Enveric Biosciences cuts 35% of workforce, eliminates President/COO role

Enveric Biosciences, Inc.

Announced ~35% reduction in force on May 15, 2023.
Eliminated President and COO positions; Avani Kanubaddi terminated effective June 17, 2023.
Severance includes 12 months base salary continuation and acceleration of unvested RSUs.
Performance bonus for 2023 may be paid if metrics achieved.

item 1.02 item 5.02

Executive movements

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Departed

Avani Kanubaddi

President and Chief Operating Officer

ENVB · Enveric Biosciences, Inc.

Effective: 2023-06-17
Filed: May 24, 2023, 7:59 PM ET

the Company terminated the employment contract of Mr. Kanubaddi without Cause (as defined in the Employment Agreement), the President and Chief Operating Officer of the Company, to be effective June 17, 2023

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Avani Kanubaddi was terminated as President and Chief Operating Officer at Enveric Biosciences, Inc..

Action: terminated
Role: President and Chief Operating Officer

Exact text from the filing

the Company terminated the employment contract of Mr. Kanubaddi without Cause (as defined in the Employment Agreement), the President and Chief Operating Officer of the Company, to be effective June 17, 2023

View on SEC.gov

Enveric Biosciences, Inc. filing history →

Source: SEC EDGAR

accession 0001493152-23-018784

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