Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

At the 2024 Annual Meeting of Stockholders of Pharma-Bio Serv, Inc. (the "Company") held on May 2, 2024 (the "Annual Meeting"), stockholders of the Company approved an amendment to the Pharma-Bio Serv, Inc. 2014 Long-Term Incentive Plan (the "2014 Plan") to extend the 2014 Plan for an additional ten years from March 31, 2024 to March 31, 2034 (the "Plan Amendment"). The Board of Directors of the Company adopted the Plan Amendment on March 6, 2024, subject to stockholder approval.

A description of the material terms and conditions of the Plan Amendment is set forth on page 12 of the Company's definitive proxy statement filed with the Securities and Exchange Commission on April 8, 2024, and is incorporated herein by reference. The description of the Plan Amendment incorporated herein by reference does not purport to be complete and is qualified in its entirety by reference to the full text of the Plan Amendment, attached to this report as Exhibit 10.1, and incorporated herein by reference.