Akari Therapeutics, Plc has amended the employment agreement of its Chief Executive Officer, Abizer Gaslightwala, effective August 18, 2026. The amendment, filed with the Securities and Exchange Commission on September 29, 2026, details a restructuring of the executive's compensation package.
The primary change involves an increase in Mr. Gaslightwala’s annual base salary from $475,000 to $625,000. To facilitate this increase, the company will grant 10% of the raise, or $62,500, in the form of restricted stock units (RSUs) under the 2023 Equity Incentive Plan. These RSUs are valued based on the fair market value on the grant date and will vest in four equal quarterly installments between November 18, 2026, and August 18, 2027. The vesting of these RSUs is contingent upon the company obtaining shareholder approval to amend the 2023 Plan to increase the number of American Depositary Shares reserved for issuance. If such approval is not secured, the RSUs will be forfeited, and the company will make adjustment payments to ensure the executive receives the full cash salary.
In addition to the salary increase, the amendment raises Mr. Gaslightwala’s target annual bonus opportunity from 50% of base salary to 55%. This adjustment results in a combined target annual compensation of approximately $970,000. The filing also notes the grant of options to purchase 174,000 American Depositary Shares (ADSs) under the 2023 Plan, with vesting occurring in equal monthly installments over a four-year period starting from March 18, 2026.
