---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-007853"
form_type: "8-K"
ticker: "XWEL"
cik: "0001410428"
company_name: "XWELL, Inc."
filed_at: "2022-01-26T23:59:59+00:00"
generated_at: "2026-06-27T15:24:08.694271+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# XpresSpa CEO Satzman receives $475K severance, equity vesting; Scott Milford named director

## Summary
- Severance: $475,000 base salary over 12 months; COBRA subsidy through Jan 2023.
- Incentive compensation of $168,341 for 2021; immediate vesting of all outstanding stock options and RSUs.
- Scott R. Milford appointed to Board effective Jan 21, 2022, filling vacancy from Satzman's resignation.

## SEC filing metadata
- accession: 0001104659-22-007853
- form_type: 8-K
- ticker: XWEL
- cik: 0001410428
- company_name: XWELL, Inc.
- filed_at: 2022-01-26T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1410428/000110465922007853/0001104659-22-007853-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1410428/000110465922007853/tm224576-1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-007853
- JSON: https://secwatch.observer/filing/0001104659-22-007853.json
- Plain text: https://secwatch.observer/filing/0001104659-22-007853.txt

## Key facts
- Executive change
  Douglas Satzman resigned as President and Chief Executive Officer at XWELL, Inc..
  - Action: resigned
  - Role: President and Chief Executive Officer
  source text: Douglas Satzman resigned as the President and Chief Executive Officer of the Company for personal reasons effective as of January 19, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410428/000110465922007853/0001104659-22-007853-index.htm
- Executive change
  Scott R. Milford was appointed as member of the Board at XWELL, Inc..
  - Action: appointed
  - Role: member of the Board
  source text: The previously reported appointment of Scott R. Milford as a member of the Board with an initial term expiring at the Company’s 2022 Annual Meeting of Stockholders became effective as of January 21, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410428/000110465922007853/0001104659-22-007853-index.htm
- Executive change
  Douglas Satzman resigned as director at XWELL, Inc..
  - Action: resigned
  - Role: director
  source text: the Separation and Release effectuates Mr. Satzman’s resignation a director of the Company and all of its subsidiaries.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1410428/000110465922007853/0001104659-22-007853-index.htm

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