Shah Vinay 4

What Happened

• Vinay Shah, Chief Financial Officer of ADIAL PHARMACEUTICALS, INC. (ADIL), received a grant of 17,325 restricted shares of common stock on 2026-04-07. The shares were issued at $0.00 per share (total value $0 as reported). This is an equity award (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-07; Form 4 filed: 2026-04-09 (timely filing).
• Shares granted: 17,325; price reported: $0.00 per share; reported total value: $0.
• Shares owned after transaction: not specified in the provided summary of the Form 4.
• Footnote: The restricted shares vest in full on the earlier of (i) the one‑year anniversary of the grant date or (ii) a Change of Control, subject to continued service (per the issuer’s 2017 Equity Incentive Plan).
• Transaction type: Award/Grant (A). No 10b5‑1 plan, tax‑withholding sale, or late filing indicated.

Context

• Restricted share awards are a common form of executive compensation and typically vest over time or on corporate events; they do not represent an immediate market purchase or sale. Such grants are informational about compensation but do not, by themselves, indicate an insider buying or selling for market sentiment.