Julie Saiki, Chief Strategy Officer of Adial Pharmaceuticals, Inc., filed an initial statement of beneficial ownership on October 30, 2026, with an event date of October 28, 2026, disclosing direct holdings in common stock, restricted stock units, stock options, and Series A Preferred Stock convertible into common stock.

Key Highlights

  • Reporting person and role: Julie Saiki is identified as Chief Strategy Officer of Adial Pharmaceuticals, Inc. (NASDAQ:ADIL).
  • Common stock holdings: Saiki directly owns 72,719 shares subject to RSU vesting terms and an additional 62,665 shares of common stock directly.
  • Stock options: Three stock options are disclosed: 72,719 shares at $2.98 expiring 06/12/2036, 31,915 shares at $1.57 expiring 11/21/2033 (immediately exercisable), and 67,021 shares at $0.63 expiring 04/20/2036.
  • Series A Preferred Stock: Saiki holds Series A Preferred Stock convertible into 1,852,229 shares of common stock, with each share convertible into 1,000 shares of common stock.
  • Conversion approval: Stockholders approved the Preferred Stock Conversion Proposal on October 28, 2026, triggering automatic conversion within three business days.
  • Merger background: The Series A Preferred Stock arose from a merger on June 11, 2026, in which Adial Pharmaceuticals acquired Old Azora Therapeutics, Inc.

Saiki's Initial Ownership Disclosure Following Adial-Azora Merger

According to the filing, Julie Saiki holds securities in Adial Pharmaceuticals across multiple classes. She directly owns 62,665 shares of common stock and a further 72,719 shares represented by restricted stock units (RSUs). The filing states the RSUs vest as to 25% of shares on the first anniversary of the June 12, 2026 grant date, with the remaining shares vesting in 36 equal monthly installments thereafter, subject to continuous service.

Three stock options are reported. The first covers 72,719 shares of common stock at an exercise price of $2.98, expiring June 12, 2036, with the same 25%-then-monthly vesting schedule tied to the June 12, 2026 grant date. The second covers 31,915 shares at $1.57, expiring November 21, 2033, and is described as immediately exercisable. The third covers 67,021 shares at $0.63, expiring April 20, 2036, with a vesting commencement date of April 20, 2026 and the same 25%-then-monthly structure.

Saiki also holds Series A Non-Voting Convertible Preferred Stock convertible into 1,852,229 shares of common stock, with each share of Series A Preferred Stock convertible into 1,000 shares of common stock. The filing explains that this preferred stock originated in the June 11, 2026 merger between Adial Pharmaceuticals and Old Azora Therapeutics, Inc., under which Old Azora shareholders received shares of the issuer's common stock and Series A Preferred Stock. The filing further states that stockholders approved the Preferred Stock Conversion Proposal on October 28, 2026, and that the Series A Preferred Stock will convert automatically into common stock within three business days following that approval date.

What Was Disclosed

Julie Saiki, Chief Strategy Officer of Adial Pharmaceuticals, filed an initial beneficial ownership statement disclosing direct holdings of common stock, RSUs, three stock options at varying exercise prices and vesting schedules, and Series A Preferred Stock convertible into 1,852,229 common shares following stockholder approval on October 28, 2026.