SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2025-10-06
Accession Number: 0001493152-25-016953
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315225016953/filename1.htm

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(the “Board”) or one more committees or subcommittees of the Board, which will be comprised, unless otherwise determined by the Board, solely of not less than two members who will be non-employee directors (a “Committee”), or any officer that has been delegated administrative authority pursuant to the 2025 Plan for the duration such delegation is in effect (collectively, the “Administrator”). The Administrator, which initially will be the Board with respect to awards to non-employee directors and the Compensation Committee of our Board with respect to other participants. The Administrator will have the authority to make all determinations and interpretations under, prescribe all forms for use with, and adopt rules for the administration of the 2025 Plan, subject to the 2025 Plan’s express terms and conditions. The Administrator will also set the terms and conditions of all awards under the 2025 Plan, including any vesting and vesting acceleration conditions. Share Reserve

The
maximum aggregate number of Shares that may be issued under the 2025 Plan is the sum of (A) any shares that are available for issuance
under the 2024 Plan as of the Effective Date, plus (B) an increase commencing on January 1, 2026, and continuing annually on each anniversary
thereof through and including January 1, 2035, equal to the lesser of (i) [__]% of the Shares outstanding on the last day of the immediately
preceding calendar year and (ii) such smaller number of Shares as determined by the Board or the Committee.

Shares may be issued upon the exercise of incentive stock options.

Shares
issuable under the 2025 Plan may be authorized, but unissued, or reacquired shares. Shares underlying any awards under the 2025 Plan
that are settled in cash, forfeited, canceled, repurchased, held back upon exercise of an option or settlement of an award to cover the
exercise price or tax withholding satisfied without the issuance of stock or otherwise terminated (other than by exercise) will be added
back to the Shares available for issuance under the 2025 Plan, although Shares shall not again become available for issuance as incentive
stock options. Additionally, Shares issued as “substitute awards” (as defined in the 2025 Plan) will not count against the
2025 Plan’s share limit, except substitute awards that are incentive stock options will count against the incentive stock option
limit.

The
share reserve described herein may be subject to certain adjustments in the event of certain changes in our capitalization (see Equitable Adjustments below).

Annual
Limitation on Awards to Non-Employee Directors

The
2025 Plan contains a limitation whereby the value of all awards under the 2025 Plan and all other cash compensation paid by us
to any non-employee director may not exceed $950,000 for the first calendar year a non-employee director is initially appointed to the
Board, and $700,000 in any other calendar year.

Types
of Awards

The
2025 Plan provides for the grant of stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards,
dividend equivalent awards, and other stock- or cash-based awards (collectively, “awards”).

Stock
Options. The 2025 Plan permits the granting of both options intended to qualify as incentive stock options under Section 422 of the
Internal Revenue Code of 1986, as amended (the “Code”) and options that do not so qualify. Options granted under the 2025
Plan will be nonqualified options if they fail to qualify as incentive stock options or exceed the annual limit on incentive stock options.
Incentive stock options may only be granted to employees of the Company and its subsidiaries. Nonqualified options may be granted to
any persons eligible to receive awards under the 2025 Plan.

The
exercise price of each option will be determined by the Administrator, but such exercise price may not be less than 100% of the fair
market value of one Share on the date of grant or, in the case of an incentive stock option granted to a 10% or greater stockholder,
110% of such Share’s fair market value. The term of each option will be set by the Administrator and may not exceed ten (10) years
from the date of grant (or five (5) years for an incentive stock option granted to a 10% or greater stockholder). The Administrator will
determine at what time or times each option may be exercised, including the ability to accelerate the vesting of such options.

Stock
Appreciation Rights. The Administrator may award stock appreciation rights subject to such conditions and restrictions as it may
determine. Stock appreciation rights entitle the recipient to Shares or cash, equal to the value of the appreciation in our
stock price over the exercise price, as set by the Administrator and which will be at least equal to the fair market value of a
Share on the grant date. The term of each stock appreciation right will be set by the Administrator and may not exceed ten years
from the date of grant. The Administrator will determine at what time or times each stock appreciation right may be exercised,
including the ability to accelerate the vesting of such stock appreciation rights.

Restricted
Stock. A restricted stock award is an award of Shares that vests in accordance with the terms and conditions established by the Administrator.
The Administrator will determine the persons to whom grants of restricted stock awards are made, the number of restricted shares to be
awarded, the price (if any) to be paid for the restricted shares, the time or times within which awards of restricted stock may be subject
to forfeiture, the vesting schedule and rights to acceleration thereof, and all other terms and conditions of restricted stock awards.
Unless otherwise provided in the applicable award agreement, a participant generally will have the rights and privileges of a stockholder
as to such restricted shares, including without limitation the right to vote such restricted shares and the right to receive cash dividends,
if applicable.

Restricted
Stock Units. Restricted stock units are the right to receive Shares at a future date in accordance with the terms of such grant upon
the attainment of certain conditions specified by the Administrator. Restrictions or conditions could include, but are not limited to,
the attainment of performance goals, continuous service with the Company or its subsidiaries, the passage of time or other restrictions
or conditions. The Administrator determines the persons to whom grants of restricted stock units are made, the number of restricted stock
units to be awarded, the time or times within which awards of restricted stock units may be subject to forfeiture, the vesting schedule,
and rights to acceleration thereof, and all other terms and conditions of the restricted stock unit awards. The value of the restricted
stock units may be paid in Shares, cash, other securities, other property, or a combination of the foregoing, as determined by the Administrator.

The
holders of restricted stock units will have no voting rights. Prior to settlement or forfeiture, restricted stock units awarded under
the 2025 Plan may, at the Administrator’s discretion, provide for a right to dividend equivalents.

Performance
Awards. The Administrator has the authority to grant stock options, stock appreciation rights, restricted stock, or restricted stock
units as a performance award, which means that such awards vest at least in part upon the attainment of one or more specified performance
criteria. For each performance period, the Administrator will have the sole authority to select the length of such performance period,
the types of performance awards to be granted, the performance criteria that will be used to establish the performance goals, and the
level(s) of performance which shall result in a performance award being earned. At any time, the Administrator may adjust or modify the
calculation of a performance goal for a performance period to appropriately reflect any circumstance or event that occurs during a performance
period and that, in the Administrator’s sole discretion, warrants adjustment or modification. Depending on the type of performance
award granted, the previously discussed terms and conditions will also apply to a performance award.