secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-04-28T23:59:59+00:00
Accession:  0001740797-23-000032
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000032/0001740797-23-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000032/tren8k_ceoamend.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000032

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