Avant Technologies appoints Timothy Lantz as CEO; prior CEO Racuis remains CFO

AVAI BIO, INC.

Timothy Lantz named Director and CEO effective Nov 3, 2023; replaces Vitalis Racuis who vacates CEO but stays CFO/Treasurer.
Lantz receives $480k annual base salary, 50% annual cash bonus, and quarterly RSA of $375k (15% VWAP discount) plus 3% ISO grant.
Paul Averill resigned as COO effective Nov 3; no disagreement cited; potential consulting agreement under Lantz.
Equity grants to Lantz issued as unregistered securities under Section 4(a)(2); no general solicitation.

item 1.01 item 3.02 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Timothy Lantz

Director and Chief Executive Officer

AVAI · AVAI BIO, INC.

Effective: 2023-11-03
Filed: November 8, 2023, 6:59 PM ET

On November 3, 2023, Avant Technologies Inc. (the “Company”) and Timothy Lantz entered into an Employment Agreement pursuant to which Mr. Lantz was retained as Director and Chief Executive Officer (“CEO”).

Role change

Vitalis Racuis

Chief Financial Officer and Treasurer

AVAI · AVAI BIO, INC.

Effective: 2023-11-03
Successor: Timothy Lantz
Filed: November 8, 2023, 6:59 PM ET

Vitalis Racuis – Vacate CEO position Effective November 3, 2023 with the appointment of Mr. Lantz as Director and CEO, Mr. Racuis vacated his CEO position and continues serve as a Director, Chief Financial Officer (“CFO”) and Treasurer of the Company.

Departed

Paul Averill

Chief Operating Officer

AVAI · AVAI BIO, INC.

Effective: 2023-11-03
Filed: November 8, 2023, 6:59 PM ET

Effective November 3, 2023, Paul Averill resigned as Chief Operating Officer (“COO”) of the Company, so that he may fully devote his efforts to his other business.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Timothy Lantz was appointed as Director and Chief Executive Officer at AVAI BIO, INC..

Action: appointed
Role: Director and Chief Executive Officer

Exact text from the filing

On November 3, 2023, Avant Technologies Inc. (the “Company”) and Timothy Lantz entered into an Employment Agreement pursuant to which Mr. Lantz was retained as Director and Chief Executive Officer (“CEO”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Vitalis Racuis changed role as Chief Financial Officer and Treasurer at AVAI BIO, INC..

Action: vacated
Role: Chief Financial Officer and Treasurer

Exact text from the filing

Vitalis Racuis – Vacate CEO position Effective November 3, 2023 with the appointment of Mr. Lantz as Director and CEO, Mr. Racuis vacated his CEO position and continues serve as a Director, Chief Financial Officer (“CFO”) and Treasurer of the Company.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Paul Averill resigned as Chief Operating Officer at AVAI BIO, INC..

Action: resigned
Role: Chief Operating Officer

Exact text from the filing

Effective November 3, 2023, Paul Averill resigned as Chief Operating Officer (“COO”) of the Company, so that he may fully devote his efforts to his other business.

View on SEC.gov

AVAI BIO, INC. filing history →

Source: SEC EDGAR

accession 0001740797-23-000075

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