Director at Adial (NASDAQ: ADIL) receives 9,185 restricted shares

Rhea-AI Filing Summary

Schuyler Kevin reported acquisition or exercise transactions in this Form 4 filing.

ADIAL PHARMACEUTICALS, INC. director Kevin Schuyler received a grant of 9,185 shares of common stock as restricted stock compensation. These restricted shares vest in full on the earlier of the one-year anniversary of the grant date or a Change of Control, subject to his continued service. Following the grant, he holds 9,213 common shares directly, plus 4 shares owned by his wife and 230 shares owned by MVA 151 Investors, LLC, which he controls.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Schuyler Kevin

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	9,185	$0.00	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 9,213 shares (Direct); Common Stock — 4 shares (Indirect, Owned by Mr. Schuyler's wife, Carolyn M. Schuyler)

Footnotes (1)

1. Represents a grant of restricted shares of common stock that vest in full on the earlier of (i) the one-year anniversary of the grant date; or (ii) a Change of Control (as defined in the Issuer's 2017 Equity Incentive Plan, as amended), subject to the Reporting Person's continued service to the Issuer through the vesting date. Mr. Schuyler has control over MVA 151 Investors, LLC.

Key Figures

Restricted stock grant: 9,185 shares Direct holdings after grant: 9,213 shares Indirect holding via spouse: 4 shares +1 more

4 metrics

Restricted stock grant 9,185 shares Common Stock award on 2026-04-07

Direct holdings after grant 9,213 shares Common Stock directly owned by Kevin Schuyler

Indirect holding via spouse 4 shares Owned by Carolyn M. Schuyler

Indirect holding via LLC 230 shares Owned by MVA 151 Investors, LLC controlled by Schuyler

Key Terms

restricted shares, Change of Control, Equity Incentive Plan

3 terms

restricted shares financial

"Represents a grant of restricted shares of common stock that vest in full"

Restricted shares are company stock that cannot be sold or transferred immediately because they are subject to legal or contractual limits, such as a required holding period or performance conditions. They matter to investors because these locked-up shares can affect a company’s available stock for trading, future dilution, and insider incentives—imagine a gift that can’t be cashed until certain conditions are met, which changes when and how much supply can suddenly enter the market.

Change of Control financial

"earlier of (i) the one-year anniversary of the grant date; or (ii) a Change of Control"

A change of control occurs when the ownership or management of a company shifts significantly, such as through a sale, merger, or acquisition, resulting in new leadership or ownership structure. This change can impact the company's direction and decision-making, which is important for investors because it may affect the company's stability, strategy, and future prospects.

Equity Incentive Plan financial

"as defined in the Issuer's 2017 Equity Incentive Plan, as amended"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Schuyler Kevin

(Last) (First) (Middle)

4870 SADLER ROAD, STE 300

(Street)

GLEN ALLEN VIRGINIA 23060

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ADIAL PHARMACEUTICALS, INC. [ ADIL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	04/07/2026		A		9,185(1)	A	$0	9,213	D
Common Stock								4	I	Owned by Mr. Schuyler's wife, Carolyn M. Schuyler
Common Stock								230	I	Owned by MVA 151 Investors, LLC(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a grant of restricted shares of common stock that vest in full on the earlier of (i) the one-year anniversary of the grant date; or (ii) a Change of Control (as defined in the Issuer's 2017 Equity Incentive Plan, as amended), subject to the Reporting Person's continued service to the Issuer through the vesting date.

2. Mr. Schuyler has control over MVA 151 Investors, LLC.

	/s/ John Martin, Attorney-in-fact for Kevin Schuyler	04/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did ADIL director Kevin Schuyler report in this Form 4 filing?

Kevin Schuyler reported receiving a grant of 9,185 restricted shares of ADIL common stock. The award is compensation, not a market purchase, and increases his direct holdings to 9,213 shares, with additional indirect holdings through his spouse and an LLC.

How many ADIL shares does Kevin Schuyler hold after the reported grant?

After the grant, Kevin Schuyler holds 9,213 ADIL common shares directly. He also has indirect ownership of 4 shares held by his wife and 230 shares held by MVA 151 Investors, LLC, which he controls, according to the filing disclosures.

What are the vesting terms of Kevin Schuyler’s 9,185 restricted ADIL shares?

The 9,185 restricted ADIL shares vest in full on the earlier of the one-year anniversary of the grant date or a Change of Control. Vesting is conditioned on Schuyler’s continued service to the company through the applicable vesting date.

Is the 9,185-share ADIL award a market purchase or compensation grant?

The 9,185-share ADIL award is a compensation grant of restricted stock, reported with code "A" for grant or award acquisition. It carries a per-share transaction price of $0.00, indicating it was not acquired in an open-market purchase.

What indirect ADIL shareholdings related to Kevin Schuyler are disclosed?

The filing notes 4 ADIL shares owned by Kevin Schuyler’s wife and 230 shares owned by MVA 151 Investors, LLC. A footnote states that Schuyler has control over MVA 151 Investors, LLC, giving him indirect influence over those 230 shares.