Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1795

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 6
Chunk 1795
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 of the State of Delaware on November 25, 2024.

    F-21

BEYOND AIR, INC. AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTE 4 STOCKHOLDERS’ EQUITY (continued)

Stock Option Plans

The Company’s Sixth Amended and Restated 2013
Beyond Air Equity Incentive Plan (the “2013 BA Plan”) allows for awards to officers, directors, employees, and consultants
of stock options, restricted stock units and restricted shares of the Company’s common stock. On January 10, 2024, the Company’s
Board of Directors approved an amendment to 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 
  
    Un