NanoViricides extends employment terms for President Diwan and CFO Vyas

NanoViricides, Inc. reported that it entered new extension agreements with two top executives, according to a Form 8-K with a "Date of report (Date of earliest event reported)" of September 28, 2026. The filing was made under the Securities Exchange Act of 1934.¹ The document was signed by Anil Diwan, President and Chairman, on September 29, 2026.

On September 25, 2026, the company entered an Extension Agreement effective July 1, 2026, of Dr. Anil R. Diwan's employment agreement originally dated July 1, 2018, allowing him to continue as President.¹ Under the extension, Diwan will serve as President until June 30, 2027, at a base annual salary of $400,000.¹ The company will also maintain a $2 million term life insurance policy for Diwan, with $1 million assigned to the company and the remainder to his estate.¹ As an incentive, the company granted Diwan 10,204 shares of Series A Preferred Stock, vesting in equal quarterly installments starting September 30, 2026, and fully vesting by June 30, 2027.¹ If terminated without cause, Diwan is eligible for severance equal to six months' salary.¹

Also on September 25, 2026, the company extended Meeta Vyas's employment agreement, originally dated May 31, 2013, allowing her to continue as Chief Financial Officer, effective July 1, 2026.¹ The one-year extension, running through June 30, 2027, keeps the general terms of her prior agreement but adds reimbursement of up to 50% of health insurance costs, capped at $2,500 per month.¹ The extension is renewable annually.¹