secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-04-24T23:59:59+00:00
Accession:  0001740797-23-000030
Event type: leadership
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Trend Innovations names new CEO Kenneth Waggoner; ex-CEO Tunevic stays as President
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- Kenneth L. Waggoner named CEO on Apr 20, 2023, replacing Natalija Tunevic who remains President and director.
- Annual base salary of $720,000 in common stock, retroactively increased to $1,440,000 upon listing on a national exchange.
- Shares paid quarterly: $180,000 per quarter divided by 20-day VWAP; $2,500/mo health plan also paid in shares.
- Agreement term one year from April 20, 2023, auto-renewing; includes confidentiality, invention assignment, and indemnification.
- Waggoner has 45 years experience, including as CEO of PharmaCyte Biotech (2013-2022) and partner at Brobeck.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000030/0001740797-23-000030-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000030/tren8kceo.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000030

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer