Edesa Biotech Inc. filed SEC Form 8-K: Leadership Update
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| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On May 13, 2026, the Board of Directors of Edesa Biotech, Inc. (the “Company”), at the request of Pardeep Nijhawan, the Company’s Chief Executive Officer, approved, pursuant to the terms of the Amended and Restated Employment Agreement, dated August 4, 2023, as amended (the “Employment Agreement”) between the Company and Dr. Nijhawan, that 90% of Dr. Nijhawan’s monthly base salary otherwise payable in cash shall be issued in the form of fully vested restricted share units (“RSUs”) under the Company’s 2019 Equity Incentive Compensation Plan (the “Plan”). The Employment Agreement provides that Dr. Nijhawan and the Company may agree that Dr. Nijhawan receive a portion of his base salary otherwise payable in cash in equity-based awards under the Plan, in amounts and on terms determined by the Board of Directors of the Company. The number of RSUs to be granted each month shall be calculated by dividing 90% of Dr. Nijhawan’s monthly base salary by the fair market value of the Company’s common shares at each month end. The RSU grants are subject to the terms and conditions of the Plan and the applicable award agreement. Dr. Nijhawan will receive the remaining 10% of his monthly salary in cash to satisfy local labor law and withholding requirements. Dr. Nijhawan previously received 50% of his base salary as RSUs.
The foregoing description of the compensatory arrangement does not purport to be complete and is qualified in its entirety by reference to the Employment Agreement, which is filed as an exhibit to the Company’s Annual Report on Form 10-K for the year ended September 30, 2025, filed on December 12, 2025, and incorporated herein by reference.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Edesa Biotech, Inc. | ||
| Date: May 15, 2026 | By: | /s/ Peter J. Weiler |
| Name: | Peter J. Weiler | |
| Title: | Chief Financial Officer | |