Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 64

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1
Chunk 64
---
 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).

On
October 19, 2022, the Compensation Committee granted nonqualified stock options of 200,000 shares to Mr. Folkes the vest equally over
a three-year period with 66,667 shares beginning on October 19, 2022. These options will automatically vest if there is a Change in Control
(as defined in our Equity Incentive Plan).

On
February 24, 2022, the Compensation Committee entered into a second amendment to an employment agreement with Mr. Lai pursuant to which
it granted him equity in exchange for salary for the six-month period beginning on March 1, 2023 and ending on August 31, 2023. The Company
granted Mr. Lai totaling 60,600 shares which vest in equal monthly amounts of 10,100 shares beginning March 1, 2023 in lieu of his salary
payments for a six-month period.

For
the grant date fair values of the options and RSUs, please see the Summary Compensation Table above.

Perquisites

We
offer health insurance to our Named Executive Officers on the same basis that these benefits are offered to our other eligible employees.
We offer a 401(k) plan to all eligible employees. The Company also provides other benefits to its Named Executive Officers on the same
basis as provided to all its employees, including vacation and paid holidays