Adial Pharmaceuticals, Inc. reported that Matt Davidson, its President and CEO, converted Series A Preferred Stock into 524,954 common shares held directly on November 2, 2026; his direct common-stock holdings afterward were 819,018 shares. The Matt and Alli Davidson Trust, for which Davidson is co-trustee, received 101,298 common shares in the conversion and held 104,725 shares afterward. Each preferred share converts into 1,000 common shares, subject to beneficial-ownership and other limits; the conversion occurred automatically within three days of stockholders approving the related common-stock issuance proposal.
ADIAL PHARMACEUTICALS, INC. (AZR) Chief Strategy Officer Julie Saiki converted 626.252 Series A Preferred Stock shares into 626,252 common shares on November 2, 2026. Each preferred share converted into 1,000 common shares, subject to certain beneficial ownership and other limits; the conversion occurred automatically within three days of stockholder approval. Afterward, Saiki directly held 761,636 common shares and 1,225.977 Series A Preferred Stock shares.
Series A Non-Voting Convertible Preferred Stock of Adial Pharmaceuticals, Inc. (AZR) automatically converted into common stock on November 2, 2026, subject to each holder’s beneficial ownership limitations. Coastlands Capital LP, identified as a ten percent owner, reported indirect holdings of 388,308 common shares following the conversion.
The reporting persons stated that, as a result of the conversion, they ceased to beneficially own more than 10% of the outstanding common stock.
Adial Pharmaceuticals, Inc. (AZR) is associated with an amended beneficial-ownership report stating that the reporting persons share voting and dispositive power over 655,975 shares, including shares issuable upon exercise of pre-funded warrants held directly by Coastlands Capital Partners LP. The reported ownership is 4.99%; the reporting persons describe the amendment as an exit filing because they no longer beneficially own more than 5% of any class. The amendment says it corrects an earlier issuer CIK error and otherwise does not modify the disclosures.