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

Rhea-AI Filing Summary

BioVie Inc. director Michael Edward Sherman received new stock option awards. On January 5, 2026, he was granted stock 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 stock options to purchase 341,100 shares of common stock at the same $1.31 exercise price, also expiring on January 5, 2031. For this grant, 75% of the options vested on January 5, 2026, with the remaining 25% vesting in three equal installments on January 5, 2027, January 5, 2028 and January 5, 2029. Both grants are reported as directly owned.

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
Estimated average burden
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 transaction did BioVie (BIVI) report for Michael Edward Sherman?

BioVie reported that director Michael Edward Sherman received two grants of stock options on January 5, 2026, covering a total of 421,100 shares of common stock.

What are the key terms of Michael Sherman’s new BioVie (BIVI) stock options?

Both grants are stock options to buy BioVie common stock at $1.31 per share, with an expiration date of January 5, 2031, and are reported as directly owned.

How many BioVie (BIVI) options were granted to Michael Sherman in each award?

One grant covers 80,000 stock options, and a second, separate grant covers 341,100 stock options, each for BioVie common stock at a $1.31 exercise price.

How do Michael Sherman’s 80,000 BioVie (BIVI) options vest?

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 date of BioVie’s 2026 annual shareholders’ meeting.

What is the vesting schedule for Michael Sherman’s 341,100 BioVie (BIVI) options?

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

What role does Michael Edward Sherman hold at BioVie (BIVI)?

Michael Edward Sherman is reported as a director of BioVie Inc. in this insider filing, and the Form 4 is filed by one reporting person.