---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-072962"
form_type: "8-K"
ticker: "ELUT"
cik: "0001708527"
company_name: "ELUTIA INC."
filed_at: "2022-06-21T23:59:59+00:00"
generated_at: "2026-06-25T00:28:23.918174+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Aziyo appoints Dr. C. Randal Mills Interim CEO, Ronald Lloyd steps down; reaffirms FY22 guidance $47-50M

## Summary
- CEO Ronald Lloyd steps down effective June 21; co-founder C. Randal Mills appointed Interim President and CEO.
- Mills receives $600k base salary, 60% target bonus, option to purchase 456,278 shares, and 224,734 RSUs with time/performance vesting.
- Lloyd remains employee through Sep 30 for transition; eligible for 12-month cash severance plus up to $1M performance bonus.
- Mills' move from Audit Committee leaves it with two independent members; Nasdaq cure period of 180 days.
- Company reaffirms FY2022 net sales guidance of $47–$50 million.

## SEC filing metadata
- accession: 0001104659-22-072962
- form_type: 8-K
- ticker: ELUT
- cik: 0001708527
- company_name: ELUTIA INC.
- filed_at: 2022-06-21T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 3.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1708527/000110465922072962/0001104659-22-072962-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1708527/000110465922072962/tm2218923d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-072962
- JSON: https://secwatch.observer/filing/0001104659-22-072962.json
- Plain text: https://secwatch.observer/filing/0001104659-22-072962.txt

## Key facts
- Executive change
  Ronald Lloyd departed as President and Chief Executive Officer at ELUTIA INC..
  - Action: stepped down
  - Role: President and Chief Executive Officer
  source text: Ronald Lloyd, who will be stepping down as the Company’s President and Chief Executive Officer and as a member of the Board, in each case, effective June 21, 2022
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708527/000110465922072962/0001104659-22-072962-index.htm
- Executive change
  C. Randal Mills was appointed as Interim President and Chief Executive Officer at ELUTIA INC..
  - Action: appointed
  - Role: Interim President and Chief Executive Officer
  source text: On June 20, 2022, C. Randal Mills, Ph.D., a member of the Board of Directors (the “Board”) of Aziyo Biologics, Inc. (the “Company”), was appointed as the Company’s Interim President and Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1708527/000110465922072962/0001104659-22-072962-index.htm

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