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
                                                                                  
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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., 900 STEWART AVENUE, SUITE 301
3. Date of Earliest Transaction (MM/DD/YYYY)
10/5/2021
(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  10/5/2021    A    100000 (1) A $0  1131487  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

Explanation of Responses:
(1)  Represents grant of time-vested restricted stock units ("RSUs") under the Beyond Air, Inc. Third Amended and Restated 2013 Equity Incentive Plan. The award will vest as to 20% of the shares of common stock underlying the RSUs on December 23, 2021, with the remainder vesting in equal annual installments on December 23rd (or the first business day thereafter if December 23rd falls on a weekend or holiday) of each of the four ensuing years thereafter until vested in full.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Lisi Steven A.
C/O BEYOND AIR, INC.
900 STEWART AVENUE, SUITE 301
GARDEN CITY, NY 11530
X
CEO and Chairman of the Board

Signatures
/s/ Steven A. Lisi 10/7/2021
**Signature of Reporting Person Date
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