---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-027122"
form_type: "8-K"
ticker: "PCSA"
cik: "0001533743"
company_name: "Processa Pharmaceuticals, Inc."
filed_at: "2023-08-08T23:59:59+00:00"
generated_at: "2026-06-12T01:46:10.734271+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Processa Pharmaceuticals appoints George Ng as CEO; COO Floyd to resign Aug 31

## Summary
- George Ng appointed CEO and director effective Aug 8, 2023; previously president/COO of Calidi Biotherapeutics.
- David Young steps down as CEO but remains President of R&D and board member; focuses on NGC drugs.
- R. Michael Floyd resigns as COO by mutual agreement, effective August 31, 2023.
- Ng receives $400k base salary, up to $100k bonus, and 800k RSUs (400k time-vest, 400k performance-based).
- Ng previously led Scilex through $140M financing, FDA approval, and sale; holds JD from Notre Dame.

## SEC filing metadata
- accession: 0001493152-23-027122
- form_type: 8-K
- ticker: PCSA
- cik: 0001533743
- company_name: Processa Pharmaceuticals, Inc.
- filed_at: 2023-08-08T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1533743/000149315223027122/0001493152-23-027122-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1533743/000149315223027122/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-027122
- JSON: https://secwatch.observer/filing/0001493152-23-027122.json
- Plain text: https://secwatch.observer/filing/0001493152-23-027122.txt

## Key facts
- Executive change
  George Ng was appointed as director at Processa Pharmaceuticals, Inc..
  - Action: appointed
  - Role: director
  source text: announced the appointment of Mr. George Ng as its Chief Executive Officer and a director.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533743/000149315223027122/0001493152-23-027122-index.htm
- Executive change
  David Young changed role as President of Research and Development at Processa Pharmaceuticals, Inc..
  - Role: President of Research and Development
  source text: Dr. David Young will continue with the Company as a member of the Board of Directors and as the Company’s President of Research and Development.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533743/000149315223027122/0001493152-23-027122-index.htm
- Executive change
  George Ng was appointed as Chief Executive Officer at Processa Pharmaceuticals, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: announced the appointment of Mr. George Ng as its Chief Executive Officer and a director.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533743/000149315223027122/0001493152-23-027122-index.htm
- Executive change
  R. Michael Floyd resigned as Chief Operating Officer at Processa Pharmaceuticals, Inc..
  - Action: resigned
  - Role: Chief Operating Officer
  source text: Mr. R. Michael Floyd resigned as Chief Operating Officer of the Company, effective August 31, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1533743/000149315223027122/0001493152-23-027122-index.htm

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