---
schema_version: "secwatch.filing_event.v1"
accession: "0001171843-21-006629"
form_type: "8-K"
ticker: "PMDI"
cik: "0000806517"
company_name: "PSYCHEMEDICS CORP"
filed_at: "2021-09-23T23:59:59+00:00"
generated_at: "2026-06-29T01:54:09.283669+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Psychemedics settles contractual dispute for $1.925M, continues strategic review

## Summary
- Agreed to pay customer $1.925M plus $150k from insurers to settle contractual dispute; payment due by Nov 30, 2021.
- Dispute stemmed from customer's employee terminations over 15 years ago; no admission of liability by either party.
- Board continues exploring strategic alternatives including sale or merger; JMP Securities and Mintz Levin retained as advisors.
- Company expects to fund settlement from existing cash on hand.

## SEC filing metadata
- accession: 0001171843-21-006629
- form_type: 8-K
- ticker: PMDI
- cik: 0000806517
- company_name: PSYCHEMEDICS CORP
- filed_at: 2021-09-23T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/806517/000117184321006629/0001171843-21-006629-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/806517/000117184321006629/f8k_092321.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001171843-21-006629
- JSON: https://secwatch.observer/filing/0001171843-21-006629.json
- Plain text: https://secwatch.observer/filing/0001171843-21-006629.txt

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