Adial Pharmaceuticals announced the appointment of Vinay Shah as Chief Financial Officer, effective November 16, 2024, following Joseph Truluck's resignation. Shah brings over 25 years of pharmaceutical and healthcare financial experience, previously serving as CFO at Virpax Pharmaceuticals and Aravive Inc., where he helped raise over $150 million.Under the employment agreement, Shah will receive an annual base salary of $315,000 with a potential 30% discretionary bonus and 40,000 stock options. The three-year contract includes six months' severance for without-cause termination and twelve months' severance following a change of control.Truluck will remain with the company until November 15, 2024, and continue as a consultant through March 31, 2025. His separation agreement includes full salary through December 2024, 50% salary for Q1 2025, and $350 hourly consulting rate thereafter. The transition was not due to any disagreements regarding company operations or financial matters.

Adial Pharmaceuticals announced the appointment of Vinay Shah as Chief Financial Officer, effective November 16, 2024, following Joseph Truluck's resignation. Shah brings over 25 years of pharmaceutical and healthcare financial experience, previously serving as CFO at Virpax Pharmaceuticals and Aravive Inc., where he helped raise over $150 million.Under the employment agreement, Shah will receive an annual base salary of $315,000 with a potential 30% discretionary bonus and 40,000 stock options. The three-year contract includes six months' severance for without-cause termination and twelve months' severance following a change of control.Truluck will remain with the company until November 15, 2024, and continue as a consultant through March 31, 2025. His separation agreement includes full salary through December 2024, 50% salary for Q1 2025, and $350 hourly consulting rate thereafter. The transition was not due to any disagreements regarding company operations or financial matters.