secwatch.observer — SEC 8-K summary
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Issuer:     NEPHROS INC (NEPH)
CIK:        0001196298
Form:       8-K
Filed at:   2023-05-11T23:59:59+00:00
Accession:  0001493152-23-016374
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1196298/000149315223016374/0001493152-23-016374-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1196298/000149315223016374/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-016374

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer