Company: XAIR
Filing Date: 2025-02-10
Form Type: 10-Q
Source: 0001493152-25-005678
Chunk: 33

Company: Beyond Air, Inc.
Filing Date: 2025-02-10
Form: 10-Q
Item: Part I, Item 1
Chunk 33
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officers, directors, employees, and consultants of stock options, restricted stock units and restricted shares of the Company’s
common stock. On January 10, 2024, the Company’s Board of Directors approved an amendment to the 2013 BA Plan to increase the number
of shares in the 2013 BA Plan by 3,000,000, which was approved by the Company’s stockholders at the 2024 annual stockholder meeting
on March 8, 2024. The 2013 BA Plan has 13,600,000 shares authorized for issuance. As of December 31, 2024, 653,729 shares were available
under the 2013 BA Plan.

     18 

BEYOND
AIR, INC. AND SUBSIDIARIES

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

NOTE
4 STOCKHOLDERS’ EQUITY (continued)

Restricted
Stock Units

The
fair value for the restricted stock unit awards was valued at the closing price of the Company’s common stock on the date of grant.
Restricted stock units vest annually over five years.

A
summary of the Company’s restricted stock unit awards for the nine months ended December 31, 2024 is as follows:

SCHEDULE OF RESTRICTED STOCK AWARDS

    Number Of Shares  
    Weighted Average Grant Date Fair Value 

    Unvested as of April 1, 2024 
     618,900  
    $6.98 
  
    Granted 
     -  
     - 
  
    Vested 
     (242,300) 
     6.86 
  
    Forfeited 
     (8,800) 
     11.48 
  
    Unvested as of December 31, 2024 
     367,800  
    $6.96 

Stock-based
compensation expense related to these stock issuances for the three months ended December 31, 2024 and December 31, 2023 was $0.3 million
and $0.7 million, respectively.

Stock-based
compensation expense related to these stock issuances for the nine months ended December 31, 2024 and December 31, 2023 was $0.9 million
and $2.2 million, respectively. The unrecognized compensation cost is $1.0 million and