Company: BIVIW
Filing Date: 2025-08-08
Form Type: 424B5
Source: 0001520138-25-000247
Chunk: 179

Company: BIOVIE INC.
Filing Date: 2025-08-08
Form: 424B5
Chunk 179
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 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, 2024                      |     |                  |   40,291 |   |     | $                                                | 44.59 |

F-20

| 9. | Equity Transactions (continued) |

The total stock-based compensation expense from restricted
stock units for the year ended June 30, 2024 and 2023 was approximately $1.8 million and $1.8 million, respectively.

Issuance of Common Stock through exercise of Stock Options and Warrants

In December 2022, the Company issued 2,209 shares
of Common Stock pursuant to a cashless exercise of stock options to purchase 9,930shares at an average exercise price of $76.40.

In November 2022, the Company issued 80 shares of
Common Stock pursuant to a cash exercise of stock options to purchase 80 shares at an average exercise price of $28.00 per share.

In October 2022, the