---
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"
generated_at: "2026-05-24T08:37:24.973366+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Basanite appoints Michael Dennis Nelson as CEO with deferred salary and 7M option grant

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 1.01, 5.02, 3.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001079973-25-000434
- JSON: https://secwatch.observer/filing/0001079973-25-000434.json
- Plain text: https://secwatch.observer/filing/0001079973-25-000434.txt

## Key facts
- Executive change
  Michael Dennis Nelson was appointed as Chief Executive Officer at BASANITE, INC..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On March 18, 2025, Michael Dennis Nelson agreed to become the Chief Executive Officer of Basanite, Inc. (the “Company”) through April 1, 2028.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448705/000107997325000434/0001079973-25-000434-index.htm

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