secwatch.observer — SEC 8-K summary
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Issuer:     Lexaria Bioscience Corp. (LEXX)
CIK:        0001348362
Form:       8-K
Filed at:   2024-10-02T23:59:59+00:00
Accession:  0001640334-24-001473
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1348362/000164033424001473/0001640334-24-001473-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1348362/000164033424001473/lxrp_8k.htm
  HTML page:      https://secwatch.observer/filing/0001640334-24-001473

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