Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 134

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 13
Chunk 134
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 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 16,600,000
shares authorized for issuance. As of March 31, 2025, 682,229 shares were available under the 2013 BA Plan.

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 years ended March 31, 2025 and March 31, 2024 is as follows:

SCHEDULE OF RESTRICTED STOCK AWARDS

    Number Of Shares  
    Weighted  Average Grant Date Fair  Value 

    Unvested as of March 31, 2023 
     1,101,100  
    $6.78 
  
    Granted 
     1,000  
     5.65 
  
    Vested 
     (349,400) 
     6.49 
  
    Forfeited 
     (133,800) 
     6.56 
  
    Unvested as of March 31, 2024 
     618,900  
    $6.98 
  
    Granted 
     -  
     - 
  
    Vested 
     (244,800) 
     6.86 
  
    Forfeited 
     (8,800) 
     11.48 
  
    Unvested as of March 31, 2025 
     365,300  
    $6.97 

Stock-based compensation expense related to these
grants for the years ended March 31, 2025 and March 31, 2024 was $1.0 million and $2.2 million, respectively.

As of March 31, 2025,
the Company had unrecognized stock-based compensation expense for the restricted stock unit awards in the 2013 BA Plan of
approximately $0.8
million which is expected to be expensed over the weighted average remaining service period of 1.6
years. For the year ended March 31,