[Form 4] Beyond Air, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Beyond Air (XAIR) disclosed an insider derivative change by CEO and Chairman Steven A. Lisi. On 11/03/2025, he canceled 164,778 warrants with a $7.586 exercise price and received a replacement warrant for 164,778 shares at $1.95. The warrant was originally issued on September 27, 2024, became exercisable on November 22, 2024, and will expire five years from November 22, 2024. Following these transactions, he directly holds 164,778 warrants.

Insights

Equity Capital Markets Analyst

Routine Form 4 shows warrant amendment; neutral impact.

Beyond Air reported a warrant amendment for CEO Steven A. Lisi: 164,778 warrants at a $7.586 exercise price were canceled and an equal number were issued at $1.95 on 11/03/2025. This is recorded as a disposal and an acquisition of derivative securities.

The instrument was originally issued on September 27, 2024, became exercisable on November 22, 2024, and expires five years from that date. After the amendment, he directly holds 164,778 warrants, each for one share of common stock.

As a standard insider update, it does not by itself indicate cash flow to the company; any effect depends on future warrant exercises, which are at the holder’s discretion.

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^*

Lisi Steven A.

(Last) (First) (Middle)

C/O BEYOND AIR, INC.

900 STEWART AVENUE, SUITE 301

(Street)

GARDEN CITY NY 11530

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Beyond Air, Inc. [ XAIR ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CEO and Chairman of the Board

3. Date of Earliest Transaction (Month/Day/Year)
11/03/2025

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
Warrants to purchase Common Stock	$7.586	11/03/2025	11/03/2025	D(1)			164,778	(1)	(1)	Common Stock	164,778	(1)	0	D
Warrants to purchase Common Stock	$1.95	11/03/2025	11/03/2025	A(1)		164,778		(1)	(1)	Common Stock	164,778	(1)	164,778	D

Explanation of Responses:

1. The two reported transactions involved an amendment of an outstanding warrant, resulting in the cancellation of the "old" warrant and the issuance of a replacement warrant. The warrant was originally issued on September 27, 2024, became exercisable on November 22, 2024, and will expire five years from November 22, 2024.

	/s/ Steven A. Lisi	11/06/2025
	** 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 did Beyond Air (XAIR) disclose in this Form 4?

The CEO canceled 164,778 warrants at a $7.586 exercise price and received 164,778 replacement warrants at $1.95 on 11/03/2025.

How many warrants does Steven A. Lisi hold after the transaction?

He directly holds 164,778 warrants following the reported transactions.

What are the key dates for the amended warrant?

It was originally issued on September 27, 2024, became exercisable on November 22, 2024, and expires five years from November 22, 2024.

What is the new exercise price of the replacement warrant for XAIR?

The replacement warrant carries an exercise price of $1.95 per share.

Who filed the Form 4 for Beyond Air (XAIR)?

It was filed by Steven A. Lisi, CEO and Chairman, who is also a director.

Was this transaction part of a 10b5-1 plan?

The form includes a checkbox reference for Rule 10b5-1(c), but the excerpt does not indicate it was checked.