Rafael Holdings CMO resigns, appoints Joshua Fine COO; severance agreements disclosed

Rafael Holdings, Inc.

John Goldberg resigned as CMO effective July 31, 2025; receives $218,195 severance plus 99,429 shares vesting Nov 4, 2025.
Joshua Fine appointed COO; base salary increased to $428,000, options with $25,000 Black-Scholes value.
N. Scott Fine receives $852,168 severance over 36 installments; continues vesting on unvested equity as Vice Chairman.
Rafael Holdings substituted for Cyclo Therapeutics as employer under Fine's amended employment agreement.

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