---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-24-007440"
form_type: "8-K"
ticker: null
cik: "0001431959"
company_name: "META MATERIALS INC."
filed_at: "2024-01-25T23:59:59+00:00"
generated_at: "2026-06-06T18:13:34.331665+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Meta Materials terminates $6M stock purchase deal; CEO Sasson adds President and interim CFO roles

## Summary
- Settlement agreement ends Gregory McCabe's obligation to purchase up to $6M of MMAT common stock.
- McCabe to pay $700K to company and assign prior stock purchases; additional $700K due if stock hits target within 2 years.
- CEO Uzi Sasson appointed as President (Jan 25) and principal financial officer (Jan 22) with no extra compensation.
- Sasson will serve as interim CFO until a permanent successor is appointed.

## SEC filing metadata
- accession: 0000950170-24-007440
- form_type: 8-K
- cik: 0001431959
- company_name: META MATERIALS INC.
- filed_at: 2024-01-25T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 1.02, 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1431959/000095017024007440/0000950170-24-007440-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1431959/000095017024007440/mmat-20240121.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-007440
- JSON: https://secwatch.observer/filing/0000950170-24-007440.json
- Plain text: https://secwatch.observer/filing/0000950170-24-007440.txt

## Key facts
- Executive change
  Uzi Sasson was appointed as President at META MATERIALS INC..
  - Action: appointed
  - Role: President
  source text: On January 25, 2024, the Board of Directors (the “Board”) of the Company appointed Uzi Sasson to serve as President of the Company, in addition to his role as Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1431959/000095017024007440/0000950170-24-007440-index.htm
- Executive change
  Uzi Sasson was appointed as Principal Financial Officer at META MATERIALS INC..
  - Action: appointed
  - Role: Principal Financial Officer
  source text: on January 22, 2024, the Board appointed Mr. Sasson to act as the principal financial officer of the Company for SEC reporting purposes, and he will serve in such role until a new principal financial officer is appointed by the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1431959/000095017024007440/0000950170-24-007440-index.htm
- Material Agreements
  META MATERIALS INC. terminated Common Stock Purchase Agreement with Gregory McCabe valued at Termination of obligation to purchase up to $6,000,000 of common stock; consideration includes $700, (effective 2024-01-21).
  - Action: termination
  - Agreement: equity purchase
  - Counterparty: Gregory McCabe
  - Value: Termination of obligation to purchase up to $6,000,000 of common stock; consideration includes $700,
  - Effective: 2024-01-21
  source text: Item 1.02 Termination of a Material Definitive Agreement. As previously reported, on September 8, 2023, the Company entered into a common stock purchase agreement (the “Purchase Agreement”) with Gregory McCabe (the “Purchaser”), pursuant to which Mr. McCabe agreed to purchase up to an aggregate amount of $6,000,000 of the Company’s common stock. On January 21, 2024, the Company entered into a settlement agreement (the “Release Agreement”) with Purchaser, pursuant to which the Company and the Purchaser agreed to terminate the Purchase Agreement. Under the terms of the Release Agreement, Purchaser was relieved of any obligation to make additional stock purchases under the Purchase Agreement. The terms of the Release Agreement require (i) a payment of $700,000 by Purchaser to the Company, (ii) assignment to the Company of all stock purchases made by Purchaser under the Purchase Agreement and (iii) an additional payment of $700,000 by Purchaser to the Company if the Company’s common stock
  evidence_url: https://www.sec.gov/Archives/edgar/data/1431959/000095017024007440/0000950170-24-007440-index.htm

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