---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-23-060703"
form_type: "8-K"
ticker: null
cik: "0001431959"
company_name: "META MATERIALS INC."
filed_at: "2023-11-08T23:59:59+00:00"
generated_at: "2026-06-08T09:05:58.569024+00:00"
event_type: "leadership"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Meta Materials appoints new CEO, announces restructuring cost savings of $20-30M annually

## Summary
- CEO Jim Fusaro resigned Nov 4 due to health issues; Uzi Sasson promoted to CEO, effective immediately.
- Ahmed Shebl appointed CAO and Interim CFO; base salary $200K, target bonus 50%.
- Annualized cost savings from restructuring estimated at $20-30M; focus on three core business lines.
- META received $6.2M in new purchase orders; G10 central bank agreement up to 5 years for $41.5M.
- Launched first fully animated nano-optic banknote security product QUANTUM stripe in Sep 2023.

## SEC filing metadata
- accession: 0000950170-23-060703
- form_type: 8-K
- cik: 0001431959
- company_name: META MATERIALS INC.
- filed_at: 2023-11-08T23:59:59+00:00
- event_type: leadership
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1431959/000095017023060703/0000950170-23-060703-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1431959/000095017023060703/mmat-20231104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-23-060703
- JSON: https://secwatch.observer/filing/0000950170-23-060703.json
- Plain text: https://secwatch.observer/filing/0000950170-23-060703.txt

## Key facts
- Executive change
  Uzi Sasson changed role as Chief Executive Officer at META MATERIALS INC..
  - Action: promoted
  - Role: Chief Executive Officer
  source text: On November 5, 2023, the Board promoted Uzi Sasson to CEO of the Company to replace Mr. Fusaro.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1431959/000095017023060703/0000950170-23-060703-index.htm
- Executive change
  Jim Fusaro resigned as Chief Executive Officer at META MATERIALS INC..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On November 4, 2023, Jim Fusaro resigned as Chief Executive Officer (“CEO”) and as a member of the Board of Directors (the “Board”) of Meta Materials Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1431959/000095017023060703/0000950170-23-060703-index.htm

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