Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 287

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 15
Chunk 287
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     14,783,973  
    $0.47  
     7.9  
    $- 
  
    Exercisable as of March 31, 2025 
     6,250,598  
    $0.54  
     6.0  
    $- 

As of March 31, 2025, the Company had unrecognized
stock-based compensation expense for the stock options in the 2013 BA Plan of approximately $5.1 million which is expected to be expensed
over the weighted average remaining service period of 1.9 years. For the years ended March 31, 2025 and March 31, 2024, the weighted average
fair value of options granted was $0.47 and $1.20 per share, respectively.

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 22, 2024 (“Effective Date”).
The repricing was undertaken in accordance with, and as permitted by, the Company’s Amended 2013 Plan. Pursuant to the Option Repricing,
all options granted pursuant to the Amended 2013 Plan that are held by Company Board members, officers, and employees expected to continue
providing services to the Company were repriced, to the extent such options had an exercise price in excess of $0.54, the closing price
per share of the Common Stock as reported on The Nasdaq Stock Market on November 22,