---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-025877"
form_type: "8-K"
ticker: null
cik: "0001604477"
company_name: "SQZ Biotechnologies Co"
filed_at: "2022-11-30T23:59:59+00:00"
generated_at: "2026-06-21T11:40:46.325276+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# SQZ Biotechnologies Focuses on eAPC Program, Cuts Workforce 60%, CEO Sharei Steps Down

## Summary
- Workforce reduction of approximately 60%, expected to be substantially completed in January 2023.
- Estimated restructuring costs of $5 million for severance and employee-related benefits.
- CEO Armon Sharei stepped down effective Nov 30, 2022; Howard Bernstein appointed Interim CEO.
- CFO Micah Zajic to step down Dec 31, 2022; Richard Capasso named principal financial officer.
- Company pauses first-generation APC, AAC, TAC programs to focus on eAPC; data readout expected mid-2023.

## SEC filing metadata
- accession: 0000950170-22-025877
- form_type: 8-K
- cik: 0001604477
- company_name: SQZ Biotechnologies Co
- filed_at: 2022-11-30T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1604477/000095017022025877/0000950170-22-025877-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1604477/000095017022025877/sqz-20221130.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-025877
- JSON: https://secwatch.observer/filing/0000950170-22-025877.json
- Plain text: https://secwatch.observer/filing/0000950170-22-025877.txt

## Key facts
- Executive change
  Armon Sharei resigned as Chief Executive Officer at SQZ Biotechnologies Co.
  - Action: resigned
  - Role: Chief Executive Officer
  source text: Armon Sharei, Ph.D., Chief Executive Officer and principal executive officer of the Company, has agreed to a separation of service with the Company, effective November 30, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604477/000095017022025877/0000950170-22-025877-index.htm
- Executive change
  Howard Bernstein was appointed as Interim Chief Executive Officer at SQZ Biotechnologies Co.
  - Action: appointed
  - Role: Interim Chief Executive Officer
  source text: Opn November 30, 2022, the Board appointed Howard Bernstein, M.D., Ph.D., a member of the Board and the former Chief Scientific Officer of the Company, as the Company’s Interim Chief Executive Officer, effective upon the November Separation Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604477/000095017022025877/0000950170-22-025877-index.htm
- Executive change
  Micah Zajic resigned as Chief Financial Officer at SQZ Biotechnologies Co.
  - Action: resigned
  - Role: Chief Financial Officer
  source text: Micah Zajic, Chief Financial Officer and principal financial officer of the Company, has also agreed to a separation of service with the Company, effective December 31, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604477/000095017022025877/0000950170-22-025877-index.htm
- Restructurings & Charges
  SQZ Biotechnologies Co announced a restructuring with charges of total expenses of approximately $5 million (workforce reduction of approximately 60 percent).
  - Type: restructuring
  - Charge: total expenses of approximately $5 million
  - Headcount: workforce reduction of approximately 60 percent
  source text: As part of the prioritization decision, the SQZ Biotechnologies Board of Directors approved a restructuring plan which includes a workforce reduction of approximately 60 percent. The company expects to incur total expenses of approximately $5 million as a result of the restructuring plan
  evidence_url: https://www.sec.gov/Archives/edgar/data/1604477/000095017022025877/0000950170-22-025877-index.htm

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