8-K filed September 5, 2024, 7:59 PM ET ticker XWEL CIK 0001410428

leadership confidence high sentiment positive materiality 0.75

XWELL appoints Ezra Ernst as CEO; Scott Milford resigns, to serve as consultant through year-end

XWELL, Inc.

Scott Milford stepped down as President and CEO effective Sept 4, 2024; will serve as consultant at $31,250/month through Dec 31, 2024, plus $425k severance.
Ezra Ernst appointed President and CEO effective Sept 4, 2024; to join Board on Sept 21, 2024.
Ernst receives $425k base salary, annual bonus up to 100% of base (50/50 cash/RSUs), 30k stock options at $1.86/share, and 30k restricted shares vesting over 3 years.
Ernst previously led XpresCheck and HyperPointe; developed CDC traveler-based genomic surveillance program.
Press release cites strategic leadership change to drive growth, innovation, and return to profitability.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Scott R. Milford

President and Chief Executive Officer

XWEL · XWELL, Inc.

Effective: 2024-09-04
Successor: Ezra T. Ernst
Filed: September 5, 2024, 7:59 PM ET

As of the Effective Date, Scott R. Milford’s employment as the Company’s President and Chief Executive Officer ceased

Departed

Scott R. Milford

director

XWEL · XWELL, Inc.

Effective: 2024-09-21
Filed: September 5, 2024, 7:59 PM ET

Mr. Milford has also resigned from the Board, as well as the Board of Directors of XpresTest, Inc., Treat, Inc. and GCG Connect LLC, effective as of September 21, 2024.

Appointed

Ezra T. Ernst

director

XWEL · XWELL, Inc.

Effective: 2024-09-21
Filed: September 5, 2024, 7:59 PM ET

Effective as of September 21, 2024, Mr. Ernst shall also serve as a director of the Board

Appointed

Ezra T. Ernst

President and Chief Executive Officer

XWEL · XWELL, Inc.

Effective: 2024-09-04
Filed: September 5, 2024, 7:59 PM ET

As of the Effective Date, Mr. Ernst shall serve as the Company’s President and Chief Executive Officer.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott R. Milford resigned as President and Chief Executive Officer at XWELL, Inc..

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

As of the Effective Date, Scott R. Milford’s employment as the Company’s President and Chief Executive Officer ceased

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Scott R. Milford resigned as director at XWELL, Inc..

Action: resigned
Role: director

Exact text from the filing

Mr. Milford has also resigned from the Board, as well as the Board of Directors of XpresTest, Inc., Treat, Inc. and GCG Connect LLC, effective as of September 21, 2024.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ezra T. Ernst was appointed as director at XWELL, Inc..

Action: appointed
Role: director

Exact text from the filing

Effective as of September 21, 2024, Mr. Ernst shall also serve as a director of the Board

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Ezra T. Ernst was appointed as President and Chief Executive Officer at XWELL, Inc..

Action: appointed
Role: President and Chief Executive Officer

Exact text from the filing

As of the Effective Date, Mr. Ernst shall serve as the Company’s President and Chief Executive Officer.

View on SEC.gov

XWELL, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-097147

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