Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 353

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 16
Chunk 353
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-  Options  
    Aggregate Intrinsic Value (thousands) 

    Options outstanding as of March 31, 2023 
     8,198,881  
    $5.83  
     8.4  
    $8,306 
  
    Granted 
     3,789,500  
     1.70  

    Exercised 
     (42,500) 
     5.10  

    Forfeited 
     (662,412) 
     5.98  

    Options outstanding as of March 31, 2024 
     11,283,469  
    $4.45  
     8.0  
    $760 
  
    Granted 
     4,566,000  
     0.32  
     9.5  

    Exercised 
     -  
     -  

    Forfeited 
     (1,065,496) 
     3.11  

    Outstanding as of March 31, 2025 
     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