---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-22-050245"
form_type: "8-K"
ticker: "ADIL"
cik: "0001513525"
company_name: "ADIAL PHARMACEUTICALS, INC."
filed_at: "2022-08-23T23:59:59+00:00"
generated_at: "2026-06-23T21:58:47.376837+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001213900-22-050245
- form_type: 8-K
- ticker: ADIL
- cik: 0001513525
- company_name: ADIAL PHARMACEUTICALS, INC.
- filed_at: 2022-08-23T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1513525/000121390022050245/0001213900-22-050245-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1513525/000121390022050245/ea164799-8k_adial.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-22-050245
- JSON: https://secwatch.observer/filing/0001213900-22-050245.json
- Plain text: https://secwatch.observer/filing/0001213900-22-050245.txt

## Key facts
- Executive change
  Kevin Schuyler was appointed as non-executive Chairman at ADIAL PHARMACEUTICALS, INC..
  - Action: appointed
  - Role: non-executive Chairman
  source text: On August 18, 2022, the Company’s board of directors also appointed Kevin Schuyler as non-executive Chairman of the board of directors.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1513525/000121390022050245/0001213900-22-050245-index.htm
- Executive change
  Cary J. Claiborne was appointed as President and Chief Executive Officer at ADIAL PHARMACEUTICALS, INC..
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1513525/000121390022050245/0001213900-22-050245-index.htm

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