Adial Pharma grants 25,666 options to director

ADIAL PHARMACEUTICALS, INC.

Rhea-AI Filing Summary

ADIAL PHARMACEUTICALS, INC. (ADIL) reported that director Wendy B. Young received a grant of stock options for 25,666 shares of common stock on June 12, 2026, at an exercise price of $2.98 per share, expiring June 12, 2036.

The board approved this grant on June 11, 2026, subject to stockholder approval of an increase to the 2017 Equity Incentive Plan, which stockholders provided on September 17, 2026. 2,138 options vested on that approval date, with the remaining 23,528 options vesting in substantially equal installments over 33 months beginning October 12, 2026. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Grant/Award: 25,666 shares

Grant/Award 1 txn

Insider Young Wendy B.

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy) F1, F2	25,666	$0.00	$0.00

Holdings After Transaction: Stock Option (Right to Buy) — 25,666 contracts (Direct)

Footnotes (2)

1. F1. On June 11, 2026, the Issuer's board of directors approved the option grant issued to the Reporting Person on June 12, 2026, which grant was subject to stockholder approval of an amendment to the Issuer's 2017 Equity Incentive Plan to increase the number of shares authorized for issuance thereunder. The Issuer's stockholders approved the plan amendment on September 17, 2026 ("Stockholder Approval Date").
2. F2. 2,138 shares subject to the stock option vested on the Stockholder Approval Date and the remaining 23,528 shares subject to the stock option shall vest in substantially equal installments over a 33-month period, beginning on October 12, 2026.

Key Figures

Stock options granted: 25,666 options Exercise price: $2.98 per share Expiration date: June 12, 2036 +4 more

7 metrics

Stock options granted 25,666 options Grant to director Wendy B. Young on June 12, 2026

Exercise price $2.98 per share Exercise price of stock options granted June 12, 2026

Expiration date June 12, 2036 Expiration of options granted to Wendy B. Young

Options vested on approval date 2,138 options Vested on September 17, 2026, Stockholder Approval Date

Remaining options vesting over time 23,528 options Vest in substantially equal installments over 33 months from October 12, 2026

Vesting period 33 months Remaining options vest over 33 months starting October 12, 2026

Stockholder approval date September 17, 2026 Date stockholders approved amendment to 2017 Equity Incentive Plan

Key Terms

Stock option, 2017 Equity Incentive Plan, Stockholder Approval Date, vesting

4 terms

Stock option financial

"2,138 shares subject to the stock option vested on the Stockholder Approval Date"

A stock option is a contract that gives you the right to buy or sell a company's stock at a specific price within a certain time frame. People use them to potentially make money if the stock's price moves favorably or to protect against losses. It's like holding a coupon that can be used to buy or sell stock at a set price later on.

2017 Equity Incentive Plan financial

"approval of an amendment to the Issuer's 2017 Equity Incentive Plan"

Stockholder Approval Date financial

"vested on the Stockholder Approval Date and the remaining 23,528 shares"

vesting financial

"the remaining 23,528 shares subject to the stock option shall vest"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did ADIL disclose for director Wendy B. Young?

ADIAL PHARMACEUTICALS, INC. disclosed that director Wendy B. Young received a grant of 25,666 stock options for common stock on June 12, 2026, with an exercise price of $2.98 per share and an expiration date of June 12, 2036.

How do the 25,666 ADIL stock options for Wendy B. Young vest?

The filing states that 2,138 options vested on September 17, 2026, the stockholder approval date, and the remaining 23,528 options vest in substantially equal installments over a 33-month period beginning October 12, 2026.

What approvals were required for the ADIL option grant to Wendy B. Young?

The option grant was subject to stockholder approval of an amendment to ADIAL’s 2017 Equity Incentive Plan to increase authorized shares. The board approved the grant on June 11, 2026, and stockholders approved the plan amendment on September 17, 2026.

What is the exercise price and term of Wendy B. Young’s ADIL stock options?

The options have an exercise price of $2.98 per share and an expiration date of June 12, 2036, giving roughly a 10-year term from the June 12, 2026 grant date, as described in the Form 4.

Was the ADIL option grant to Wendy B. Young made under a Rule 10b5-1 plan?

No. The Form 4 indicates the Rule 10b5-1 checkbox is not selected, so no Rule 10b5-1 trading plan is reported in connection with this option grant.

How many ADIL options does Wendy B. Young hold after this transaction?

After this reported grant, the Form 4 shows Wendy B. Young holding 25,666 stock options directly, corresponding to potential underlying common shares in the same amount, subject to the vesting schedule disclosed.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 09/21/2026 - 07:28 PM Accepted by SEC EDGAR 09/21/2026 - 07:25 PM Learn about SEC filing dates

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^*

Young Wendy B.

(Last) (First) (Middle)

C/O ADIAL PHARMACEUTICALS, INC.

4870 SADLER ROAD, SUITE 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)
09/17/2026

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

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
Stock Option (Right to Buy)	$2.98	09/17/2026(1)		A		25,666		(1)(2)	06/12/2036	Common Stock	25,666	$0	25,666	D

Explanation of Responses:

1. On June 11, 2026, the Issuer's board of directors approved the option grant issued to the Reporting Person on June 12, 2026, which grant was subject to stockholder approval of an amendment to the Issuer's 2017 Equity Incentive Plan to increase the number of shares authorized for issuance thereunder. The Issuer's stockholders approved the plan amendment on September 17, 2026 ("Stockholder Approval Date").

2. 2,138 shares subject to the stock option vested on the Stockholder Approval Date and the remaining 23,528 shares subject to the stock option shall vest in substantially equal installments over a 33-month period, beginning on October 12, 2026.

	/s/ Matthew Davidson, Attorney-in-Fact	09/21/2026
	** 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)