secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2023-11-08T23:59:59+00:00
Accession:  0001740797-23-000075
Event type: leadership
Sentiment:  neutral
Materiality: 0.65
Item codes: 1.01, 3.02, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000075/0001740797-23-000075-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079723000075/avai_8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-23-000075

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