Appoints Kenneth L. Waggoner as CEO; salary payable in shares, bonus tied to capital raising

AVAI BIO, INC.

CEO base salary $720k/year in common stock, increasing to $1.44M upon uplisting to a national exchange.
Quarterly share payments determined by dividing $180k by 20-day VWAP.
Bonus of at least $200k if Waggoner raises sufficient equity or working capital.
Company to maintain D&O insurance comparable to Nasdaq-listed tech firms.

item 1.01 item 5.02 item 9.01

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Appointed

Kenneth L. Waggoner

Chief Executive Officer

AVAI · AVAI BIO, INC.

Effective: 2023-04-20
Filed: April 28, 2023, 7:59 PM ET

On April 20, 2023, Trend Innovations Holding Inc. (the “Company”) and Kenneth L. Waggoner entered into an Executive Compensation Agreement pursuant to which Mr. Waggoner was retained as Chief Executive Officer.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Kenneth L. Waggoner was appointed as Chief Executive Officer at AVAI BIO, INC..

Action: retained
Role: Chief Executive Officer

Exact text from the filing

On April 20, 2023, Trend Innovations Holding Inc. (the “Company”) and Kenneth L. Waggoner entered into an Executive Compensation Agreement pursuant to which Mr. Waggoner was retained as Chief Executive Officer.

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AVAI BIO, INC. filing history →

Source: SEC EDGAR

accession 0001740797-23-000032

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