FORM 4 [ ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response...
0.5
                      
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Lisi Steven A. 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
(Last)         (First)         (Middle)
C/O BEYOND AIR, INC., 825 EAST GATE BOULEVARD, SUITE 320
3. Date of Earliest Transaction (MM/DD/YYYY)
2/10/2021
(Street)
GARDEN CITY, NY 11530
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
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. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
Common Stock  2/10/2021    X    117112  A $4.25  1051875  D   
Common Stock  2/10/2021    S(1)    70388  D $7.0713  981487  D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 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 of Derivative Security: 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
Tranche B Warrant (right to buy)  $4.25  2/10/2021    X        117112   2/16/2018  2/16/2021  Common Stock  117112  $0  0  D   

Explanation of Responses:
(1)  On February 10, 2021, the reporting person exercised a warrant to purchase 117,112 shares of common stock, par value $0.0001 per share, of Beyond Air, Inc. (the "Company") for $4.25 a share. The reporting person paid the exercise price on a cashless basis, resulting in the Company's withholding of 70,388 of the warrant shares to pay the exercise price and issuing to the reporting person the remaining 46,724 shares of common stock of the Company.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Lisi Steven A.
C/O BEYOND AIR, INC.
825 EAST GATE BOULEVARD, SUITE 320
GARDEN CITY, NY 11530
X
CEO and Chairman of the Board

Signatures
/s/ Steven A. Lisi 2/12/2021
**Signature of Reporting Person Date
Beyond Air (NASDAQ:XAIR)
Historical Stock Chart
From Nov 2021 to Dec 2021 Click Here for more Beyond Air Charts.
Beyond Air (NASDAQ:XAIR)
Historical Stock Chart
From Dec 2020 to Dec 2021 Click Here for more Beyond Air Charts.