SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: DRS/A
Document Type: DRS/A
Date Filed: 2025-12-12
Accession Number: 0001493152-25-027406
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315225027406/filename1.htm

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income is generally realized by the optionee at the time a nonqualified option is granted. Generally, (i) at exercise, ordinary income is realized by the optionee in an amount equal to the difference between the option exercise price and the fair market value of the Shares issued on the date of exercise, and the Company or its subsidiaries receive a tax deduction for the same amount, and (ii) at disposition, appreciation or depreciation after the date of exercise is treated as either short-term or long-term capital gain or loss depending on how long the Shares have been held. Special rules will apply where all or a portion of the exercise price of the nonqualified option is paid by tendering Shares. Upon exercise, the optionee will also be subject to Social Security taxes on the excess of the fair market value of the Shares over the exercise price of the option.

Stock
Appreciation Rights, Restricted Stock, Restricted Stock Units, Dividend Equivalent Awards and Other Stock- and Cash-Based Awards.
The current federal income tax consequences of other awards generally follow certain basic patterns: (i) stock appreciation rights are
taxed and deductible in substantially the same manner as nonqualified options; (ii) nontransferable restricted stock subject to a substantial
risk of forfeiture results in income recognition equal to the excess of the fair market value of the Shares over the price paid, if any,
only at the time the restrictions lapse (unless the recipient elects to accelerate recognition as of the date of grant through a Section
83(b) election); and (iii) restricted stock units, dividend equivalents, and other stock- or cash-based awards are generally subject
to tax at the time of payment. The Company or its subsidiaries generally should be entitled to a federal income tax deduction in an amount
equal to the ordinary income recognized by the participant at the time the participant recognizes such income.

The
participant’s basis for the determination of gain or loss upon the subsequent disposition of Shares acquired from a stock appreciation
right, restricted stock, restricted stock unit, dividend equivalent award, or other stock-based award will be the amount paid for such
Shares plus any ordinary income recognized when the Shares were originally delivered, and the participant’s capital gain holding
period for those shares will begin on the day after they are transferred to the participant.

Performance
Awards. The tax consequences of performance awards will generally mirror those of the underlying award type, each of which is
discussed above.

Parachute
Payments. The vesting of any portion of an award that is accelerated due to the occurrence of a change in control (such as a sale
event) may cause all or a portion of the payments with respect to such accelerated awards to be treated as “parachute payments”
as defined in the Code. Any such parachute payments may be non-deductible to either the Company or its subsidiaries, in whole or in part,
and may subject the recipient to a non-deductible 20% federal excise tax on all or a portion of such payment (in addition to other taxes
ordinarily payable).

Section
409A. The foregoing description assumes that Section 409A of the Code does not apply to an award under the 2024 Plan or the 2025
Plan. In general, stock options and stock appreciation rights are exempt from Section 409A if the exercise price per share is at least
equal to the fair market value per share of the underlying stock at the time the option or stock appreciation right was granted. Restricted
stock awards are not generally subject to Section 409A. Restricted stock units are subject to Section 409A unless they are settled within
two and one-half months after the end of the later of (1) the end of our fiscal year in which vesting occurs or (2) the
end of the calendar year in which vesting occurs. If an award is subject to Section 409A and the provisions for the exercise or settlement
of that award do not comply with Section 409A, then the participant would be required to recognize ordinary income whenever a portion
of the award vested (regardless of whether it had been exercised or settled). This amount would also be subject to a 20% federal tax
and premium interest in addition to the federal income tax at the participant’s usual marginal rate for ordinary income.

Director
Compensation

Other
than as set forth in the table above relating to their capacity as officers, our board members did not pay any compensation, reimburse
any expense of, make any equity awards or non-equity awards to, or pay any other compensation to, any of the other non-employee members
of the Board in the fiscal year ended December 31, 2024.

PRINCIPAL
STOCKHOLDERS

The
following table sets forth certain information concerning the ownership of our common stock as of the date of this prospectus, with respect
to: (i) each person, or group of affiliated persons, known to us to be the beneficial owner of 5% or more of our common stock; (ii) each
of our directors; (iii) each of our named executive officers; and (iv) all of our current directors and executive officers as a group.

Applicable
percentage ownership is based on 13,270,713 shares of our common stock outstanding as of the date of this prospectus, which includes
7,558,068 shares of common stock being issued upon the closing of this offering in connection with the conversion of: (i) 1,565,000 shares
of our existing Series A Preferred Stock into 1,565,000 shares of common stock, (ii) $3,789,901 of our existing Series A Secured Convertible
Notes into 3,789,901 shares of our common stock, and (iii) $7,336,546 of our existing Series A-1 Secured Convertible Notes into 2,203,167
shares of our common stock as of the date of this prospectus. In addition, the number of shares and percentage of beneficial ownership
after the offering assumes the sale and gives effect to the issuance by us of shares of common stock in this offering and assuming an
initial public offering price of $ per share (the mid-point of the price range set forth on the cover page of this prospectus). The percentage
ownership information assumes no exercise of the underwriters of their’ over-allotment option to purchase additional shares of
common stock.

have determined beneficial ownership in accordance with the rules of the SEC. These rules generally attribute beneficial ownership of
securities to persons who possess sole or shared voting or investment power with respect to such securities. In addition, pursuant to
such rules, we deemed outstanding shares of common stock subject to options or warrants held by that person that are currently exercisable
or exercisable within 60 days of the date of this prospectus. We did not deem such shares outstanding, however, for the purpose of computing
the percentage ownership of any other person. Except as indicated by the footnotes below, we believe, based on the information furnished
to us, that the beneficial owners named in the table below have sole voting and investment power with respect to all shares of our common
stock that they beneficially own, subject to applicable community property laws.

Shares of common stock
Beneficially Owned Prior to
Offering Shares of common stock
Beneficially Owned After
Offering

Name and Address of Beneficial Owner (1) Number (7) (8) Percentage (2) Number Percentage (3)

Executive Officers, Directors and Director Nominees

Steve Chartier 110,530 * *

Ori Ben-Yehuda 110,000 * *

David Richmond 4,036,116	(4) 30.41	% [●]	%

Mark Ravich 998,154	(6) 7.52	% [●]	%

Rishi Puri –

William T. Abraham –

All directors and executive officers as a group (4 individuals) 5,254,799 39.60	% %

5% or Greater Stockholders

Michael Taglich 1,390,549	(5) 10.48	% [●]	%

Less than 1%.

(1)	Except
as otherwise indicated, the business address of our directors and executive officers is 120 Forbes Blvd., Suite 125, Mansfield, MA

(2)	Based
on 13,270,713 shares of common stock outstanding as of the date of this prospectus.

(3)	Based
on [●] shares of common stock outstanding immediately after the offering assuming no exercise of the underwriters’ over-allotment
option.