Pulse Biosciences Announces Executive and Board Changes

TL;DR

CEO OUT, interim CEO IN. Board shakeup at Pulse Biosciences.

AI Summary

Pulse Biosciences, Inc. announced on December 2, 2024, a series of executive and board changes. Effective December 2, 2024, Darrin R. Uecker resigned as President and Chief Executive Officer and from the Board of Directors. Concurrently, Sarah G. Bohannon was appointed Interim Chief Executive Officer and elected to the Board of Directors. Additionally, Kevin L. Richardson was appointed Interim Chief Financial Officer.

Why It Matters

Significant leadership changes can signal a shift in company strategy or operational focus, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Executive departures and interim appointments often introduce uncertainty regarding future strategy and stability.

Key Players & Entities

• Pulse Biosciences, Inc. (company) — Registrant
• Darrin R. Uecker (person) — Resigned President and CEO
• Sarah G. Bohannon (person) — Appointed Interim CEO and Board Member
• Kevin L. Richardson (person) — Appointed Interim CFO
• December 2, 2024 (date) — Effective date of changes

FAQ

Key Financial Figures

• $0.001 — nge on Which Registered Common stock , $0.001 par value per share PLSE The Nasdaq
• $106,009.61 — iii) an additional severance payment of $106,009.61 in lieu of any 2024 cash bonus; (iv) pa
• $7.45 — s of Company common stock at a price of $7.45 per share; and (v) continuation of Comp

Filing Documents

• plse20241206c_8k.htm (8-K) — 24KB
• 0001437749-24-036862.txt ( ) — 153KB
• plse-20241202.xsd (EX-101.SCH) — 3KB
• plse-20241202_def.xml (EX-101.DEF) — 11KB
• plse-20241202_lab.xml (EX-101.LAB) — 15KB
• plse-20241202_pre.xml (EX-101.PRE) — 11KB
• plse20241206c_8k_htm.xml (XML) — 3KB

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On December 2, 2024, Pulse Biosciences, Inc. (the "Company") and Mr. Burke T. Barrett, President and Chief Executive Officer, agreed that he would resign from the Company, effective as of December 6, 2024 (the "Separation Date"). In addition, Mr. Barrett resigned from the Company's Board of Directors effective as of December 2, 2024. These decisions were not the result of any disagreement relating to the Company's operations, policies or practices. The Company is progressing its respective development, clinical and pilot commercial initiatives for each of its three nano-PFA devices on track with its previously communicated plans. Pursuant to the terms of that certain Separation Agreement between the Company and Mr. Barrett dated December 5, 2024 (the "Separation Agreement"), and in consideration for a signed release of any claims he may have relating to his employment with the Company, Mr. Barrett will be entitled to, among other things: (i) payment of salary through the Separation Date; (ii) severance payments of twenty-four semi-monthly equal installments, which amount represents the sum of twelve months of Mr. Barrett's annual base salary; (iii) an additional severance payment of $106,009.61 in lieu of any 2024 cash bonus; (iv) partial acceleration of vesting of Mr. Barrett's new hire option award allowing him to purchase up to 101,000 shares of Company common stock at a price of $7.45 per share; and (v) continuation of Company-paid health insurance benefits under COBRA until Mr. Barrett is no longer eligible for COBRA continuation benefits or until the twelve-month anniversary of the Separation Date, whichever is earlier. The foregoing description of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which will be filed as

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View this 8-K filing on SEC EDGAR