Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1223

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 2
Chunk 1223
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) filing requirements as of June 18, 2025 as follows:

(i)Mr. Lisi filed his form 4 regarding 2 transactions as of September 26, 2024 late on October 1, 2024;

(ii)Mr. Carey filed his form 4 regarding 4 transactions as of September 26, 2024 late on October 1, 2024.

Board Committees

Our Board of Directors has established
four standing committees: the audit committee, the compensation committee, the nominating committee and the compliance committee. The
current members of our audit committee are Erick Lucera and Robert F. Carey with Erick Lucera serving as chairperson. The current members
of our compensation committee are Yoori Lee and Erick J. Lucera, with Yoori Lee serving as chairperson. The current members of our nominating
committee are Erick Lucera, Yoori Lee and Dr. William Forbes, with Erick Lucera serving as chairperson. The compliance committee currently
has four members.

Our Board of Directors has determined
that Erick Lucera and Robert F. Carey meet the additional test for independence for audit committee members imposed by SEC regulations
and Section 5605(c)(2)(A) of the Nasdaq Stock Market listing rules and that Erick J. Lucera and Yoori Lee meet the additional test for
independence for compensation committee members imposed by Section 5605(d)(2)(A) of the Nasdaq Stock Market listing rules.

87

Audit Committee

The primary purpose of our audit
committee is to assist the Board of Directors in the oversight of the integrity of our accounting and financial reporting process, the
audits of our consolidated financial statements, and our compliance with legal and regulatory requirements. It also oversees internal
controls and discusses Company policies related to risk assessment and risk management, including cybersecurity matters. Our audit committee
met five times during the fiscal year ended March 31, 2025. The functions of our audit committee include, among other things:

    ●
    hiring the independent registered public accounting firm to conduct the annual audit of our consolidated financial statements and monitoring its independence and performance; 

    ●
    reviewing and approving the planned scope of the annual audit and the results of the annual audit; 

    ●
    pre-approving all audit services and permissible non-audit services provided by our independent registered public accounting firm;

    ●
    reviewing the significant accounting and reporting principles to understand their impact on our consolidated financial statements;