Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 2402

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 9B
Chunk 2402
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 addressed generically to the Board of Directors
will be forwarded to the Chairman of the Board of Directors.

Board Leadership Structure and Role in Risk Oversight

The Board of Directors does not
have a formal policy on whether or not the roles of Chairman of the Board and Chief Executive Officer should be separate and believes
that it should retain the flexibility to make this determination in the manner it believes will provide the most appropriate leadership
for the Company from time to time. Currently, Steven A. Lisi serves as Chairman of the Board and Chief Executive Officer. Robert Carey
is the lead independent director. Mr. Lisi sets the strategic direction for the Company and provides day-to-day leadership. As Chairman
of the Board of Directors, Mr. Lisi further oversees the agenda for board meetings in collaboration with the other board members. Our
Board believes that it is in the best interest of the Company and its stockholders for Mr. Lisi to serve in both roles at this time given
his knowledge of the Company and industry. We believe that this structure provides appropriate leadership and oversight of the Company
and facilitates effective functioning of both management and our Board of Directors. Our Board of Directors will continue to reassess
the structure to determine what is in the best interests of the Company and stockholders.

The Board of Directors oversees
our exposure to risk through its interaction with management and receipt from management of periodic reports outlining matters related
to financial, operational, regulatory, legal and strategic risks. Risk assessment and oversight are an integral part of our governance
and management processes. Our Board of Directors encourages management to promote a culture that incorporates risk management into our
corporate strategy and day-to-day business operations. Management discusses strategic and operational risks at regular management meetings
and conducts specific strategic planning and review sessions during the year that include a focused discussion and analysis of the risks
facing us. Throughout the year, senior management reviews these risks with the Board of Directors at regular board meetings as part of
management presentations that focus on particular business functions, operations or strategies and presents the steps taken by management
to mitigate or eliminate such risks.

Code of Business Conduct and Ethics

We have adopted a Code of Business
Conduct and Ethics that applies to all our directors, officers (including our Chief Executive Officer, Chief Financial Officer and any
person performing similar functions) and employees. We have made our Code of Business Conduct and Ethics available on our website at www.beyondair.net
under “Investors—Governance—Governance Documents”. We expect that any