CytoDyn CEO resigns, returns as SVP; files $100M+ claim against former CRO Amarex

CytoDyn Inc.

Dr. Cyrus Arman resigned as President and PEO on July 6, 2023; returns as SVP Business Operations with reduced salary of $300k.
Antonio Migliarese continues as Interim President and CFO; board has begun search for new President/CEO.
CytoDyn filed supplemental Statement of Claim against Amarex seeking damages exceeding $100M for alleged breach of CRO services.
Under new agreement, Arman forfeited RSUs/PSUs; option to purchase 1,575,557 shares vests 40% immediately, rest over 6 months.

item 5.02 item 7.01 item 9.01

Executive movements

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Role change

Cyrus Arman

Senior Vice President, Business Operations

CYDY · CytoDyn Inc.

Effective: 2023-07-07
Filed: July 11, 2023, 7:59 PM ET

Dr. Cyrus Arman, on medical leave since May 18, 2023, after serving as the President and principal executive officer of CytoDyn Inc. (the “Company”) since July 9, 2022, resigned as the Company’s President and principal executive officer on July 6, 2023, and returned to the Company as its Senior Vice President, Business Operations, a nonexecutive position in which he will work reduced hours, effective July 7, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Cyrus Arman was appointed as Senior Vice President, Business Operations at CytoDyn Inc..

Action: appointed
Role: Senior Vice President, Business Operations

Exact text from the filing

Dr. Cyrus Arman, on medical leave since May 18, 2023, after serving as the President and principal executive officer of CytoDyn Inc. (the “Company”) since July 9, 2022, resigned as the Company’s President and principal executive officer on July 6, 2023, and returned to the Company as its Senior Vice President, Business Operations, a nonexecutive position in which he will work reduced hours, effective July 7, 2023.

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CytoDyn Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-011799

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