secwatch.observer — SEC 8-K summary
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Issuer:     Pulmatrix, Inc. (PULM)
CIK:        0001574235
Form:       8-K
Filed at:   2024-07-19T23:59:59+00:00
Accession:  0001493152-24-028507
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

CEO Teofilo Raad departs Pulmatrix; Peter Ludlum appointed Interim CEO
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- Teofilo Raad separated as CEO and Board member effective July 19, 2024; severance includes $567,294 salary, $156,310 prorated bonus, $283,647 separation bonus.
- Peter Ludlum appointed Interim CEO effective July 20, 2024; also continues as Interim CFO; compensated at $700/hour via Danforth Advisors.
- Ludlum eligible for retention bonuses totaling $50,000 ($30,000 upfront, $20,000 after annual meeting).
- Raad's departure is not due to any disagreement regarding company operations, policies, or practices.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1574235/000149315224028507/0001493152-24-028507-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1574235/000149315224028507/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-028507

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