---
schema_version: "secwatch.filing_event.v1"
accession: "0001740797-23-000032"
form_type: "8-K"
ticker: "AVAI"
cik: "0001740797"
company_name: "AVAI BIO, INC."
filed_at: "2023-04-28T23:59:59+00:00"
generated_at: "2026-06-16T06:38:22.449299+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001740797-23-000032
- form_type: 8-K
- ticker: AVAI
- cik: 0001740797
- company_name: AVAI BIO, INC.
- filed_at: 2023-04-28T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1740797/000174079723000032/0001740797-23-000032-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1740797/000174079723000032/tren8k_ceoamend.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001740797-23-000032
- JSON: https://secwatch.observer/filing/0001740797-23-000032.json
- Plain text: https://secwatch.observer/filing/0001740797-23-000032.txt

## Key facts
- Executive change
  Kenneth L. Waggoner was appointed as Chief Executive Officer at AVAI BIO, INC..
  - Action: retained
  - Role: Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1740797/000174079723000032/0001740797-23-000032-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.