NovaBay Pharma CFO Departs, Interim Appointed; New Directors Elected
Ticker: NBY · Form: 8-K · Filed: Jan 22, 2025 · CIK: 1389545
Sentiment: neutral
Topics: management-change, board-election
TL;DR
CFO out, interim in, two new board members for NovaBay. Watch for strategy shifts.
AI Summary
NovaBay Pharmaceuticals, Inc. announced on January 15, 2025, the departure of its Chief Financial Officer, Mark J. Watson III. The company has appointed Dr. Justin Hall as interim CFO. Additionally, the company elected two new directors, Dr. David J. Glick and Mr. Steven R. Smith, to its board.
Why It Matters
Changes in key executive and board positions can signal shifts in company strategy or financial oversight, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Executive and board changes, especially involving the CFO, can introduce uncertainty regarding financial strategy and stability.
Key Players & Entities
- NovaBay Pharmaceuticals, Inc. (company) — Registrant
- Mark J. Watson III (person) — Departing Chief Financial Officer
- Dr. Justin Hall (person) — Interim Chief Financial Officer
- Dr. David J. Glick (person) — Newly Elected Director
- Mr. Steven R. Smith (person) — Newly Elected Director
- January 15, 2025 (date) — Date of earliest event reported
FAQ
Who has been appointed as the interim Chief Financial Officer of NovaBay Pharmaceuticals?
Dr. Justin Hall has been appointed as the interim Chief Financial Officer.
When was the earliest event reported in this Form 8-K filing?
The earliest event reported was on January 15, 2025.
Who are the newly elected directors to NovaBay Pharmaceuticals' board?
Dr. David J. Glick and Mr. Steven R. Smith have been elected as new directors.
What was the previous role of Mark J. Watson III at NovaBay Pharmaceuticals?
Mark J. Watson III was the Chief Financial Officer.
What is the principal executive office address for NovaBay Pharmaceuticals?
The address is 2000 Powell Street, Suite 1150, Emeryville, CA 94608.
Filing Stats: 703 words · 3 min read · ~2 pages · Grade level 11.5 · Accepted 2025-01-22 16:27:18
Key Financial Figures
- $0.01 — h Registered Common Stock , par value $0.01 per share NBY NYSE American Indicat
Filing Documents
- nby20250120_8k.htm (8-K) — 30KB
- ex_767713.htm (EX-10.4) — 15KB
- 0001437749-25-001566.txt ( ) — 180KB
- nby-20250115.xsd (EX-101.SCH) — 3KB
- nby-20250115_def.xml (EX-101.DEF) — 12KB
- nby-20250115_lab.xml (EX-101.LAB) — 15KB
- nby-20250115_pre.xml (EX-101.PRE) — 12KB
- nby20250120_8k_htm.xml (XML) — 3KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangement of Certain Officers. On January 15, 2025, the Company and Justin M. Hall, the Chief Executive Officer and General Counsel of the Company, executed a Third Amendment (the "Third Amendment") to Mr. Hall's Executive Employment Agreement, dated January 31, 2020 (the "Employment Agreement"), as amended by the First Amendment to Executive Employment Agreement, effective as of December 31, 2021 (the "First Amendment") and the Second Amendment to Executive Employment Agreement, effective as of December 31, 2023 (the "Second Amendment"), to further extend the term of his employment under the Employment Agreement until December 31, 2025 (unless terminated earlier in accordance with the terms of the Employment Agreement). The foregoing description of the terms of the Employment Agreement, the First Amendment, the Second Amendment and the Third Amendment do not purport to be complete and are subject to, and are qualified in their entirety by, reference to the Employment Agreement, the First Amendment, the Second Amendment and the Third Amendment, which are filed herewith as Exhibits 10.1, 10.2, 10.3 and 10.4, respectively, and are incorporated by reference.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1+ Executive Employment Agreement with Justin M. Hall, dated January 31, 2020 (incorporated by reference to Exhibit 10.1 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on February 6, 2020) 10.2+ First Amendment to Executive Employment Agreement with Justin M. Hall, effective December 31, 2021 (incorporated by reference to Exhibit 10.6 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on January 28, 2022) 10.3+ Second Amendment to Executive Employment Agreement with Justin M. Hall, effective December 31, 2023 (incorporated by reference to Exhibit 10.3 of the Company's Current Report on Form 8-K filed with the Securities and Exchange Commission on December 11, 2023) 10.4+ Third Amendment to Executive Employment Agreement with Justin M. Hall, effective December 31, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) + Indicates a management contract or compensatory plan or arrangement
SIGNATURES
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. NovaBay Pharmaceuticals, Inc. By: /s/ Justin M. Hall Justin M. Hall Chief Executive Officer and General Counsel Dated: January 22, 2025