Adial appoints Cary Claiborne as CEO and Kevin Schuyler as Chairman; Stilley named Purnovate CEO

ADIAL PHARMACEUTICALS, INC.

Cary Claiborne promoted from COO to President/CEO, base salary $450k, RSU grant of 1M shares vesting over 36 months.
Kevin Schuyler appointed non-executive Chairman; previously Vice Chairman and director since 2016.
William Stilley named CEO of Purnovate, subsidiary; base salary $260k, increasing to $430k when cash hits $3M; option for 100k shares.
Claiborne's background includes CFO at Indivior and Sucampo; Schuyler is senior MD at CornerStone Partners.
Stilley gets enhanced severance if terminated without cause before Aug 22, 2023, based on $430k base salary.

item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Role change

Kevin Schuyler

non-executive Chairman

ADIL · ADIAL PHARMACEUTICALS, INC.

Effective: 2022-08-18
Filed: August 23, 2022, 7:59 PM ET

On August 18, 2022, the Company’s board of directors also appointed Kevin Schuyler as non-executive Chairman of the board of directors.

Role change

Cary J. Claiborne

President and Chief Executive Officer

ADIL · ADIAL PHARMACEUTICALS, INC.

Effective: 2022-08-18
Filed: August 23, 2022, 7:59 PM ET

On August 18, 2022, the board of directors of Adial Pharmaceuticals, Inc. (the “Company”) appointed Cary J. Claiborne, age 61, as President and Chief Executive Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Kevin Schuyler was appointed as non-executive Chairman at ADIAL PHARMACEUTICALS, INC..

Action: appointed
Role: non-executive Chairman

Exact text from the filing

On August 18, 2022, the Company’s board of directors also appointed Kevin Schuyler as non-executive Chairman of the board of directors.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Cary J. Claiborne was appointed as President and Chief Executive Officer at ADIAL PHARMACEUTICALS, INC..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

On August 18, 2022, the board of directors of Adial Pharmaceuticals, Inc. (the “Company”) appointed Cary J. Claiborne, age 61, as President and Chief Executive Officer.

View on SEC.gov

ADIAL PHARMACEUTICALS, INC. filing history →

Source: SEC EDGAR

accession 0001213900-22-050245

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