Claiborne Cary J 4

What Happened

• Cary J. Claiborne, CEO of Adial Pharmaceuticals, Inc. (ADIL), received a grant of 37,985 restricted shares of common stock on April 7, 2026. The shares were reported as acquired at $0.00 per share (transaction code A — award/grant). The filing does not state a market-dollar value for the grant.

Key Details

• Transaction date: 2026-04-07; Form 4 filed: 2026-04-09 (timely; within the usual 2-business-day window).
• Shares granted: 37,985 restricted shares; acquisition price reported as $0.00.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnote: The grant vests in full on the earlier of (i) the one-year anniversary of the grant date or (ii) a Change of Control, subject to the reporting person’s continued service through the vesting date.
• Transaction code: A = Award/Grant. No sale or cash purchase occurred.

Context

• Restricted stock awards are commonly used for retention and incentive compensation; they differ from open-market purchases in that they typically vest over time or upon specific events and do not necessarily signal an immediate change in insider sentiment.
• This filing documents an award rather than a purchase or sale and was filed on time.