Ocean Biomedical Appoints New Director, Reports Officer Compensation

TL;DR

Ocean Biomedical swapped a director and is talking about exec pay.

AI Summary

Ocean Biomedical, Inc. announced on January 30, 2024, a change in its board of directors. Specifically, the company reported the departure of Director Dr. Jonathan S. Roth and the appointment of Dr. David G. R. Smith as a new director. The filing also noted compensatory arrangements for certain officers.

Why It Matters

Changes in board composition can signal shifts in company strategy or governance, while details on officer compensation provide insight into management incentives.

Risk Assessment

Risk Level: medium — Board changes and executive compensation details can impact investor confidence and signal potential strategic shifts.

Key Players & Entities

• Ocean Biomedical, Inc. (company) — Registrant
• Dr. Jonathan S. Roth (person) — Departing Director
• Dr. David G. R. Smith (person) — Appointed Director
• January 30, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $0.0001 — ction 12(b) of the Act: Common Stock, $0.0001 par value OCEA The Nasdaq Stock Mar
• $11.50 — of common stock at an exercise price of $11.50 OCEAW The Nasdaq Stock Market LLC
• $22,500 — of Law. Ms. Kahn is being compensated $22,500 per month for her services as both CFO

Filing Documents

• form8-k.htm (8-K) — 38KB
• 0001493152-24-008720.txt ( ) — 251KB
• ocea-20240130.xsd (EX-101.SCH) — 3KB
• ocea-20240130_def.xml (EX-101.DEF) — 26KB
• ocea-20240130_lab.xml (EX-101.LAB) — 36KB
• ocea-20240130_pre.xml (EX-101.PRE) — 25KB
• form8-k_htm.xml (XML) — 5KB

From the Filing

UNITED 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 Date of Report (Date of earliest event reported): January 30, 2024 OCEAN BIOMEDICAL, INC. (Exact name of registrant as specified in its charter) Delaware 001-40793 87-1309280 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 55 Claverick St. , Room 325 Providence , RI 02903 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (401) 444-7375 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement 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: Common Stock, $0.0001 par value OCEA The Nasdaq Stock Market LLC Warrants, each warrant exercisable for one share of common stock at an exercise price of $11.50 OCEAW The Nasdaq Stock Market LLC (Title of Each Class) (Trading Symbol) (Name of Each Exchange on Which Registered) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (CFR 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (CFR 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. Item 5.02 Resignation of an Officer; Appointment of an Officer. On March 1, 2024, the appointment of Jolie Kahn, as Chief Financial Officer of Ocean Biomedical, Inc. (the " Company ") was confirmed. Ms. Kahn replaces Gurinder Kalra who resigned effective January 30, 2024 to pursue other interests. Jolie Kahn has an extensive background in corporate finance and corporate and securities law. She has been the proprietor of Jolie Kahn, Esq. since 2002. Ms. Kahn has also acted in various corporate finance roles, including extensive involvement of preparation of period filings and financial statements and playing an integral part in public company audits and served, on a part time basis, as the Chief Financial Officer, of GlucoTrack, Inc. from September 2019 to September 2023 and interim CFO of ToughBuilt Industries, Inc., on a part time basis, from July 2019 to July 2020. She also works with companies and hedge funds in complex transactions involving the structuring and negotiation of multi-million-dollar debt and equity financings, mergers, and acquisitions. Ms. Kahn has practiced law in the areas of corporate finance, mergers & acquisitions, reverse mergers, and general corporate, banking, and real estate matters. She represents both public and private companies, hedge funds, and other institutional investors in their role as investors in public companies. Ms. Kahn holds a BA from Cornell University and a J.D. magna cum laude from the Benjamin N. Cardozo School of Law. Ms. Kahn is being compensated $22,500 per month for her services as both CFO and counsel to the Company. 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 hereunto duly authorized. Date: March 4, 2024 OCEAN BIOMEDICAL, INC. By: /s/ Jolie Kahn Jolie Kahn Chief Financial Officer

View Full Filing

View this 8-K filing on SEC EDGAR