Management ChangeNov 12, 2026, 05:21 PM
Lunai Bioworks CEO Salary Reduced to $275K; Severance Waived
AI Summary
Lunai Bioworks, Inc. has amended and restated the employment agreement for its CEO and director, David Weinstein. Effective October 14, 2026, his annual base salary is reduced to $275,000 from $400,000, and he is not entitled to bonuses or equity awards without Board approval. His October 2026 salary payment is deferred. Mr. Weinstein has waived his rights to severance pay and accelerated vesting under the previous agreement, and the non-competition and non-solicitation clauses have been terminated, though confidentiality obligations remain.
Key Highlights
- David Weinstein's employment agreement amended, effective October 14, 2026.
- Annual base salary reduced to $275,000 from $400,000.
- No bonus or equity award unless approved by the Board.
- October 2026 base salary of $28,150.68 is deferred.
- Mr. Weinstein waived severance rights under the prior agreement.
- Non-competition and non-solicitation covenants terminated.
Price Impact
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