CARLSMED, INC. — Form 8-K
Filed September 30, 2026 · analyzed by the 8-K Agent
8-K
— Neutral
significance 48/100
What the filing says
Leo Greenstein separated from Carlsmed on September 25, 2026, receiving $500,000 severance (12 months base salary), prorated bonus, COBRA for 12 months, and partial acceleration of equity awards (32,856 restricted shares fully vested, 83,673 options fully vested, 44,643 of 71,429 2025 options vested with 12-month post-termination exercise window; 11,244 of 44,977 RSUs vested; remaining unvested awards cancelled). Richard Heppenstall hired as new CFO effective September 28, 2026, with $500,000 base salary, 60% bonus target, stock options and RSUs valued at $1.4M each (inducement grants outside 2025 plan), and up to $150,000 relocation benefit.
Why this rating
CFO transition is material but routine; $500K severance is ~0.4% of company's $118M asset base; new CFO hiring with competitive package typical for growth-stage medtech. Reaffirmed 2026 guidance signals operational continuity.
See more from September 30, 2026.
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