Inducement AwardsAs an inducement to Dr. Davidson and Ms. Saiki becoming employees of Adial, Adial granted Dr. Davidson 424,446 restricted stock units and stock options to purchase 424,447 shares of Company common stock and granted Ms. Saiki 132,802 restricted stock units and stock options to purchase 132,802 shares of Company common stock. The option awards granted to Dr. Davidson and Ms. Saiki have an exercise price of $2.98 per share, the closing price of the Company's common stock on June 12, 2026, and have a ten-year term. The restricted stock units and the options awarded to Dr. Davidson and Ms. Saiki will vest as follows: (i) with respect to 232,417 restricted stock units and options to purchase 232,417 shares of Company common stock granted to Dr. Davidson and 72,719 restricted stock unit and options to purchase 72,719 shares of Company common stock granted to Ms. Saiki, pro rata on a monthly basis over three years commencing on the one month anniversary of the effective grant date thereof and (ii) with respect to 192,029 restricted stock units and options to purchase 192,030 shares of Company common stock granted to Dr. Davidson and 60,083 restricted stock unit and options to purchase 60,083 shares of Company common stock granted to Ms. Saiki, a pro rata portion of such awards will be subject to the same vesting included in (i) upon the sale and issuance by the Company of each pre-funded warrant and common warrant (collectively, the "Milestone Warrants") to investors pursuant ...
