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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Date Number of Securities Underlying Unexercised Options (#) Exercisable Number of Securities Underlying Unexercised Options (#) Unexercisable Option Exercise Price ($) Option Expiration Date Number of Shares or Units of Stock That Have Not Vested (#) Market Value of Shares or Units of Stock That Have Not Vested ($) David Richmond 3/18/24 3/18/24 - $ - Chief Executive Officer 9/3/24 9/3/24 18,335 $ 14,668 Ori Ben-Yehuda 3/18/24 3/18/24 - $ - Chief Medical Officer 9/3/24 9/3/24 18,335 $ 14,668 Steve Chartier 3/18/24 3/18/24 - $ - Chief Operating Officer 9/3/24 9/3/24 18,335 $ 14,668 Summary of Material Terms of the 2024 Plan The following is a summary of the material features of the BioVentrix, Inc. 2024 Equity Incentive Plan (the “2024 Plan”). Eligibility The Administrator may grant awards to any director, employee or consultant of the Company or its affiliates. Only employees are eligible to receive incentive stock options. Administration

The
2024 Plan is administered by the Board of Directors (the “Board”) or one more committees or subcommittees of the Board,
(collectively, the “Administrator”). The Administrator has the authority to construe and interpret the 2024 Plan and
the awards granted under it, and to establish, amend, and revoke rules and regulations for its administration. The Administrator may
correct any defect, omission, or inconsistency in the 2024 Plan or in any award in a manner and to the extent it deems necessary or expedient
to make the 2024 Plan fully effective.

Share
Reserve

The
maximum aggregate number of shares of our common stock (the “Shares”) that may be issued under the 2024 Plan

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

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

Types
of Awards

The
2024 Plan provides for the grant of stock options (both incentive stock options and nonqualified stock options) and restricted stock
(collectively, “awards”).

Stock
Options. The 2024 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
2024 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 our employees. Nonqualified
options may be granted to any persons eligible to receive awards under the 2024 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.

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.

Repricing

Notwithstanding
anything to the contrary in the 2024 Plan, unless a repricing is approved by shareholders, the Administrator may not reprice options
granted under the 2024 Plan.

Equitable
Adjustments

any change is made in the Shares subject to the 2024 Plan, or subject to any stock award, without the receipt of consideration (through
merger, consolidation, reorganization, recapitalization, reincorporation, stock dividend, dividend in property other than cash, stock
split, liquidating dividend, combination of shares, exchange of shares, change in corporate structure or other transaction not involving
the receipt of consideration by us), the 2024 Plan will be appropriately adjusted in the class(es) and maximum number of securities
subject to the 2024 Plan and the outstanding awards will be appropriately adjusted in the class(es) and number of securities and price
per Share subject to such outstanding awards.

Change
in Control

In the event of (x) a sale,
lease or other disposition of all or substantially all of our assets, (y) a merger or consolidation in which we are not the surviving
corporation or (z) a reverse merger in which we are the surviving corporation but the Shares outstanding immediately preceding the merger
are converted by virtue of the merger into other property, whether in the form of securities, cash or otherwise, all options outstanding
under the 2024 Plan will be treated in the manner described in the definitive transaction agreement approved by the Board, which agreement
need not treat all options outstanding in an identical manner. Such treatment may include, without limitation, one or more of the following
with respect to each outstanding option outstanding under the 2024 Plan: (i) continuation of the option by the us (if we are the surviving
entity in the transaction), (ii) assumption of the option by the surviving corporation or its parent in a manner that complies with applicable
law and tax provisions, (iii) substitution by the surviving corporation or its parent of a new option or stock purchase right for the
option in a manner than complies with applicable law and tax provisions, (iv) cancellation of the option and a payment of the spread
(unless such option is underwater, in which case it may be cancelled for no payment), (v) cancellation of the option without the payment
of any consideration; provided that the optionholder will be notified of such treatment and given an opportunity to exercise the option
to the extent vested, (vi) suspension of the optionholder’s right to exercise the option during a limited period of time preceding
the closing if such suspension is administratively necessary to permit the closing of the transaction, and/or (vii) termination of any
right of an optionholder has to exercise the option prior to vesting in the shares subject to the option, such that at or following the
closing of the transaction, the option may only be exercised to the extent it is vested, in each case, as determined by the Board.

Term

The
2024 Plan became effective upon approval by the Board on August 7, 2024, but was terminated in connection with our adoption
of the 2025 Plan, as discussed below. Awards made under the 2024 Plan will remain subject to the terms and conditions of such plan until
they vest, expire, or are forfeited. Following the termination of the 2024 Plan, no further awards may be made under the 2024 Plan, and
the remaining Shares reserved for issuance under the 2024 Plan have been allocated to the 2025 Plan.

Summary
of Material Terms of the 2025 Plan

The
following is a summary of the material features of the BioVentrix, Inc. 2025 Equity Incentive Plan (the “2025 Plan”), which
was adopted by the Board and our stockholders on [________].

Eligibility

The
Administrator may grant awards to any director, employee or consultant of the Company or its subsidiaries. Only employees are eligible
to receive incentive stock options.

Administration

The
2025 Plan will be administered by the Board of Directors (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