Lunai Bioworks Inc.
Lunai Bioworks filed an 8-K disclosing an Amended and Restated Employment Agreement with CEO David Weinstein, effective Oct 14, 2026. His base salary drops to $275,000 from $400,000, with no bonus or equity unless board-approved, and his term ends Dec 28, 2026 unless extended. Weinstein waived six months' severance (~$200,000), continued benefits, and accelerated vesting, and his non-compete/non-solicit covenants were terminated. The filing also notes the company filed a Form 25 on Nov 2, 2026 to voluntarily delist from Nasdaq, effective ~Nov 12, 2026.
- CEO base salary cut to $275,000 from $400,000, effective Oct 14, 2026.
- Weinstein waived ~$200,000 in severance, continued benefits, and accelerated vesting rights.
- Employment term ends Dec 28, 2026 unless extended by written agreement.
- Non-competition and non-solicitation covenants terminated; confidentiality obligations continue.
- Company filed Form 25 to voluntarily delist from Nasdaq, effective ~Nov 12, 2026.
Price data unavailable.
The combination of voluntary Nasdaq delisting and a CEO pay cut with waived severance signals a company in wind-down mode.
_Not applicable._
Voluntary Nasdaq delisting removes exchange liquidity and reporting oversight; CEO's at-will term ends Dec 28, 2026, creating leadership uncertainty.