Company: XAIR
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001493152-25-021561
Chunk: 24

Company: Beyond Air, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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The
Company’s 2021 Beyond Cancer Ltd Equity Incentive Plan (the “2021 BC Plan”) allows for awards to officers, directors,
employees, and consultants of stock options, restricted stock units and restricted shares of Beyond Cancer’s common shares. The
vesting terms of the options issued under the 2021 BC Plan are generally four years and they expire ten years from the grant date. On
November 3, 2022, the Company’s Board of Directors approved an amendment to reserve for issuance an additional 2,000,000 shares
of common stock. The 2021 BC Plan has 4,000,000 shares authorized for issuance. As of September 30, 2025, 1,588,000 common shares were
available under the 2021 BC Plan.

A
summary of the change in stock options for Beyond Cancer for the six months ended September 30, 2025 is as follows:

SCHEDULE
OF OPTION ACTIVITY FOR BEYOND CANCER 

    Number
                                            of Options  
    Weighted Average Exercise Price
                                            of Options  
    Weighted Average Remaining Contractual Life
                                            of Options  
    Aggregate Intrinsic Value (thousands) 

    Options outstanding as of March 31, 2025 
     2,816,250  
    $5.50  
     7.2  
    $       - 
  
    Granted 
     -  
     -  
     -  
     - 
  
    Exercised 
     -  
     -  
     -  
     - 
  
    Forfeited 
     (404,250) 
     5.50  
     -  
     - 
  
    Outstanding as of September 30, 2025 
     2,412,000  
    $5.50  
     6.7  
    $- 
  
    Exercisable as of September 30, 2025 
     1,516,500  
    $5.50  
     6.6  
    $- 

As
of September 30, 2025, the Company had unrecognized stock-based compensation expense for the stock options in the 2021 BC Plan of approximately
$1.1 million, which is expected to be expensed over the weighted average