Schuyler Kevin 4

What Happened
Kevin Schuyler, a director of Adial Pharmaceuticals, Inc. (NASDAQ: ADIL), was granted 9,185 restricted shares on April 7, 2026. The shares were issued at $0.00 (transaction code A), so the Form 4 shows no cash paid for the award. The grant vests in full on the earlier of (i) the one‑year anniversary of the grant or (ii) a Change of Control, subject to Mr. Schuyler’s continued service.

Key Details

• Transaction date: 2026-04-07 (reported on Form 4 filed 2026-04-09). No late‑filing flag appears on the form.
• Transaction type/code: Award/Grant (A) of restricted common stock.
• Shares granted: 9,185; price reported: $0.00; reported dollar value: $0.
• Vesting: Vests in full on earlier of one‑year anniversary or Change of Control, subject to continued service (footnote F1).
• Ownership note: Footnote F2 indicates Mr. Schuyler has control over MVA 151 Investors, LLC (disclosure of related entity control).
• Shares owned after transaction: not specified in the provided filing.

Context
Restricted stock awards are a form of compensation and retention incentive. They are not an open‑market purchase (which some investors view as a stronger direct bullish signal). Because vesting is tied to time and/or a corporate transaction, these shares may be forfeited if the director leaves before vesting. This filing is informational and does not, by itself, indicate intent to buy or sell on the open market.