{"schema_version":"secwatch.filing_event.v1","accession":"0001079973-25-000434","form_type":"8-K","ticker":"BASA","cik":"0001448705","company_name":"BASANITE, INC.","filed_at":"2025-03-21T23:59:59+00:00","discovered_at":"2026-05-14T18:03:03.652877+00:00","generated_at":"2026-05-24T08:37:24.973366+00:00","sec_items":["1.01","5.02","3.02","9.01"],"event_type":"leadership","sentiment":"neutral","materiality_score":0.55,"calibrated_materiality_score":0.55,"confidence":"high","headline":"Basanite appoints Michael Dennis Nelson as CEO with deferred salary and 7M option grant","bullets":["Mr. Nelson, 47, named CEO effective March 18, 2025; contract runs through April 1, 2028.","Monthly salary of $17,250 deferred until $500K raised or 90 days, then partially paid; full payment after $1.5M raised.","Options to purchase 7M common shares at $0.0390 (OTCQB closing price), 5-year term, with cashless exercise and piggyback registration.","Vesting: 1.5M immediate, 1.5M at $500K financing, 2M at operational breakeven, 2M upon Nasdaq uplisting.","Mr. Nelson waives health insurance; entitled to 6 weeks PTO; employment at-will with 3-day notice termination."],"urls":{"canonical":"https://secwatch.observer/filing/0001079973-25-000434","json":"https://secwatch.observer/filing/0001079973-25-000434.json","markdown":"https://secwatch.observer/filing/0001079973-25-000434.md","text":"https://secwatch.observer/filing/0001079973-25-000434.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1448705/000107997325000434/0001079973-25-000434-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1448705/000107997325000434/basa_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-24T08:37:24.973366+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":"0b3ec5c87c","claim":"Michael Dennis Nelson was appointed as Chief Executive Officer at BASANITE, INC..","evidence_excerpt":"On March 18, 2025, Michael Dennis Nelson agreed to become the Chief Executive Officer of Basanite, Inc. (the “Company”) through April 1, 2028.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1448705/000107997325000434/0001079973-25-000434-index.htm","confidence":1.0,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Chief Executive Officer"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}