---
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"
generated_at: "2026-05-31T13:22:47.809556+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# CEO and CMO depart; MEI Pharma evaluates wind-down; CFO becomes Acting CEO

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: leadership
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 5.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-24-089939
- JSON: https://secwatch.observer/filing/0000950170-24-089939.json
- Plain text: https://secwatch.observer/filing/0000950170-24-089939.txt

## Key facts
- Executive change
  David M. Urso departed as President and Chief Executive Officer at Lite Strategy, Inc..
  - Action: leaving
  - Role: President and Chief Executive Officer
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1262104/000095017024089939/0000950170-24-089939-index.htm
- Executive change
  Richard G. Ghalie departed as Chief Medical Officer at Lite Strategy, Inc..
  - Action: leaving
  - Role: Chief Medical Officer
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1262104/000095017024089939/0000950170-24-089939-index.htm

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