Check-Cap Ltd. Appoints Dan Hilerowitz as New CFO, Mira Rosenzweig Resigns

TL;DR

**Check-Cap's CFO is out, new one in, smooth transition expected.**

AI Summary

Check-Cap Ltd. announced a change in its executive management team. Mrs. Mira Rosenzweig resigned as Chief Financial Officer, effective April 4, 2024, a decision not related to any disagreements with the company. The board has appointed Mr. Dan Hilerowitz, a 43-year-old Certified Public Accountant with an MBA, as the new CFO, effective March 1, 2024. This matters to investors because a smooth transition in a key financial role can signal stability, while a new CFO might bring fresh perspectives to the company's financial strategy.

Why It Matters

Changes in a company's CFO can impact financial reporting, strategy, and investor confidence, making a smooth transition crucial for shareholders.

Risk Assessment

Risk Level: low — The resignation was not due to disagreements, and a new CFO has already been appointed, indicating a planned and stable transition.

Analyst Insight

Investors should monitor Check-Cap Ltd.'s upcoming financial reports for any shifts in financial strategy or reporting style under the new CFO, Mr. Dan Hilerowitz, but the smooth transition suggests no immediate cause for concern.

Key Players & Entities

• Check-Cap Ltd. (company) — the registrant filing the 6-K
• Mrs. Mira Rosenzweig (person) — resigning Chief Financial Officer
• Mr. Dan Hilerowitz (person) — appointed Chief Financial Officer
• January 6, 2024 (date) — date Mrs. Rosenzweig notified resignation
• April 4, 2024 (date) — effective date of Mrs. Rosenzweig's resignation
• January 11, 2024 (date) — date the board approved Mr. Hilerowitz's appointment
• March 1, 2024 (date) — effective date of Mr. Hilerowitz's appointment
• 43 (number) — Mr. Hilerowitz's age

Forward-Looking Statements

• Check-Cap Ltd. will experience a smooth transition in its CFO role without significant operational disruption. (Check-Cap Ltd.) — high confidence, target: Q2 2024
• Mr. Dan Hilerowitz will bring new financial strategies or perspectives to Check-Cap Ltd. given his prior experience. (Check-Cap Ltd.) — medium confidence, target: Q3 2024

FAQ

Filing Documents

• zk2430772.htm (6-K) — 16KB
• 0001178913-24-000133.txt ( ) — 17KB

From the Filing

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of January 2024 (Report No. 2) Commission File Number: 001-36848 Check-Cap Ltd. Check-Cap Building Abba Hushi Avenue P.O Box 1271 Isfiya, 3009000, Mount Carmel, Israel (Address of principal executive office) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F Form 40-F CONTENTS Changes in Company's Executive Management Team On January 6, 2024, Mrs. Mira Rosenzweig notified Check-Cap Ltd. ("Check-Cap") of her resignation from her position as a Chief Financial Officer of the Company, effective on April 4, 2024. Mrs. Rosenzwig's resignation was not related to any disagreement with Check-Cap on any matter relating to its operations, policies or practices. On January 11, 2024, the board of directors (the "Board") of Check-Cap approved the appointment of Mr. Dan Hilerowitz, CPA, as the Company's chief financial officer, effective on March 1, 2024 and approved the terms of his compensation. Set forth below is certain biographical information regarding the background and experience for Mr. Hilerowitz: Mr. Hilerowitz, 43, is a certified Public Accountant in Israel and holds a bachelor's degree in accounting and finance from the College of Management Academic Studies (Rishon Letzion, Israel) and MBA in Accounting and Economics from Tel-Aviv University. Prior to joining Check-Cap, Mr. Hilerowitz served in key financial leadership roles at renowned companies in the industry, demonstrating a keen ability to navigate complex financial landscapes and contribute to overall organizational success. Prior to that, Mr. Hilerowitz served as an accountant and manager at Ernest & Young Tel-Aviv for six years, working with numerous Nasdaq companies. Mr. Hilerowitz will be providing services to Check-Cap pursuant to a services agreement with Check-Cap and, in connection with Mr. Hilerowitz's appointment, Check-Cap expects to enter into its standard indemnification agreement with Mr. Hilerowitz, on substantially the same terms as the indemnification agreements previously entered into between Check-Cap and each of its directors and executive officers. Mr. Hilerowitz is not a party to any transaction that is disclosable under Item 404 of Regulation S-K. This Report of Foreign Private Issuer on Form 6-K ("Report") is incorporated by reference into Check-Cap's Registration Statements on Form F-3 (File No. 333-211065, 333-225789 and 333-262401) and Form S-8 (File No. 333-203384, 333-226490 and 333-259666) filed with the Securities and Exchange Commission, to be a part thereof from the date on which this Report is submitted, to the extent not superseded by documents or reports subsequently filed or furnished. SIGNATURE 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, thereunto duly authorized. CHECK-CAP LTD. Date: January 11, 2024 By: /s/ Alex Ovadia Name: Alex Ovadia Title: Chief Executive Officer

View Full Filing

View this 6-K filing on SEC EDGAR