Shares of Beyond Air fell after the company disclosed that it entered a long-term employment agreement with Chief Executive Robert Goodman.

The stock slid 3.8%, to $3.05, after closing up 5%. Through the close, shares were down 80% this year.

Goodman, who started as CEO on March 27, signed an employment agreement to continue in the role. The agreement doesn't provide a fixed term and his employment will continue until terminated.

He was first named chief executive after Steve Lisi announced his resignation in March. Goodman joined the board in June 2025 and previously served as chief commercial officer.

Goodman will receive an annual base salary of $650,000, and is eligible for an annual bonus each year.

Beyond Air also increased its compensation for Chief Financial Officer Daniel Moorhead to $463,000 from $325,000.