---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-046588"
form_type: "8-K"
ticker: "NXGL"
cik: "0001468929"
company_name: "NEXGEL, INC."
filed_at: "2023-12-29T23:59:59+00:00"
generated_at: "2026-06-07T05:49:45.041441+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# NexGel enters 2024 employment agreement with CEO Adam Levy, appoints Scott Henry to compensation committee

## Summary
- NexGel entered a one-year employment agreement with CEO Adam Levy, effective Jan 1, 2024, with $325,000 base salary and $70,000 equity grant.
- Performance bonuses include $100,000 cash and 35,000 shares upon achieving positive EBITDA for two consecutive quarters through Q1 2025.
- Stock price bonuses: $25,000 cash and 25,000 shares if stock averages $4.50; $75,000 cash and 50,000 shares if $7.00 over three months.
- Board appointed Scott R. Henry as Chair of Compensation Committee effective Jan 1, 2024, replacing David Stefansky.
- Equity grants issued under Section 4(a)(2) exemption; non-competition and non-solicitation clauses apply to Levy.

## SEC filing metadata
- accession: 0001493152-23-046588
- form_type: 8-K
- ticker: NXGL
- cik: 0001468929
- company_name: NEXGEL, INC.
- filed_at: 2023-12-29T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 3.02, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1468929/000149315223046588/0001493152-23-046588-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1468929/000149315223046588/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-046588
- JSON: https://secwatch.observer/filing/0001493152-23-046588.json
- Plain text: https://secwatch.observer/filing/0001493152-23-046588.txt

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