively,
“equity awards”), although incentive stock options may only be granted to employees.

On
April 14, 2021, the Company granted 34,000 RSUs to Mr. Folkes pursuant to the terms of his employment agreement. These RSUs vest over
a three-year period, with 10,000 RSUs vesting on January 1, 2022, 10,000 vesting on January 1, 2023, and 14,000 vesting on January 1,
2024, subject to Mr. Folkes remaining employed at the Company. These RSUs will automatically vest if there is a Change in Control (as
defined in our Equity Incentive Plan).

On
September 9, 2021, the Compensation Committee granted RSUs to Mr. Lai, Mr. Folkes, and Mr. Meyer for their exceptional performance in
assisting the Company in closing its public offering in which it raised $11.2 million in gross proceeds and listed its common stock and
warrants on the NASDAQ Capital Market. The Named Executive Officers received the following RSU grants (“November 2021 RSU Grants”):
Mr. Lai – 150,000 RSUs, Mr. Folkes – 54,000 RSUs, and Mr. Meyer – 65,000 RSUs. These RSUs vest in three installments,
with 1/3 vesting on March 31, 2022, 1/3 vesting on March 31, 2023, and 1/3 vesting on March 31, 2024, based upon continued employment
with the Company. These RSUs will automatically vest if there is a Change in Control (as defined in our Equity Incentive Plan