---
schema_version: "secwatch.filing_event.v1"
accession: "0001740797-24-000033"
form_type: "8-K"
ticker: "AVAI"
cik: "0001740797"
company_name: "AVAI BIO, INC."
filed_at: "2024-07-15T23:59:59+00:00"
generated_at: "2026-05-31T20:43:21.092190+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Avant Technologies appoints Kenneth L. Waggoner as CEO with $720K salary in shares

## Summary
- Kenneth L. Waggoner named CEO effective July 10, 2024; 1-year term renewable automatically.
- Base salary $720k annual paid in common shares quarterly at 20-day VWAP; increases to $1.44M upon national exchange listing.
- Additional bonus of 10% of net equity financing raised if deemed sufficient by Board.
- Former interim CEO Hisey reappointed as CFO; Racius reappointed as COO while remaining Director and Treasurer.
- CEO has 45 years experience including senior roles at Chevron and PharmaCyte Biotech.

## SEC filing metadata
- accession: 0001740797-24-000033
- form_type: 8-K
- ticker: AVAI
- cik: 0001740797
- company_name: AVAI BIO, INC.
- filed_at: 2024-07-15T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1740797/000174079724000033/0001740797-24-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1740797/000174079724000033/avai_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001740797-24-000033
- JSON: https://secwatch.observer/filing/0001740797-24-000033.json
- Plain text: https://secwatch.observer/filing/0001740797-24-000033.txt

## Key facts
- Executive change
  Hisey was appointed as Chief Financial Officer at AVAI BIO, INC..
  - Action: reappointed
  - Role: Chief Financial Officer
  source text: Mr. Hisey, the current interim CEO of the Company, was reappointed as Chief Financial Officer (the “CFO”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1740797/000174079724000033/0001740797-24-000033-index.htm
- Executive change
  Racius was appointed as Chief Operating Officer at AVAI BIO, INC..
  - Action: reappointed
  - Role: Chief Operating Officer
  source text: Mr. Racius, the current CFO, Director, and Treasurer, was reappointed as the Company's Chief Operating Officer (the “COO”) while continuing his roles as Director and Treasurer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1740797/000174079724000033/0001740797-24-000033-index.htm

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