BrainStorm promotes Dr. Lindborg to Co-CEO; Dr. Kern retires as CMO with separation package

BRAINSTORM CELL THERAPEUTICS INC.

Dr. Stacy Lindborg appointed Co-CEO, base salary $500K, annual bonus 40% of salary, 250K RSU equity grant.
Dr. Ralph Kern retires as President and CMO effective Jan 20, 2023; receives $250K severance, 150K shares, $125K prorated bonus.
Unvested equity that would vest within six months accelerates for Dr. Kern upon separation.
Dr. Kern to join Scientific Advisory Board at $450/hour, up to 10 hours/month, for two-year term.

item 1.01 item 5.02 item 9.01

Executive movements

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Departed

Dr. Ralph Kern

President and Chief Medical Officer

BCLI · BRAINSTORM CELL THERAPEUTICS INC.

Effective: 2023-01-20
Filed: January 4, 2023, 6:59 PM ET

Effective as of January 3, 2023, the Kern Separation Amendment terminates the employment agreement previously entered into between the Company and Dr. Kern on February 28, 2017.

Appointed

Dr. Stacy Lindborg

Co-Chief Executive Officer

BCLI · BRAINSTORM CELL THERAPEUTICS INC.

Filed: January 4, 2023, 6:59 PM ET

Dr. Lindborg will be appointed to the position of Co-Chief Executive Officer of the Company.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.8

Dr. Ralph Kern departed as President and Chief Medical Officer at BRAINSTORM CELL THERAPEUTICS INC..

Action: separated
Role: President and Chief Medical Officer

Exact text from the filing

Effective as of January 3, 2023, the Kern Separation Amendment terminates the employment agreement previously entered into between the Company and Dr. Kern on February 28, 2017.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Dr. Stacy Lindborg was appointed as Co-Chief Executive Officer at BRAINSTORM CELL THERAPEUTICS INC..

Action: appointed
Role: Co-Chief Executive Officer

Exact text from the filing

Dr. Lindborg will be appointed to the position of Co-Chief Executive Officer of the Company.

View on SEC.gov

BRAINSTORM CELL THERAPEUTICS INC. filing history →

Source: SEC EDGAR

accession 0001104659-23-000640

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