CytoDyn settles former CMO suit, grants 8.3M shares & 7M warrants; board member resigns

CytoDyn Inc.

Settlement with former CMO Richard Pestell resolves breach-of-contract lawsuit; CytoDyn relinquishes 8,342,000 shares and removes transfer restrictions.
Company grants Pestell three-year warrants to purchase 7,000,000 shares at $0.37 per share, plus registration rights.
Parties dismiss lawsuit and release all claims; intangible assets from ProstaGene transaction transferred to Pestell.
Board member Jordan G. Naydenov resigned effective May 17, 2022, with no reason given.

item 1.01 item 3.02 item 5.02

Executive movements

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Departed

Jordan G. Naydenov

Board member

CYDY · CytoDyn Inc.

Effective: 2022-05-17
Filed: May 23, 2022, 7:59 PM ET

On May 17, 2022, Jordan G. Naydenov provided written notice to the Company’s Corporate Secretary of his resignation as a Board member of the Company as of May 17, 2022.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Jordan G. Naydenov resigned as Board member at CytoDyn Inc..

Action: resigned
Role: Board member

Exact text from the filing

On May 17, 2022, Jordan G. Naydenov provided written notice to the Company’s Corporate Secretary of his resignation as a Board member of the Company as of May 17, 2022.

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CytoDyn Inc. filing history →

Source: SEC EDGAR

accession 0001193125-22-157432

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