Beyond Air, Inc. Announces 2024 Annual Meeting of Stockholders
Ticker: XAIR · Form: DEF 14A · Filed: Jan 26, 2024 · CIK: 1641631
| Field | Detail |
|---|---|
| Company | Beyond Air, Inc. (XAIR) |
| Form Type | DEF 14A |
| Filed Date | Jan 26, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $100 million, $1 billion, $121 million |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: Annual Meeting, Proxy Statement, Director Election, Equity Incentive Plan, Independent Auditor
TL;DR
<b>Beyond Air, Inc. will hold its 2024 Annual Meeting of Stockholders on March 8, 2024, to elect directors, ratify auditors, and approve an equity incentive plan.</b>
AI Summary
Beyond Air, Inc. (XAIR) filed a Proxy Statement (DEF 14A) with the SEC on January 26, 2024. Annual meeting scheduled for March 8, 2024, at 4:30 p.m. ET. Key proposals include electing seven directors, ratifying Marcum LLP as independent auditor, and approving an equity incentive plan. The equity plan seeks to increase reserved shares by 3,000,000. Record date for stockholders entitled to vote is January 10, 2024. Proxy materials will be made available on or about January 26, 2024.
Why It Matters
For investors and stakeholders tracking Beyond Air, Inc., this filing contains several important signals. The election of directors and approval of the equity incentive plan are critical for the company's governance and future compensation strategies. Ratification of the independent auditor ensures continued compliance with financial reporting standards.
Risk Assessment
Risk Level: low — Beyond Air, Inc. shows low risk based on this filing. The filing is a routine proxy statement for an annual meeting and does not contain new financial or operational information that would indicate significant risk.
Analyst Insight
Stockholders should review the proposals regarding director elections and the equity incentive plan to make informed voting decisions.
Key Numbers
- 7 — Directors to be elected (Proposal 1)
- 3,000,000 — Additional shares for equity plan (Proposal 3)
- 2024-03-08 — Annual Meeting Date (Notice of Annual Meeting)
- 2024-01-10 — Record Date (Stockholder eligibility for voting)
Key Players & Entities
- Beyond Air, Inc. (company) — Registrant
- Marcum LLP (company) — independent registered public accounting firm
- March 8, 2024 (date) — Annual Meeting date
- January 10, 2024 (date) — Record date
- January 26, 2024 (date) — Mailing date for proxy materials
- 3,000,000 (dollar_amount) — shares to be added to equity plan
FAQ
When did Beyond Air, Inc. file this DEF 14A?
Beyond Air, Inc. filed this Proxy Statement (DEF 14A) with the SEC on January 26, 2024.
What is a DEF 14A filing?
A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by Beyond Air, Inc. (XAIR).
Where can I read the original DEF 14A filing from Beyond Air, Inc.?
You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Beyond Air, Inc..
What are the key takeaways from Beyond Air, Inc.'s DEF 14A?
Beyond Air, Inc. filed this DEF 14A on January 26, 2024. Key takeaways: Annual meeting scheduled for March 8, 2024, at 4:30 p.m. ET.. Key proposals include electing seven directors, ratifying Marcum LLP as independent auditor, and approving an equity incentive plan.. The equity plan seeks to increase reserved shares by 3,000,000..
Is Beyond Air, Inc. a risky investment based on this filing?
Based on this DEF 14A, Beyond Air, Inc. presents a relatively low-risk profile. The filing is a routine proxy statement for an annual meeting and does not contain new financial or operational information that would indicate significant risk.
What should investors do after reading Beyond Air, Inc.'s DEF 14A?
Stockholders should review the proposals regarding director elections and the equity incentive plan to make informed voting decisions. The overall sentiment from this filing is neutral.
How does Beyond Air, Inc. compare to its industry peers?
Beyond Air, Inc. operates in the medical device sector, focusing on respiratory technologies.
Are there regulatory concerns for Beyond Air, Inc.?
The filing is a proxy statement, subject to regulations under the Securities Exchange Act of 1934, specifically Section 14(a).
Risk Factors
- Compliance with SEC Regulations [low — regulatory]: The company must comply with all SEC regulations regarding proxy solicitations and annual meetings.
- Equity Incentive Plan Approval [low — financial]: Approval of the equity incentive plan is necessary for future stock-based compensation, impacting dilution.
- Director Elections [low — operational]: The election of directors is crucial for the company's strategic direction and corporate governance.
Industry Context
Beyond Air, Inc. operates in the medical device sector, focusing on respiratory technologies.
Regulatory Implications
The filing is a proxy statement, subject to regulations under the Securities Exchange Act of 1934, specifically Section 14(a).
What Investors Should Do
- Review the qualifications of the director nominees.
- Understand the terms and implications of the proposed Sixth Amended and Restated 2013 Equity Incentive Plan.
- Confirm the ratification of Marcum LLP as the independent auditor.
Key Dates
- 2024-01-10: Record Date — Determines which stockholders are entitled to vote at the Annual Meeting.
- 2024-01-26: Mailing of Notice of Internet Availability of Proxy Materials — Informs stockholders how to access proxy statement and annual report.
- 2024-03-08: Annual Meeting of Stockholders — Date for voting on proposals including director elections and equity plan.
Year-Over-Year Comparison
This is a DEF 14A filing, which is a definitive proxy statement for an annual meeting. It follows previous filings but contains specific proposals for the upcoming meeting.
Filing Stats: 4,796 words · 19 min read · ~16 pages · Grade level 12.5 · Accepted 2024-01-26 16:05:28
Key Financial Figures
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- $1 billion — rom $100 million in enterprise value to $1 billion in three years. Mr. Lisi raised $121 mi
- $121 million — billion in three years. Mr. Lisi raised $121 million in equity, led the sale of Avadel&rsquo
Filing Documents
- formdef14a.htm (DEF 14A) — 882KB
- formdef14a_001.jpg (GRAPHIC) — 4KB
- formdef14a_002.jpg (GRAPHIC) — 78KB
- formdef14a_003.jpg (GRAPHIC) — 86KB
- 0001493152-24-003945.txt ( ) — 1115KB
From the Filing
DEF 14A 1 formdef14a.htm UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 14A PROXY SECURITIES EXCHANGE ACT OF 1934 Filed by the Registrant Filed by a Party other than the Registrant Check the appropriate box: Preliminary Proxy Statement Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2)) Definitive Proxy Statement Definitive Additional Materials Soliciting Material under §240.14a-12 BEYOND AIR, INC. (Name of Registrant as Specified In Its Charter) Payment of Filing Fee (Check all boxes that apply): No fee required. Fee paid previously with preliminary materials Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11 900 STEWART AVENUE, Suite 301 Garden NOTICE OF ANNUAL MEETING OF STOCKHOLDERS To Be Held at 4:30 p.m. Eastern Time on Friday, March 8, 2024 Dear Stockholders of Beyond Air, Inc.: We cordially invite you to attend the 2024 annual meeting of stockholders, which we refer to as the Annual Meeting, of Beyond Air, Inc., a Delaware corporation, which will be held on Friday, March 8, 2024 at 4:30 p.m. Eastern Time, in person at the offices of Beyond Air, Inc., 900 Stewart Avenue, Suite 301, Garden City, New York, 11530, for the following purposes, as more fully described in the accompanying proxy statement: 1. To elect seven directors, each to hold office until the 2025 Annual Meeting of Stockholders and until his or her successor is elected and qualified; 2. To ratify the appointment of Marcum LLP as our independent registered public accounting firm for our fiscal year ending March 31, 2024; 3. To approve the Sixth Amended and Restated 2013 Equity Incentive Plan to increase the number of shares reserved for issuance by 3,000,000; 4. To transact such other business as may properly come before the Annual Meeting or any adjournments or postponements thereof. Our Board of Directors has fixed the close of business on January 10, 2024 as the record date for the Annual Meeting. Only stockholders of record on January 10, 2024 are entitled to notice of and to vote at the Annual Meeting. Further information regarding voting rights and the matters to be voted upon is presented in the accompanying proxy statement. On or about January 26, 2024, we expect to mail to our stockholders a Notice of Internet Availability of Proxy Materials (the “Notice”) containing instructions on how to access our proxy statement and our Annual Report on Form 10-K for the year ended March 31, 2023 (our “Annual Report”). The Notice provides instructions on how to vote via the Internet or by telephone and includes instructions on how to receive a paper copy of our proxy materials by mail. The accompanying proxy statement and our Annual Report can be accessed directly at the following Internet address: www.proxyvote.com . All you have to do is enter the control number located on your Notice or proxy card. YOUR VOTE IS IMPORTANT. Whether or not you plan to attend the Annual Meeting, we urge you to submit your vote via the Internet, telephone or mail. We appreciate your continued support of Beyond Air. By order of the Board of Directors, /s/ Steven Lisi Chief Executive Officer and Chairman Garden January 26, 2024 i TABLE OF CONTENTS Page QUESTIONS AND ANSWERS ABOUT THE PROXY MATERIALS AND OUR ANNUAL MEETING 1 PROPOSAL NO. 1 ELECTION OF DIRECTORS 7 PROPOSAL NO. 2 RATIFICATION OF APPOINTMENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM 17 REPORT OF THE AUDIT COMMITTEE 19 PROPOSAL NO. 3 APPROVAL OF THE Sixth AMENDED and Restated 2013 Equity Incentive Plan 20 Executive COMPENSATION 25 SECURITY 34 RELATED PERSON TRANSACTIONS 35 OTHER MATTERS 36 APPENDIX A – SIXTH AMENDED AND RESTATED 2013 EQUITY INCENTIVE PLAN A-1 ii BEYOND AIR, INC. PROXY FOR 2024 ANNUAL MEETING OF STOCKHOLDERS To Be Held at 4:30 p.m. Eastern Time on Friday, March 8, 2024 This proxy statement and the enclosed form of proxy are furnished in connection with the solicitation of proxies by our Board of Directors for use at the 2024 annual meeting of stockholders (the “Annual Meeting”) of Beyond Air, Inc., a Delaware corporation, and any postponements, adjournments or continuations thereof, which we refer to as the Annual Meeting. The Annual Meeting will be held on Friday, March 8, 2024 at 4:30 p.m. Eastern Time, at the offices of Beyond Air, Inc., 900 Stewart Avenue, Suite 301, Garden City, New York, 11530. The Notice of Internet Availability of Proxy Materials, which we refer to as the “Notice,” containing instructions on how to access this proxy statement and our Annual Report on Form 10-K for the year ended March 31, 2023 (our “Annual Report”) is first being mailed on or about January 26, 2024 to all stockholders entitled to vote at the Annual Meeting. The information provided