Company: BIVIW
Filing Date: 2025-08-04
Form Type: S-1/A
Source: 0001520138-25-000235
Chunk: 183

Company: BIOVIE INC.
Filing Date: 2025-08-04
Form: S-1/A
Chunk 183
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4 as a result of the modification.

In connection with the separation, the Company canceled
18,396 unvested stock options and 1,030 unvested RSUs. Additionally, the Company canceled an additional 13,416 unvested stock options
for employees that voluntarily left the company.

In June 2023, the Company issued 14,950 RSUs with
a grant date fair value of $41.10 per share to the President and CEO under the Company’s 2019 Omnibus Plan. The RSUs vest in three
equal annual installments beginning on the first anniversary grant date. 4,983 RSUs vested in June 2024.

In June 2024, the Company issued 85,800 RSUs to employees,
with a grant date fair value of $4.74 per share. The RSUs vested on the grant date. The Company delivered the vested portion of the RSU’s
and issued 85,800 shares of Common Stock, of which 21,450 shares were withheld in Treasury stock in exchange for payment of withholding
tax on behalf of the employees.

The following table summarizes vesting of restricted
stock units:

| Schedule of vesting of restricted common stock |     | Number of Shares |          |   |     | Weighted Average Grant Date Fair Value Per Share |       |
|:-----------------------------------------------|:----|:-----------------|---------:|:--|:----|:-------------------------------------------------|------:|
| Unvested at June 30, 2022                      |     |                  |   12,452 |   |     | $                                                | 16.90 |
| Granted                                        |     |                  |   68,711 |   |     |                                                  | 58.87 |
| Vested                                         |     |                  |  (21,518 | ) |     |                                                  | 52.70 |
| Unvested at June 30, 2023                      |     |                  |   59,646 |   |     | $                                                | 52.40 |
| Issued                                         |     |                  |  104,070 |   |     |                                                  |  9.16 |
| Vested                                         |     |                  | (122,395 | ) |     |                                                  | 16.94 |
| Canceled                                       |     |                  |   (1,030 | ) |     |                                                  | 61.20 |
| Unvested at June 30