secwatch.observer — SEC 8-K summary
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Issuer:     PSYCHEMEDICS CORP (PMDI)
CIK:        0000806517
Form:       8-K
Filed at:   2023-07-14T23:59:59+00:00
Accession:  0001171843-23-004498
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Psychemedics CEO Raymond Kubacki to retire; Brian Hullinger named successor as President/CEO
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- Raymond Kubacki and director Fred Weinert retire effective Aug 17, 2023; controller William Norris resigns effective July 21.
- Brian Hullinger appointed President/CEO effective Aug 17; base salary $375,000, target bonus $190,000 (2023 guaranteed).
- Hullinger receives inducement option for 300,000 shares in three tranches: time-based and VWAP-linked targets.
- Michael Weisenhoff appointed principal financial/accounting manager (salary $135,000) effective July 20.
- Kubacki enters retirement agreement with consulting at $5,000/week; his 44,000 stock units fully vest on consulting end.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/806517/000117184323004498/0001171843-23-004498-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/806517/000117184323004498/f8k_071323.htm
  HTML page:      https://secwatch.observer/filing/0001171843-23-004498

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