Company: XAIR
Filing Date: 2025-06-20
Form Type: 10-K
Source: 0001641172-25-015750
Chunk: 1099

Company: Beyond Air, Inc.
Filing Date: 2025-06-20
Form: 10-K
Item: Item 1C
Chunk 1099
---
 set forth above, none
of our directors, executive officers, significant employees, promoters or control persons has been involved in any legal proceeding in
the past ten years that would require disclosure under Item 401(f) of Regulation S-K promulgated under the Securities Act.

Delinquent Section 16(a) Reports

Section 16(a) of Exchange Act
requires our directors, executive officers and persons who own more than 10% of our outstanding shares of common stock (“Ten Percent
Holders”) to file with the SEC reports of their share ownership and changes in their share ownership of our common stock. Directors,
executive officers and ten percent holders are also required to furnish us with copies of all ownership reports they file with the SEC.
To our knowledge, based solely on a review of the copies of such reports furnished to us, the following directors, executive officers
and 10% holders did not comply with all Section 16(a) filing requirements as of June 18, 2025 as follows:

(i)Mr. Lisi filed his form 4 regarding 2 transactions as of September 26, 2024 late on October 1, 2024;

(ii)Mr. Carey filed his form 4 regarding 4 transactions as of September 26, 2024 late on October 1, 2024.

Board Committees

Our Board of Directors has established
four standing committees: the audit committee, the compensation committee, the nominating committee and the compliance committee. The
current members of our audit committee are Erick Lucera and Robert F. Carey with Erick Lucera serving as chairperson. The current members
of our compensation committee are Yoori Lee and Erick J. Lucera, with Yoori Lee serving as chairperson. The current members of our nominating
committee are Erick Lucera, Yoori Lee and Dr. William Forbes, with Erick Lucera serving as chairperson. The compliance committee currently
has four members.

Our Board of Directors has determined
that Erick Lucera and Robert F. Carey meet the additional test for independence for audit committee members imposed by SEC regulations
and Section 5605(c)(2)(A) of the Nasdaq Stock Market listing rules and that Erick J. Lucera and Yoori Lee meet the additional test for
independence for compensation committee members imposed by Section 5605(d)(2)(A) of the Nasdaq Stock Market listing rules.

87

Audit Committee

The primary purpose of our audit
committee is to