---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-25-027311"
form_type: "8-K"
ticker: null
cik: "0001492674"
company_name: "T2 Biosystems, Inc."
filed_at: "2025-02-14T23:59:59+00:00"
generated_at: "2026-05-26T19:59:12.742844+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 1.0
calibrated_materiality_score: 1.0
confidence: "high"
source: SEC EDGAR
---

# T2 Biosystems cuts substantially all staff after Nasdaq delisting; top execs as consultants

## Summary
- Board approved RIF of substantially all employees; expects $1.0M severance costs in Q1 2025.
- CEO Sperzel, CFO Sprague, GC Gibbs terminated without cause, re-hired as consultants at $276.44-$187.50/hr for 20 hrs/week.
- Nasdaq notified company Feb 10 it will file Form 25 to delist; trading moved to OTC on Feb 12.
- Canceled March 3 special meeting for reverse stock split after delisting determination.

## SEC filing metadata
- accession: 0001193125-25-027311
- form_type: 8-K
- cik: 0001492674
- company_name: T2 Biosystems, Inc.
- filed_at: 2025-02-14T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 1.0
- calibrated_materiality_score: 1.0
- confidence: high
- sec_items: 2.05, 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/0001193125-25-027311-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/d926272d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-25-027311
- JSON: https://secwatch.observer/filing/0001193125-25-027311.json
- Plain text: https://secwatch.observer/filing/0001193125-25-027311.txt

## Key facts
- Executive change
  John Sperzel was appointed as Chief Executive Officer at T2 Biosystems, Inc..
  - Action: re-appointed
  - Role: Chief Executive Officer
  source text: Following the end of their employment, Messrs. Sperzel, Sprague and Gibbs were re-appointed by the Board to serve as the Company’s Chief Executive Officer, Chief Financial Officer and General Counsel, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/0001193125-25-027311-index.htm
- Executive change
  Michael Gibbs was appointed as General Counsel at T2 Biosystems, Inc..
  - Action: re-appointed
  - Role: General Counsel
  source text: Following the end of their employment, Messrs. Sperzel, Sprague and Gibbs were re-appointed by the Board to serve as the Company’s Chief Executive Officer, Chief Financial Officer and General Counsel, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/0001193125-25-027311-index.htm
- Executive change
  John Sperzel departed as President and Chief Executive Officer at T2 Biosystems, Inc..
  - Action: terminated without cause
  - Role: President and Chief Executive Officer
  source text: John Sperzel, President and Chief Executive Officer, John Sprague, Chief Financial Officer, and Michael Gibbs, Senior Vice President and General Counsel, were terminated without cause from their respective positions, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/0001193125-25-027311-index.htm
- Executive change
  Michael Gibbs departed as Senior Vice President and General Counsel at T2 Biosystems, Inc..
  - Action: terminated without cause
  - Role: Senior Vice President and General Counsel
  source text: John Sperzel, President and Chief Executive Officer, John Sprague, Chief Financial Officer, and Michael Gibbs, Senior Vice President and General Counsel, were terminated without cause from their respective positions, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/0001193125-25-027311-index.htm
- Executive change
  John Sprague departed as Chief Financial Officer at T2 Biosystems, Inc..
  - Action: terminated without cause
  - Role: Chief Financial Officer
  source text: John Sperzel, President and Chief Executive Officer, John Sprague, Chief Financial Officer, and Michael Gibbs, Senior Vice President and General Counsel, were terminated without cause from their respective positions, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/0001193125-25-027311-index.htm
- Executive change
  John Sprague was appointed as Chief Financial Officer at T2 Biosystems, Inc..
  - Action: re-appointed
  - Role: Chief Financial Officer
  source text: Following the end of their employment, Messrs. Sperzel, Sprague and Gibbs were re-appointed by the Board to serve as the Company’s Chief Executive Officer, Chief Financial Officer and General Counsel, respectively.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/0001193125-25-027311-index.htm
- Restructurings & Charges
  T2 Biosystems, Inc. announced a restructuring with charges of approximately $1.0 million (substantially all of its employees).
  - Type: restructuring
  - Charge: approximately $1.0 million
  - Headcount: substantially all of its employees
  source text: On February 13, 2025, the Board of Directors (the “Board”) of T2 Biosystems, Inc. (the “Company”) approved a reduction-in-force (the “Reduction-in-Force”) of substantially all of its employees, effective immediately (the “Effective Time”). The Company expects to incur one-time charges and cash expenditures associated with the Reduction-in-Force of approximately $1.0 million, primarily related to employee wages and severance payments, benefits, earned vacation time and related termination costs.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1492674/000119312525027311/0001193125-25-027311-index.htm

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