Company: XAIR
Filing Date: 2025-08-12
Form Type: 10-Q
Source: 0001641172-25-023243
Chunk: 80

Company: Beyond Air, Inc.
Filing Date: 2025-08-12
Form: 10-Q
Item: Part II, Item 8
Chunk 80
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 restricted stock units and restricted shares of the
Company’s common stock. On October 11, 2024, the Company’s Board of Directors (the “Board”) approved an
amendment to the 2013 BA Plan to increase the number of shares in the 2013 BA Plan by 150,000 and to provide the Board the requested authority to (i) modify
the exercise or grant price of an option or stock appreciation right after it is granted, (ii) cancel an option or stock appreciation
right at a time when its exercise or grant price exceeds the fair market value of the underlying stock, in exchange for cash, another
option or stock appreciation right, restricted stock, or other equity award, or (iii) take any other action that is treated as a repricing
under generally accepted accounting principles. This amendment was approved by the Company’s stockholders at the 2025 annual stockholder meeting on November 22, 2024. The 2013 BA Plan has 830,000
shares authorized for issuance. As of June 30, 2025, 46,372
shares were available under the 2013 BA Plan.

    15

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 three months ended June 30, 2025 is as follows:

SCHEDULE OF RESTRICTED STOCK AWARDS 

    Number Of
                                                                                Shares  
    Weighted Average Grant Date Fair Value 

    Unvested as of March 31, 2025 
     18,265  
    $139.40 
  
    Granted 
     -  
     - 
  
    Vested 
     -  
     - 
  
    Forfeited 
     -  
     - 
  
    Unvested as of June 30, 2025 
     18,265  
    $139.40 

Stock-based
compensation expense related to these stock issuances for the three months ended June 30, 202