Company: BIAF
Filing Date: 2025-04-29
Form Type: 10-K/A
Source: 0001641172-25-006707
Chunk: 21

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-04-29
Form: 10-K/A
Chunk 21
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 and dispose of the shares beneficially owned by the Phyllis Sandler Revocable Trust and the Harvey Sandler Revocable Trust.                  |
| (10) | Includes                                                                                                                                     
 (i) 66,615 shares of Common Stock owned by Dr. Joyce, including 11,264 shares of unvested restricted stock as to which Dr. Joyce has         
 the right to vote, but not to dispose; (ii) 583,130 shares of Common Stock owned by the Joyce Living Trust; and (iii) an aggregate           
 of 19,999 shares of Common Stock issuable upon exercise of warrants held by the Joyce Living Trust that are currently exercisable.           
 Dr. Joyce is co-trustee of the Joyce Living Trust, together with his wife, Joyce M. Joyce, each of whom may act unilaterally with            
 regard to voting and disposition power over the shares held by the Joyce Living Trust. The Joyce Living Trust has an address at 1092         
 Madeline Street, New Braunfels, Texas 78132.                                                                                                 
 For                                                                                                                                          
 the information regarding our equity compensation plans, see PART II, Item 5 in the Original Filing, “Market for Registrant’s Common Equity, 
 Related Stockholder Matters and Issuer Purchases of Equity Securities.”                                                                      |

| 15 |

Item 13. Certain Relationships and Related Transactions, and Director Independence.

Director Independence

The Company’s Common Stock is listed on the Nasdaq Capital Market (“ Nasdaq”). The Nasdaq Stock Market LLC Rules (the “ Nasdaq Rules”) require that a majority of the Board be “independent directors,” as defined in Nasdaq Rule 5605(a)(2). The Nasdaq listing standards subject members of the Company’s Audit Committee and Compensation Committee to additional independence requirements. The Board has affirmatively determined that each of the Company’s current non-employee directors, which include Messrs. Robert Anderson, Stuart Diamond, Peter Knight and Gary Rubin, and Dr. Jamie Platt are independent directors under the Nasdaq Rules and listing standards, including with respect to each director’s committee service.

Related-Party Transactions

In addition to the compensation arrangements with directors and executive officers described under Part III, Item 11 “Executive Compensation” of this Amendment the following is a description of each transaction since January 1, 2023, and each currently proposed transaction in which:

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 Company was or is to be a participant;                                                                                      |
| ● | the                                                                                                                         
 amount