---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-013348"
form_type: "8-K"
ticker: "AUID"
cik: "0001534154"
company_name: "authID Inc."
filed_at: "2023-02-21T23:59:59+00:00"
generated_at: "2026-06-19T06:53:11.900890+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# authID cuts 15 of 21 US employees, CTO departs, seeks $3.6M facility modification to reduce cash burn to $300k/month

## Summary
- Up to 15 of 21 US employees to be terminated; 11 already notified; estimated costs $0.5M-$1.1M.
- CTO Cecil N. Smith III ceased employment under the Labor Reduction Plan; settlement negotiations ongoing.
- Company targets monthly net cash used in operations of $300,000 or less after cuts.
- Negotiating with lender Stephen J. Garchik to reduce facility from $10M to $3.6M and secure initial drawdown.
- No assurance of achieving cost reductions or successful debt modification; forward-looking statements.

## SEC filing metadata
- accession: 0001213900-23-013348
- form_type: 8-K
- ticker: AUID
- cik: 0001534154
- company_name: authID Inc.
- filed_at: 2023-02-21T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.05, 5.02, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1534154/000121390023013348/0001213900-23-013348-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1534154/000121390023013348/ea174049-8k_authid.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-013348
- JSON: https://secwatch.observer/filing/0001213900-23-013348.json
- Plain text: https://secwatch.observer/filing/0001213900-23-013348.txt

## Key facts
- Executive change
  Cecil N. Smith III departed as President and Chief Technology Officer at authID Inc..
  - Action: ceased employment
  - Role: President and Chief Technology Officer
  source text: On February 15, 2023 Cecil N. Smith III ceased to be an employee, and the President and Chief Technology Officer of the Company pursuant to the Labor Reduction Plan.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023013348/0001213900-23-013348-index.htm
- Restructurings & Charges
  authID Inc. announced a restructuring with charges of Costs associated with exit or disposal activities; one-time termination benefits affecting United States based operations (up to 15 of the Company's 21 United States based employees be terminated; 11 employees have already been given notice).
  - Type: restructuring
  - Charge: Costs associated with exit or disposal activities; one-time termination benefits
  - Affected area: United States based operations
  - Headcount: up to 15 of the Company's 21 United States based employees be terminated; 11 employees have already been given notice
  source text: On February 14, 2023, the Board of Directors of authID Inc. (the “Company”) resolved to implement a revised budget for 2023 in order to reduce expenses and cash requirements and as part of such revised budget decided to re-balance staffing levels to better align with the evolving needs of the Company (the “Labor Reduction Plan”). Under the Labor Reduction Plan the Company intends that up to 15 of the Company’s 21 United States based employees be terminated 11 employees have already been given notice of their termination and the remainder may be terminated over the next several months. The Company has also given termination notice to certain vendors and contractors that provide services to the Company. The Company estimates that it will be incurring costs (in consideration of releases) in the range of $0.5 million to $1.1 million in connection with the Labor Reduction Plan, which are primarily one-time termination benefits and which will result in cash expenditures by the Company in tha
  evidence_url: https://www.sec.gov/Archives/edgar/data/1534154/000121390023013348/0001213900-23-013348-index.htm

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