Company: PETVW
Filing Date: 2025-07-10
Form Type: 10-K
Source: 0001641172-25-018617
Chunk: 835

Company: PetVivo Holdings, Inc.
Filing Date: 2025-07-10
Form: 10-K
Item: Item 7
Chunk 835
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-producing company. As such, the Compensation
Committee awarded discretionary bonuses to the Named Executives and other employees. The Compensation Committee awarded discretionary
bonuses to Mr. Lai, Mr. Folkes, and Mr. Meyers for their services in fiscal 2022 in the amounts of $20,000, $100,000, and $30,000, respectively.
The Company paid these bonuses to the Named Executive Officers in July 2022.

In
November 2022, the Company established target bonuses for a bonus plan for its Named Executives with performance targets based on total
revenues and individual objectives for fiscal 2023. The Company did not achieve its revenue target for fiscal 2023, so the Named Executives
did not receive performance bonuses under the Bonus Plan. As such, the Compensation Committee did not award discretionary bonuses to
any Named Executive Officers in fiscal 2023.

In
November 2023, the Company established target bonuses for a bonus plan for its Named Executive Officers with performance targets based
on total revenues and individual objectives for fiscal 2024. The Company did not achieve its revenue target for fiscal 2024, so the Named
Executive Officers did not receive performance bonuses under the Bonus Plan.

During
the fiscal year 2025, the Compensation Committee approved a cash bonus of $25,000 to each of Mr. Lai and Mr. Lowenthal. The Compensation
Committee also approved $25,000 worth of the Company’s restricted common stock to each of Mr. Lai and Mr. Lowenthal as bonus compensation.
Also during the year, shares of stock were issued to John Lai and Garry Lowenthal for signing bonus (Lowenthal) and for periodic quarterly
performance stock bonuses (Lai and Lowenthal). The total stock awards are illustrated in the above summary compensation table.

39

Equity
Compensation

Our
Compensation Committee administers our 2020 Equity Incentive Plan (the “Equity Incentive Plan”) and approves the amount of,
and terms applicable to, grants of stock options, restricted stock units, and other types of equity awards to employees, including the
Named Executive Officers. The Equity Incentive Plan permits the grant of incentive stock options, non-statutory stock options, stock
appreciation rights, restricted stock, restricted stock units (“RSUs), and stock bonus awards (all such types of awards, collectively,
“equity awards”), although incentive stock options may only be granted