BioVie (NASDAQ: BIVI) director gets 421,100 new stock options grant

Rhea-AI Filing Summary

BioVie Inc. director Michael Edward Sherman reported receiving two new stock option awards. On January 5, 2026, he was granted options to purchase 80,000 shares of BioVie common stock at an exercise price of $1.31 per share, expiring on January 5, 2031. These options vest in four equal installments on February 11, 2026, May 11, 2026, August 11, 2026 and the earlier of November 11, 2026 and the date of the company’s 2026 annual shareholders’ meeting.

On the same date, he was also granted options for an additional 341,100 shares at the same $1.31 exercise price, also expiring on January 5, 2031. For this second grant, 75% of the options vested immediately on January 5, 2026, with the remaining portion vesting in three equal installments on January 5, 2027, January 5, 2028 and January 5, 2029. Both grants are reported as directly owned by Sherman.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sherman Michael Edward

(Last) (First) (Middle)

C/O BIOVIE INC.

680 W NYE LANE STE 201

(Street)

CARSON CITY NV 89703

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
BIOVIE INC. [ BIVI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/05/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	$1.31	01/05/2026		A		80,000		(1)	01/05/2031	Common Stock	80,000	$0	80,000	D
Stock Option (right to buy)	$1.31	01/05/2026		A		341,100		(2)	01/05/2031	Common Stock	341,100	$0	341,100	D

Explanation of Responses:

1. The options vest in four equal installments on February 11, 2026, May 11, 2026, August 11, 2026 and the earlier of November 11, 2026 and the date of the registrant's 2026 annual shareholders' meeting.

2. 75% of the options vested on January 5, 2026 and the remainder of the options vest in three equal installments on January 5, 2027, January 5, 2028 and January 5, 2029.

	/s/ Joanne Wendy Kim, attorney-in-fact for Michael Sherman	01/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider activity did BioVie (BIVI) report for Michael Sherman?

BioVie director Michael Edward Sherman reported the grant of two stock option awards on January 5, 2026, covering a total of 421,100 shares of common stock.

How many BioVie stock options were granted to Michael Sherman and at what price?

Sherman received options for 80,000 shares and 341,100 shares of BioVie common stock, each with an exercise price of $1.31 per share and an expiration date of January 5, 2031.

What is the vesting schedule for Michael Sherman’s 80,000 BioVie options?

The 80,000 options vest in four equal installments on February 11, 2026, May 11, 2026, August 11, 2026 and the earlier of November 11, 2026 and the 2026 annual shareholders’ meeting date.

How do the 341,100 BioVie options granted to Michael Sherman vest?

For the 341,100 options, 75% vested on January 5, 2026. The remaining options vest in three equal installments on January 5, 2027, January 5, 2028 and January 5, 2029.

Are Michael Sherman’s BioVie option grants reported as directly owned?

Yes. Both option awards are reported as direct (D) ownership by Michael Edward Sherman, with no indirect ownership entity noted.

Do Michael Sherman’s BioVie options have any cash cost at grant?

The options are reported with a transaction price of $0 per derivative security, reflecting that they were granted rather than purchased for cash, and carry an exercise price of $1.31 per share.