---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-016374"
form_type: "8-K"
ticker: "NEPH"
cik: "0001196298"
company_name: "NEPHROS INC"
filed_at: "2023-05-11T23:59:59+00:00"
generated_at: "2026-06-15T03:38:08.877021+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# Nephros appoints Robert Banks as President & CEO; Andy Astor remains interim CFO

## Summary
- Robert Banks named President & CEO effective after Q1 2023 10-Q filing; also appointed to Board.
- Andy Astor resigns as President & CEO but stays as interim CFO and advisor; departure not due to disagreement.
- Banks receives $350K base salary, potential increases to $400K/$450K at $15M/$20M revenue milestones.
- Banks granted 357,165 stock options at $1.44 per share, vesting over 4 years.
- Company highlights 40% YoY base revenue growth and early cash-flow breakeven in 2023.

## SEC filing metadata
- accession: 0001493152-23-016374
- form_type: 8-K
- ticker: NEPH
- cik: 0001196298
- company_name: NEPHROS INC
- filed_at: 2023-05-11T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1196298/000149315223016374/0001493152-23-016374-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1196298/000149315223016374/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-016374
- JSON: https://secwatch.observer/filing/0001493152-23-016374.json
- Plain text: https://secwatch.observer/filing/0001493152-23-016374.txt

## Key facts
- Executive change
  Robert Banks was appointed as Director at NEPHROS INC.
  - Action: appointed
  - Role: Director
  source text: Mr. Banks was also appointed to the Company’s Board of Directors as a Class III director as of the Effective Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1196298/000149315223016374/0001493152-23-016374-index.htm
- Executive change
  Robert Banks was appointed as President and Chief Executive Officer at NEPHROS INC.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: On May 5, 2023, Nephros, Inc. (the “Company”) entered into an employment agreement with Robert Banks (the “Employment Agreement”) pursuant to which the Company appointed Mr. Banks as its President and Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1196298/000149315223016374/0001493152-23-016374-index.htm
- Executive change
  Andrew Astor resigned as President and Chief Executive Officer at NEPHROS INC.
  - Action: resigned
  - Role: President and Chief Executive Officer
  source text: On May 5, 2023, Andrew Astor resigned as the Company’s President and Chief Executive Officer and from the Company’s Board of Directors, effective as of the Effective Date.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1196298/000149315223016374/0001493152-23-016374-index.htm

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