Scilex directors Navani and Shah resign; CFO Ma joins board; consulting pact with Shah affiliate

Scilex Holding Co

Annu Navani and Jaisim Shah resigned as directors on Sept 22, 2025, in connection with the Semnur business combination.
Board size decreased from 6 to 5; CFO Stephen Ma appointed to fill the vacancy effective immediately.
Scilex entered a 5-year consulting agreement with Inform LLC (Shaffiliate) for $50,000/month; Shah continues vesting in stock options.
Resignations were not due to disagreement with the company's operations, policies, or practices.

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