Lexaria Bioscience appoints Michael Shankman as CFO, effective Oct 1, 2024

Lexaria Bioscience Corp.

Michael Shankman, CPA, replaces resigned CFO Nelson Cabatuan; CEO Richard Christopher had been interim principal financial officer.
Shankman previously served as outsourced CFO via NowCFO from June 2023 to February 2024.
Compensation: base salary with inflation-adjusted annual increases; performance bonuses up to 35-50% of base salary.
Granted incentive stock option for 50,000 shares at $3.17 exercise price, vesting in three tranches through August 31, 2026.
Severance: if terminated without cause after 6 months, two months' base salary plus one additional month per year of service.

item 5.02

Executive movements

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

Departed

Nelson Cabatuan

Chief Financial Officer

LEXX · Lexaria Bioscience Corp.

Effective: 2024-07-15
Successor: Michael Shankman
Filed: October 2, 2024, 7:59 PM ET

replacing Lexaria’s former CFO, Nelson Cabatuan who resigned effective July 15, 2024

Role change (interim)

Richard Christopher

principal financial officer (interim)

LEXX · Lexaria Bioscience Corp.

Effective: 2024-10-01
Successor: Michael Shankman
Filed: October 2, 2024, 7:59 PM ET

Richard Christopher, the Company’s Chief Executive Officer who assumed the responsibilities as the Company’s principal financial officer on an interim basis, relinquished those responsibilities to Mr. Shankman.

Appointed

Michael Shankman

Chief Financial Officer

LEXX · Lexaria Bioscience Corp.

Effective: 2024-10-01
Filed: October 2, 2024, 7:59 PM ET

Effective October 1, 2024, Michael Shankman, age 64, has been appointed to the position of Chief Financial Officer of Lexaria Bioscience Corp.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Nelson Cabatuan resigned as Chief Financial Officer at Lexaria Bioscience Corp..

Action: resigned
Role: Chief Financial Officer

Exact text from the filing

replacing Lexaria’s former CFO, Nelson Cabatuan who resigned effective July 15, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.85

Richard Christopher changed role as principal financial officer (interim) at Lexaria Bioscience Corp..

Action: relinquished responsibilities
Role: principal financial officer (interim)

Exact text from the filing

Richard Christopher, the Company’s Chief Executive Officer who assumed the responsibilities as the Company’s principal financial officer on an interim basis, relinquished those responsibilities to Mr. Shankman.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Michael Shankman was appointed as Chief Financial Officer at Lexaria Bioscience Corp..

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

Effective October 1, 2024, Michael Shankman, age 64, has been appointed to the position of Chief Financial Officer of Lexaria Bioscience Corp.

View on SEC.gov

Lexaria Bioscience Corp. filing history →

Source: SEC EDGAR

accession 0001640334-24-001473

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