Gilliland Robertson H. 4

What Happened
Gilliland Robertson H., a director of ADIAL Pharmaceuticals, Inc. (ADIL), was granted 9,185 restricted shares on 2026-04-07. The shares were issued at $0.00 (no cash paid), so the immediate reported value is $0. The grant is reported on a Form 4 filed 2026-04-09 and is an award (transaction code A), i.e., a compensation grant rather than an open‑market purchase or sale.

Key Details

• Transaction date: 2026-04-07 (Grant of restricted shares)
• Report filed: 2026-04-09 (appears timely within the 2-business-day Form 4 window)
• Shares granted: 9,185; Price reported: $0.00; Reported dollar value: $0
• Shares owned after transaction: Not disclosed in the provided filing
• Transaction code: A (Award/Grant)
• Footnote: The restricted shares vest in full on the earlier of (i) one year after the grant date, or (ii) a Change of Control per the company’s equity plan, and are subject to the reporting person’s continued service through the vesting date.

Context
Restricted share grants are a form of compensation tied to continued service or corporate events; they do not indicate an immediate purchase or sale of stock. Because these shares may be forfeited if the director leaves before vesting, they primarily reflect compensation and retention incentives rather than a direct bullish or bearish personal investment.