Item 5.02 Departure of Directors or Certain Officers; Election of Directors;

Appointment of Certain Officers; Compensatory Arrangements of Certain

Officers.

As previously announced on March 3, 2023, Aadi Bioscience, Inc. (the "Company") appointed Scott Giacobello as the Company's Interim Chief Executive Officer and President, effective March 15, 2023. This Current Report on Form 8-K/A ("Amendment No. 1") amends Item 5.02 of the Company's Current Report on Form 8-K filed on March 3, 2023 (the "Original Filing") to disclose certain compensation arrangements in connection with Mr. Giacobello's appointment, which such arrangements had not yet been determined when the Original Filing was filed. This Amendment No. 1 supplements the Original Filing and should be read in conjunction with the Original Filing.

On March 24, 2023, the Board of Directors (the "Board") of the Company approved, upon recommendation of the Compensation Committee of the Board, (i) a bonus of $43,000 per calendar quarter (pro-rated for the actual number of days in each quarterly period Mr. Giacobello serves as the Interim Chief Executive Officer and President) and (ii) eligibility to earn an annual cash bonus with a target value of 90% of Mr. Giacobello's actual base salary paid to him during 2023, based on achieving performance objectives established by the Board (or its Compensation Committee) in its sole discretion. In addition, Mr. Giacobello will receive a grant of a stock option to purchase 100,000 shares of the Company's common stock (the "Option"), which will vest as follows: 25% of the shares subject to the Option shall vest on the one year anniversary of the vesting commencement date and 1/48th of the total shares subject to the Option shall vest every month thereafter such that the Option shall be fully vested on the four year anniversary of the vesting commencement date, in each case subject to Mr. Giacobello continuing to be a "Service Provider" (as defined in the Company's 2021 Equity Incentive Plan (the "Plan")) through each applicable vesting date. The Option will be subject to the terms and conditions of the Plan and an award agreement substantially in the form of the publicly filed Stock Option Award Agreement pursuant to the Plan.

As previously announced, Mr. Giacobello will continue in his position as the Company's Chief Financial Officer and the compensation arrangements described above will be provided to Mr. Giacobello in connection with his previously announced appointment as the Company's Interim Chief Executive Officer and President.

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