{"schema_version":"secwatch.filing_event.v1","accession":"0000950170-24-089939","form_type":"8-K","ticker":"LITS","cik":"0001262104","company_name":"Lite Strategy, Inc.","filed_at":"2024-08-02T23:59:59+00:00","discovered_at":"2026-05-14T18:03:12.417506+00:00","generated_at":"2026-05-31T13:22:47.809556+00:00","sec_items":["5.02","9.01"],"event_type":"leadership","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"CEO and CMO depart; MEI Pharma evaluates wind-down; CFO becomes Acting CEO","bullets":["CEO David M. Urso and CMO Richard G. Ghalie depart effective Aug 1, 2024; eligible for severance (12 mo salary, COBRA, prorated bonus, accelerated vesting).","Executives signed consulting agreements ($475/hr) to assist asset sales; Urso eligible for 8% success fee, Ghalie 2% on net proceeds from voruciclib, ME-344, zandelisib.","CFO Justin J. File appointed Acting CEO; base salary raised to $550k, bonus target increased to 50%, and eligible for success fee based on closing cash balance.","Company continues evaluating strategic alternatives including possible wind-down to maximize asset value."],"urls":{"canonical":"https://secwatch.observer/filing/0000950170-24-089939","json":"https://secwatch.observer/filing/0000950170-24-089939.json","markdown":"https://secwatch.observer/filing/0000950170-24-089939.md","text":"https://secwatch.observer/filing/0000950170-24-089939.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024089939/0000950170-24-089939-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024089939/meip-20240731.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-31T13:22:47.809556+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"4a27ec45ab","claim":"David M. Urso departed as President and Chief Executive Officer at Lite Strategy, Inc..","evidence_excerpt":"David M. Urso, the Company’s President and Chief Executive Officer, and Richard G. Ghalie, M.D., its Chief Medical Officer, will be leaving the Company effective August 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024089939/0000950170-24-089939-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"leaving"},{"label":"Role","value":"President and Chief Executive Officer"}],"fact_type":"executive_change"},{"claim_id":"f9305a54c1","claim":"Richard G. Ghalie departed as Chief Medical Officer at Lite Strategy, Inc..","evidence_excerpt":"David M. Urso, the Company’s President and Chief Executive Officer, and Richard G. Ghalie, M.D., its Chief Medical Officer, will be leaving the Company effective August 1, 2024.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1262104/000095017024089939/0000950170-24-089939-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"leaving"},{"label":"Role","value":"Chief Medical Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}