---
schema_version: "secwatch.filing_event.v1"
accession: "0000950142-22-002222"
form_type: "8-K"
ticker: "NRXP"
cik: "0001719406"
company_name: "NRX Pharmaceuticals, Inc."
filed_at: "2022-07-15T23:59:59+00:00"
generated_at: "2026-06-24T14:14:44.451229+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# NRXP receives Nasdaq delisting warning for bid price below $1; appoints Stephen Willard as CEO

## Summary
- Nasdaq notified NRXP on July 12, 2022 of non-compliance with minimum bid price rule (below $1 for 30 days); 180-day cure period to Jan 9, 2023.
- Stephen Willard appointed CEO and director effective July 12, 2022; base salary $500k/yr, target bonus $250k, 1M restricted shares vesting over 3 years.
- Interim CEO Robert Besthof returns to roles as Head of Operations and Chief Commercial Officer.
- Mr. Willard previously CEO of Cellphire Therapeutics and Flamel Technologies; also a National Science Board presidential appointee (2018-2024).

## SEC filing metadata
- accession: 0000950142-22-002222
- form_type: 8-K
- ticker: NRXP
- cik: 0001719406
- company_name: NRX Pharmaceuticals, Inc.
- filed_at: 2022-07-15T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 3.01, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1719406/000095014222002222/0000950142-22-002222-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1719406/000095014222002222/eh220269223_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950142-22-002222
- JSON: https://secwatch.observer/filing/0000950142-22-002222.json
- Plain text: https://secwatch.observer/filing/0000950142-22-002222.txt

## Key facts
- Executive change
  Robert Besthof changed role as Head of Operations and Chief Commercial Officer at NRX Pharmaceuticals, Inc..
  - Action: resume responsibilities
  - Role: Head of Operations and Chief Commercial Officer
  source text: With the appointment of Mr. Willard as the new CEO, the interim CEO, Mr. Robert Besthof, has agreed to remain with the Company and will resume his responsibilities as Head of Operations Officer and Chief Commercial Officer for the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1719406/000095014222002222/0000950142-22-002222-index.htm
- Executive change
  Stephen Willard was appointed as Chief Executive Officer and Director at NRX Pharmaceuticals, Inc..
  - Action: appointed
  - Role: Chief Executive Officer and Director
  source text: On July 12, 2022, the Board of Directors of NRx Pharmaceuticals, Inc. (the “Company”) appointed Stephen Willard, 61, to serve as Chief Executive Officer (“CEO”) of the Company and a member of the Board of Directors, with immediate effect.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1719406/000095014222002222/0000950142-22-002222-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.