Company: BIAF
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001641172-25-001840
Chunk: 935

Company: bioAffinity Technologies, Inc.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 9
Chunk 935
---
31, 2024, 208,031 options were exercised at an exercise price of $1.155, of which 143,183 options were from a cashless exercise, and 137,854 options were forfeited due to a cashless exercise.

    F-14

Restricted
Stock Awards

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

SUMMARY OF RESTRICTED STOCK AWARD

    As of December 31, 2024 

    Number
    of restricted stock awards (RSA)  
    Weighted-
    average grant price  
    FMV
    on grant date  
    Vested
    number of RSA  
    Unvested
    number of RSA 
  
    Balance at December 31, 2023 
     540,969  
    $2.24  
    $1,209,400  
     462,298  
     78,671 
  
    Granted 
     865,423  
     1.81  
     1,570,834  
     517,941  
     347,482 
  
    Forfeited 
     (77,096) 
     1.80  
     (139,173) 
     —  
     (77,096)
  
    Balance at December 31, 2024 
     1,329,296  
    $2.24  
    $2,641,061  
     980,239  
     349,057 

During
the year ended December 31, 2024, the Company issued restricted stock awards (“RSAs”) for 865,423 shares of Common Stock to employees,
non-employees, and the Board of Directors. The shares vest in equal monthly installments over terms of between immediately up to three
years, subject to the employees and non-employees providing continuous service through the vesting date. During the year ended December
31, 2024, 31,973 shares vested from RSAs granted prior to January 1, 2024, and 517,943 shares vested from RSAs granted during the year
ended December 31, 2024.

During
the year ended December 31, 2023, the Company issued RSAs for 431,028 shares of Common Stock to employees and non-employees. The shares