---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-157432"
form_type: "8-K"
ticker: "CYDY"
cik: "0001175680"
company_name: "CytoDyn Inc."
filed_at: "2022-05-23T23:59:59+00:00"
generated_at: "2026-06-25T08:07:20.221433+00:00"
event_type: "litigation"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-22-157432
- form_type: 8-K
- ticker: CYDY
- cik: 0001175680
- company_name: CytoDyn Inc.
- filed_at: 2022-05-23T23:59:59+00:00
- event_type: litigation
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 3.02, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1175680/000119312522157432/0001193125-22-157432-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1175680/000119312522157432/d306532d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-157432
- JSON: https://secwatch.observer/filing/0001193125-22-157432.json
- Plain text: https://secwatch.observer/filing/0001193125-22-157432.txt

## Key facts
- Executive change
  Jordan G. Naydenov resigned as Board member at CytoDyn Inc..
  - Action: resigned
  - Role: Board member
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1175680/000119312522157432/0001193125-22-157432-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.