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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full board of directors regarding) our overall compensation strategy and policies; ● reviewing and approving the compensation, the performance goals and objectives relevant to the compensation, and other terms of employment of our executive officers; ● reviewing and approving (or if it deems appropriate, making recommendations to the full board of directors regarding) the equity incentive plans, compensation plans and similar programs advisable for us, as well as modifying, amending or terminating existing plans and programs; ● reviewing and approving the terms of any employment agreements, severance arrangements, change in control protections and any other compensatory arrangements for our executive officers; ● reviewing with management and approving our disclosures under the caption “ Compensation Discussion and Analysis ” in our periodic reports or proxy statements to be filed with the SEC; and ● preparing the report that the SEC requires in our annual proxy statement. Nominating and Corporate Governance Committee

Ravich, Dr. Abraham, and Dr. Puri will serve as members of our Nominating and Corporate Governance Committee with Mr. Ravich serving
as the chairman of the Nominating and Corporate Governance Committee.
All of our Nominating and Corporate Governance Committee members will satisfy the “independence” requirements of the Nasdaq
listing rules and meet the independence standards under Rule 10A-3 under the Exchange Act. The functions of this committee include, among
other things:

●	identifying,
reviewing and evaluating candidates to serve on our board of directors consistent with criteria approved by our board of directors;

●	evaluating
director performance on the board and applicable committees of the board and determining whether continued service on our board is
appropriate;

●	evaluating,
nominating and recommending individuals for membership on our board of directors; and

●	evaluating
nominations by stockholders of candidates for election to our board of directors.

The
nominating and corporate governance committee will take into account many factors in determining recommendations for persons to serve
on the board of directors, including the following:

●	personal
and professional integrity, ethics and values;

●	experience
in corporate management, such as serving as an officer or former officer of a publicly-held company;

●	experience
as a board member or executive officer of another publicly-held company;

●	strong
finance experience;

●	diversity
of expertise and experience in substantive matters pertaining to our business relative to other board members;

●	diversity
of background and perspective including, without limitation, with respect to age, gender, race, place of residence and specialized
experience;

●	experience
relevant to our business industry and with relevant social policy concerns; and

●	relevant
academic expertise or other proficiency in an area of our business operations.

Role
of Board in Risk Oversight Process

Periodically,
our board of directors assesses these roles and the board of directors leadership structure to ensure the interests of our company and
our stockholders are best served. Our board of directors has determined that its current leadership structure is appropriate.

While
management is responsible for assessing and managing risks to our company, our board of directors is responsible for overseeing management’s
efforts to assess and manage risk. This oversight is conducted primarily by our full board of directors, which has responsibility for
general oversight of risks, and standing committees of our board of directors. Our board of directors satisfies this responsibility through
full reports by each committee chair regarding the committee’s considerations and actions, as well as through regular reports directly
from officers responsible for oversight of particular risks within our company. Our board of directors believes that full and open communications
between management and the board of directors are essential for effective risk management and oversight.

Compensation
Committee Interlocks and Insider Participation

None
of our executive officers serves, or in the past has served, as a member of the board of directors or compensation committee, or other
committee serving an equivalent function, of any entity that has one or more executive officers who serve as members of our board of
directors or our compensation committee. None of the members of our compensation committee is, or has ever been, an officer or employee
of our company.

Clawback
Policy

will adopt a compensation recovery policy that is compliant with Nasdaq listing rules as required by the Dodd-Frank Act.

Code
of Business Conduct and Ethics

or prior to the completion of this offering, we will adopt a written code of business conduct and ethics that applies to our employees,
officers and directors. A current copy of the code will be posted on the Corporate Governance section of our website, which will be located
at www.bioventrix.com. We intend to disclose future amendments to certain provisions of our code of business conduct and ethics,
or waivers of such provisions applicable to any principal executive officer, principal financial officer, principal accounting officer
or controller, or persons performing similar functions, and our directors, on our website identified above or in filings with the SEC.

Involvement
in Certain Legal Proceedings

Except
as otherwise disclosed below, to the best of our knowledge, none of our directors or executive officers has, during
the past ten years:

●	been
convicted in a criminal proceeding or been subject to a pending criminal proceeding (excluding traffic violations and other minor
offenses);

●	had
any bankruptcy petition filed by or against the business or property of the person, or of any partnership, corporation or business
association of which he was a general partner or executive officer, either at the time of the bankruptcy filing or within two years
prior to that time. Mr. Ravich served as a director of Orchids Paper Products Company from February 2013 to 2018, as well as chairman
of the governance committee and as a member of the audit committee. Orchids Paper Products Company filed for Chapter 11 bankruptcy
on April 1, 2019, in the U.S. Bankruptcy Court for the District of Delaware;

●	been
subject to any order, judgment, or decree, not subsequently reversed, suspended or vacated, by any court of competent jurisdiction
or federal or state authority, permanently or temporarily enjoining, barring, suspending or otherwise limiting, his involvement in
any type of business, securities, futures, commodities, investment, banking, savings and loan, or insurance activities, or to be
associated with persons engaged in any such activity;

●	been
found by a court of competent jurisdiction in a civil action or by the SEC or the Commodity Futures Trading Commission to have violated
a federal or state securities or commodities law, and the judgment has not been reversed, suspended, or vacated;

●	been
the subject of, or a party to, any federal or state judicial or administrative order, judgment, decree, or finding, not subsequently
reversed, suspended or vacated (not including any settlement of a civil proceeding among private litigants), relating to an alleged
violation of any federal or state securities or commodities law or regulation, any law or regulation respecting financial institutions
or insurance companies including, but not limited to, a temporary or permanent injunction, order of disgorgement or restitution,
civil money penalty or temporary or permanent cease-and-desist order, or removal or prohibition order, or any law or regulation prohibiting
mail or wire fraud or fraud in connection with any business entity; or

●	been
the subject of, or a party to, any sanction or order, not subsequently reversed, suspended or vacated, of any self-regulatory organization
(as defined in Section 3(a)(26) of the Exchange Act), any registered entity (as defined in Section 1(a)(29) of the Commodity Exchange
Act), or any equivalent exchange, association, entity or organization that has disciplinary authority over its members or persons
associated with a member.

From
time to time, we may be subject to various legal or administrative claims and proceedings arising in the ordinary course of business.
Litigation or any other legal or administrative proceeding, regardless of the outcome, is likely to result in substantial cost and diversion
of our company’s resources, including our company’s management’s time and attention.

EXECUTIVE
AND DIRECTOR COMPENSATION

The
following table sets forth the aggregate compensation paid to our named executive officers and directors for the fiscal years ended December
31, 2024 and 2023. Individuals we refer to as our “named executive officers” include our Chief Executive Officer and any
other highly compensated executive officers whose total compensation for services rendered in all capacities exceeded $100,000 during
the fiscal years ended December 31, 2024 and 2023.

Summary
Compensation Table

Name
and Principal Position Year Salary
($) Bonus
($) Stock
Awards ($) Option
Awards ($) Non-Equity
Incentive Plan Compensation
($) Nonqualified
Deferred Compensation Earnings ($) All
Other Compensation ($) Total

David
Richmond, Chief
Executive Officer and Director 2024 - - $	140,532 1 - - - - $	140,352

Steve
Chartier, Chief
Operating Officer 2024 $	10,385 4 - $	73,332 2 - - - - $	83,717

Ori
Ben-Yehuda, Chief
Medical Officer 2024 $	73,332 3 - $	73,332

Was not compensated as CEO other than 175,665 restricted stock awards that vested with a fair value of $0.80 per share

Restricted stock awards totaling 91,665 shares that vested with a fair value of $0.80 per share