8-K - PETV - Equibles

UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d) of the Securities Exchange Act of 1934

April 15, 2024

Date

of Report (Date of earliest event reported)

PETVIVO

HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

Nevada	001-40715	99-0363559
(State<br> or other jurisdiction <br><br>of incorporation)	(Commission<br><br> <br>File<br> Number)	(IRS<br> Employer<br><br> <br>Identification<br> No.)
5251 Edina Industrial Blvd.<br><br> <br>Edina, Minnesota	55439
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(Address<br> of principal executive offices)	(Zip<br> Code)

(952)405-6216

Registrant’s

telephone number, including area code

Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written<br> communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting<br> material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement<br> communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement<br> communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common<br> Stock, par value $0.001	PETV	The<br> Nasdaq Stock Market LLC
Warrants<br> to purchase Common Stock	PETVW	The<br> Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

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. ☐

Item5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements ofCertain Officers.

Company-WideCost Reduction Program

The Company has begun instituting a Company-wide cost reduction program (the “Program”) led by Garry Lowenthal, the Company’s new Chief Financial Officer. Pursuant to the Program, two executives on the Company’s senior leadership have agreed to reduce their salaries. Specifically, effective as of May 1, 2024, (a) the annual salary of Mr. Lai, the Company’s Chief Executive Officer, shall be reduced from $350,000 to $150,000, and (b) the annual salary of John Dolan, the Company’s Chief Business Development Officer and General Counsel, shall be reduced from $230,000 to $120,000. The Company expects to implement additional labor and operating cost reductions in the near future. The Company expects this Program will assist the Company in preserving its cash, in addition to reducing the Company’s operating loss and monthly cash burn.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	PETVIVO HOLDINGS, INC.
Date:<br> April 22, 2024	By:	/s/ John Lai
	Name:	John<br> Lai
	Title:	Chief<br> Executive Officer

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