---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-22-027095"
form_type: "8-K"
ticker: "CCEL"
cik: "0000862692"
company_name: "CRYO CELL INTERNATIONAL INC"
filed_at: "2022-12-29T23:59:59+00:00"
generated_at: "2026-06-20T22:13:04.484329+00:00"
event_type: "other"
sentiment: "neutral"
materiality_score: 0.45
calibrated_materiality_score: 0.45
confidence: "high"
source: SEC EDGAR
---

# Cryo-Cell enters new 2-year employment agreements with co-CEOs; base salaries set at $700K and $540K

## Summary
- David Portnoy base salary $700K; Mark Portnoy base salary $540K; effective Dec 1, 2022.
- Signing option grants: 50K shares (David) and 25K shares (Mark), exercisable only if stock closes above $8.00.
- Severance for involuntary termination or resignation for good reason: 2x base salary plus average of recent bonuses, paid over 3 years.
- David Portnoy's principal workplace is Miami; commuting expenses to Tampa HQ are reimbursable.
- Agreements include one-year non-competition and 12-month non-solicitation restrictions.

## SEC filing metadata
- accession: 0000950170-22-027095
- form_type: 8-K
- ticker: CCEL
- cik: 0000862692
- company_name: CRYO CELL INTERNATIONAL INC
- filed_at: 2022-12-29T23:59:59+00:00
- event_type: other
- sentiment: neutral
- materiality_score: 0.45
- calibrated_materiality_score: 0.45
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/862692/000095017022027095/0000950170-22-027095-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/862692/000095017022027095/ccel-20221223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-22-027095
- JSON: https://secwatch.observer/filing/0000950170-22-027095.json
- Plain text: https://secwatch.observer/filing/0000950170-22-027095.txt

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