Company: BIAF
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010787
Chunk: 58

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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     — 

    Vested and exercisable at March 31, 2025 
     304,125  
    $6.95  
     4.20  
     — 

    16

As of March 31, 2025, there was no unrecognized compensation
cost related to non-vested stock options.

The following table summarizes restricted stock award
activity under the 2014 Plan and 2024 Plan:

SUMMARY OF RESTRICTED STOCK AWARD 

    Number of   

    As of March 31, 2025 

    restricted  stock awards  (RSA)  
    Weighted-  average  grant price  
    FMV on  grant date  
    Vested  number  of RSA  
    Unvested  number  of RSA 
  
    Balance at December 31, 2024  
     1,326,861  
    $1.99  
    $2,636,259  
     1,072,838  
     254,023 
  
    Granted  
     253,398  
     0.84  
     212,875  
     66,658  
     186,740 
  
    Forfeited  
     (10,289) 
     0.81  
     (8,334) 
     —  
     (10,289)
  
    Balance at March 31, 2025  
     1,569,970  
    $2.24  
    $2,840,800  
     1,139,496  
     430,474 

During the three months ended March
31, 2025, the Company issued restricted stock awards (“RSAs”) for an aggregate of 243,109
shares of Common Stock to employees, non-employees, and the board of directors. The shares vest in equal monthly installments over
terms of immediately and up to three
years, subject to the employees and non-employees providing continuous service through the vesting date. During the three
months ended March 31, 2025, 92,601
shares vested from RSAs granted prior to January 1, 2025, and 66,658
shares vested from RSAs granted during the three months ended March 31, 2025.

Note