Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 279

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 1B
Chunk 279
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 ended on September 30, 2024, whereby his salary was reduced from
$270,000 per year to $150,000 per year.

Potential
Payments on Change in Control or Termination without Cause under November RSU Grants

The
employment agreements for Mr. Lai, Mr. Lowenthal, and Mr. Meyer do not contain any provisions providing for the acceleration of any salary
or bonus payments if there is a change in control. The RSU Grants awarded to Mr. Lai, Mr. Folkes, and Mr. Meyer on September 9, 2021,
and to Mr. Folkes on April 14, 2021 pursuant to our Equity Incentive Plan contain provisions that provide for accelerated vesting of
the RSUs if there is a change of control of the Company (as such term is defined in the Equity Incentive Plan). In addition, if Mr. Lai,
Mr. Folkes, or Mr. Meyer is terminated without cause, any RSUs that would have vested on or before the first anniversary of such termination
had the executive remained employed shall be accelerated and deemed to have vested as of the termination date. Any time-based Restricted
Shares that have not vested as described above may not be transferred and will be forfeited on the date the Named Executive Officer’s
employment with the Company terminates.

ITEM
12. SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

As
of July 10, 2025 (the “Record Date”), we had 24,388,731 shares of our common stock issued and outstanding. The following
table sets forth, as of the Record Date, information concerning the beneficial ownership of shares of our common stock held by our directors,
our named executive officers, our directors, and executive officers as a group, and each person known by us to be a beneficial owner
of more than 5% of our outstanding common stock. Unless otherwise indicated, the business address of each of our directors, executive
officers, and beneficial owners of more than 5% of our outstanding common stock is c/o PetVivo Holdings, Inc., 5151 Edina Industrial
Blvd. Suite 575, Edina, MN 55439. Each person has sole voting and investment power with respect to the shares of our common stock, except
as otherwise indicated. Beneficial ownership consists of a direct interest in the shares of common stock, except as otherwise indicated.

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