UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT PURSUANT TO
SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Emerging growth company
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On December 30, 2022, Leo Ehrlich, Chief Executive Officer of Innovation Pharmaceuticals Inc. (the “Company”), surrendered 11,307,527 shares of the Company’s Class B common stock to the Company for individual tax planning purposes. Mr. Ehrlich received no consideration for the surrender of the shares.
Following the surrender of the shares, 4,333,936 shares of Class B common stock remain outstanding, all of which are held by Mr. Ehrlich. Each share of Class B common stock entitles the holder to ten votes per share and each share of Class A common stock entitles the holder to one vote per share on all matters submitted to the Company’s stockholders for a vote. The Class B common stock is convertible at any time by the holder into shares of Class A common stock on a share-for-share basis.
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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.
INNOVATION PHARMACEUTICALS INC. | |||
Dated: January 4, 2023 | By: | /s/ Leo Ehrlich | |
| Name: | Leo Ehrlich | |
Title: | Chief Executive Officer | ||
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