SEC Filing Document

Company: BIOVENTRIX, INC.
Ticker: 
CIK: 1283259
Filing Type: S-1
Document Type: S-1
Date Filed: 2026-02-12
Accession Number: 0001493152-26-006407
Exchange: 
SIC Code: 3841
SIC Description: Surgical & Medical Instruments & Apparatus
URL: https://www.sec.gov/Archives/edgar/data/1283259/000149315226006407/forms-1.htm

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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 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, 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 $375,000

David
Richmond Co-CEO $300,000

Ori Ben-Yehuda Chief
Medical Officer $240,000

Outstanding
Equity Awards at Fiscal 2025 Year-End

There were 950,500 stock
options outstanding as of December 31, 2025, of which 152,885 vested, resulting in $64,619 of expense in 2025.

There were 414,000
restricted stock awards outstanding as of December 31, 2024, all of which vested in 2025, resulting in $44,004 of expense. There
were no restricted stock awards granted in 2025.

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 $	1.00 12/31/34 - $	-

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

Steve Chartier, 1/15/25 1/15/25 - 222,000 $	1.00 12/31/34 - $	-

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

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

Chief Medical Officer - $	-

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 $	1,126	(1)

William Abraham $	1,126	(1)

Rishi Puri $	1,126	(1)

(1)	Non-qualified
stock options granted in 2025 totaling 30,000 shares with a weighted average fair value of
$0.60 per share; 1,875 shares vested in 2025

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