SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1/A
Document Type: S-1/A
Date Filed: 2026-03-18
Accession Number: 0001493152-26-010642
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226010642/forms-1a.htm

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the following compensatory terms: (i) an annual base salary of $300,000, (ii) eligibility to receive a discretionary bonus of up to 30% of his base salary, contingent upon the achievement of objectives mutually agreed upon with the board of directors, and (iii) an option to purchase 191,000 shares of the Company’s common stock, which vests as to 25% of the underlying shares on the first anniversary of the effective date of the award agreement, with the remaining 75% vesting in equal monthly installments over the following 36 months, subject to Mr. Richmond’s continued employment. The options fully vest upon a change in control of the Company. In the event the Company terminates Mr. Richmond’s employment without “cause” or Mr. Richmond terminates his employment for “good reason” (each, as defined in the Richmond Offer Letter), Mr. Richmond is entitled to receive severance equal to twelve months of his then-current base salary.

Chartier is currently employed pursuant to an offer letter agreement with the Company that became effective December 3, 2024 (the “Chartier
Offer Letter”). Pursuant to the Chartier Offer Letter, Mr. Chartier serves as the Co-Chief Executive Officer and President of the
Company, reporting to the board of directors. The Chartier Offer Letter contains the following compensatory terms: (i) an annual base
salary of $375,000, (ii) eligibility to receive a discretionary bonus of up to 30% of his base salary, contingent upon the achievement
of objectives mutually agreed upon with the board of directors, (iii) a sign-on bonus of $50,000, and (iv) an option to purchase 220,000
shares of the Company’s common stock, which vests as to 25% of the underlying shares on the first anniversary of the effective
date of the award agreement, with the remaining 75% vesting in equal monthly installments over the following 36 months, subject to Mr.
Chartier’s continued employment. The options fully vest upon a change in control of the Company. In the event the Company terminates
Mr. Chartier’s employment without “cause” or Mr. Chartier terminates his employment for “good reason” (each,
as defined in the Chartier Offer Letter), Mr. Chartier is entitled to receive severance equal to twelve months of his then-current base
salary.

Ben-Yehuda is engaged as a consultant pursuant to a consulting agreement that became effective September 20, 2022 (the “Ben-Yehuda
Consulting Agreement”). The Ben-Yehuda Consulting Agreement has an open term and entitles Dr. Ben-Yehuda to $500 per hour of work
plus all reasonable pre-approved out-of-pocket expenses. The Ben-Yehuda Consulting Agreement may be terminated by either party upon ten
days’ written notice. Additionally, the Ben-Yehuda Consulting Agreement contains standard confidentiality and indemnification provisions
and a six-month post-engagement non-solicitation clause.

New
Arrangements

Our
Co-Chief Executive Officers will be engaged with the Company pursuant to employment agreements that will become effective prior to or
in connection with the closing of this offering. Under the agreements, Messrs. Chartier and Richmond report to our Board.

Each
agreement will continue until terminated in accordance with its terms, and provides for (A) an annual base salary paid in accordance
with our normal payroll practices and which may be increased in the discretion of our board of directors, but not reduced, (B) a target
annual bonus equal to 30% for Messrs. Chartier and Richmond, with the actual amount of such bonus determined in the discretion of our
board of directors, based on the achievement of individual and/or company performance goals determined by our board of directors and
payable on the date annual bonuses are paid to our other senior executives, but in no event later than March 15th of the calendar year
following the calendar year in which such annual bonus was earned, provided the applicable executive is employed in active working status
with the company at the time the bonus is paid, (C) eligibility to receive equity-based compensation awards, as determined by our board
for each calendar year during the employment period, (D) eligibility to participate in customary health, welfare and retirement benefit
plans we provide our employees, (E) prompt reimbursement for all reasonable business expenses, and (F) fifteen vacation days annually.

Under
the employment agreements for Messrs. Chartier and Richmond, if the executive’s employment is terminated by the company without
“cause,” or by the executive for “good reason” (each, as defined in the applicable employment agreement, and
referred to herein as a qualifying termination) then the executive will be entitled to receive (i) severance in an amount equal to one
times the executive’s base salary, as in effect on the termination date, payable over twelve months following the termination date,
and (ii) 12 months’ of employer-provided COBRA, each subject to the executive executing and not revoking a release of claims in
favor of the company.

The
employment agreements also include standard confidentiality and invention assignment provisions and a “best pay” provision
under Section 280G of the Code, pursuant to which any “parachute payments” that become payable to the executive will either
be paid in full or reduced so that such payments are not subject to the excise tax under Section 4999 of the Code, whichever results
in the better after-tax treatment to the executive.

The
following table sets forth each executive’s title and annual base salary under his employment agreement.

Name Title Base
Salary

Steve
Chartier President
and Co-CEO $386,250

David
Richmond Co-CEO $309,000

Outstanding
Equity Awards at Fiscal 2025 Year-End

Option Awards Stock Awards

Name Vesting Commencement Date Grant 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, 1/1/25 1/1/25 - 191,000	(1) $	1.00 12/31/34 - $	-

Chairman, Co-Chief Executive Officer and Chief Financial Officer 10/1/25 10/1/25 - 80,000	(2) $	1.14 9/30/35 - $	-

Steve Chartier, 1/15/25 1/15/25 - 222,000	(3) $	1.00 1/14/35 - $	-

President, Co-Chief
Executive Officer and Director 10/1/25 10/1/25 - 70,000	(4) $	1.14 9/30/35 - $	-

Ori Ben-Yehuda, 10/1/25 10/1/25 - 25,000	(5) $	1.14 9/30/35 - $	-

Chief Medical Officer - $	-

of the shares underlying the option vest on the first anniversary of the vesting commencement date and then 3,979 shares underlying
the option will vest in each of the subsequent 36 months, subject to continued employment.

of the shares underlying the option vest on the first anniversary of the vesting commencement date and then 1,666 shares underlying
the option will vest in each of the subsequent 36 months, subject to continued employment.

of the shares underlying the option vest on the first anniversary of the vesting commencement date and then 4,625 shares underlying
the option will vest in each of the subsequent 36 months, subject to continued employment.

of the shares underlying the option vest on the first anniversary of the vesting commencement date and then 1,458 shares underlying
the option will vest in each of the subsequent 36 months, subject to continued employment.

of the shares underlying the option vest on the first anniversary of the vesting commencement date and then 521 shares underlying
the option will vest in each of the subsequent 36 months, subject to continued employment.

Retirement
Benefits

currently provide a 401(k) retirement savings plan for our employee who satisfy certain eligibility requirements, including one or more
of our named executive officers. Our named executive officers are eligible to participate in the 401(k) plan on the same terms as other
full-time employees. The Internal Revenue Code allows eligible employees to defer a portion of their compensation, within prescribed
limits, on a pre-tax basis through contributions to the 401(k) plan. Currently, we match participants’ contributions to the 401(k)
plan up to 4% of compensation.

Potential
Payments Upon Termination or Change in Control

Our
named executive officers are entitled to payments upon certain termination events, as described in the employment agreement summary above.

Director
Compensation

Name Fees earned or paid in cash ($) Stock awards ($) Option awards ($) Non-equity incentive plan compensation ($) Nonqualified deferred compensation earnings
($) All other compensation ($) Total ($)

Mark Ravich - - $	18,012	(2) - - - $	18,012

William Abraham - - $	18,012	(2) - - - $	18,012

Rishi Puri - - $	18,012	(2) - - - $	18,012

of December 31, 2025, each non-employee director held 18,012 option awards and no restricted stock awards.

(2)	Amounts
reflect the full grant-date fair value of stock option awards granted during the applicable fiscal year computed in accordance with
ASC Topic 718, rather than the amounts paid to or realized by the non-employee director. We provide information regarding the assumptions
used to calculate the value of all awards made to our directors in Note 9 of the Consolidated Financial Statements.

Director
Compensation