Anderson J. Kermit 4

What Happened

• Anderson J. Kermit, a director of Adial Pharmaceuticals, Inc. (ADIL), received a derivative equity award on 2026-04-07 covering 9,185 shares. The Form 4 reports the acquisition price as $0.00 and classifies the transaction as an award/grant (code A). This is a compensation award (not an open-market purchase or sale).

Key Details

• Transaction date: 2026-04-07; filing date: 2026-04-09 (filed promptly).
• Reported acquisition: 9,185 shares; reported price: $0.00 (derivative instrument).
• Shares owned after the transaction: not specified in the provided filing details.
• Footnote: The option vests in full on the earlier of (i) the one-year anniversary of the grant date or (ii) a Change of Control (per the Issuer’s 2017 Equity Incentive Plan), subject to continued service by the reporting person.

Context

• This was a grant of a derivative award (an option), meaning Kermit received the right to acquire shares subject to vesting conditions — it is not an immediate purchase or sale of common stock.
• Such awards are common as director compensation; they reflect potential future ownership if vesting and any exercise conditions are met, and do not by themselves indicate buying or selling sentiment.