Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 30

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part I, Item 1
Chunk 30
---
 - 
  
    Exercised 
     -  
     -  
     -  
     - 
  
    Forfeited 
     (13,007) 
     9.28  
     -  
     - 
  
    Outstanding as of June 30, 2025 
     728,262  
    $9.33  
     7.7  
    $- 
  
    Exercisable as of June 30, 2025 
     308,737  
    $10.80  
     5.8  
    $- 

As
of June 30, 2025, the Company had unrecognized stock-based compensation expense for the stock options in the 2013 BA Plan of approximately
$4.1 million, which is expected to be expensed over the weighted average remaining service period of 1.7 years.

For
the three months ended June 30, 2025, the weighted average fair value of options granted, adjusted for the 2025 Reverse Stock Split, was $3.23 per share.

    16

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE
4 STOCKHOLDERS’ EQUITY (continued)

The
Company’s 2021 Beyond Cancer Ltd Equity Incentive Plan (the “2021 BC Plan”) allows for awards to officers, directors,
employees, and consultants of stock options, restricted stock units and restricted shares of Beyond Cancer’s common shares. The
vesting terms of the options issued under the 2021 BC Plan are generally four years and they expire ten years from the grant date. On
November 3, 2022, the Company’s Board of Directors approved an amendment to reserve for issuance an additional 2,000,000 shares
of common stock. The 2021 BC Plan has 4,000,000 shares authorized for issuance. As of June 30, 2025, 1,588,000 common shares were available
under the 2021 BC Plan.

 SCHEDULE
OF OPTION ACTIVITY FOR BEYOND
CANCER 

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