secwatch.observer — SEC 8-K summary
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Issuer:     AVAI BIO, INC. (AVAI)
CIK:        0001740797
Form:       8-K
Filed at:   2024-07-15T23:59:59+00:00
Accession:  0001740797-24-000033
Event type: leadership
Sentiment:  neutral
Materiality: 0.75
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1740797/000174079724000033/0001740797-24-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1740797/000174079724000033/avai_8k.htm
  HTML page:      https://secwatch.observer/filing/0001740797-24-000033

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