Netcapital's Cecilia Lenk resigns as board member and subsidiary CEO after $50K SEC settlement

Netcapital Inc.

Lenk resigned Aug 19, 2026 from Netcapital board and as CEO of Netcapital Advisors, effective immediately.
Resignation follows court approval of SEC settlement: permanent injunctions, conduct-based injunction, $50,000 civil penalty.
Lenk did not admit SEC allegations; settlement covers SEC v. John Fanning, et al., No. 1:26-cv-13665.
SEC action remains pending against Netcapital and other defendants; departure not due to disagreement with company.
Exhibit 17.1 provides corrected Lenk resignation letter dated Aug 19, 2026.

item 5.02 item 8.01 item 9.01

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Departed

Cecilia Lenk

Director

NCPL · Netcapital Inc.

Effective: 2026-08-19
Filed: August 25, 2026, 3:35 PM ET

On August 19, 2026, following the United States District Court for the District of Massachusetts’ approval of Cecilia Lenk’s settlement with the Securities and Exchange Commission in the previously disclosed SEC civil action, Ms. Lenk resigned from the Board of Directors of Netcapital Inc. (the “Company”) and from her position as Chief Executive Officer of Netcapital Advisors Inc., a wholly owned subsidiary of the Company, effective immediately.

Departed

Cecilia Lenk

Chief Executive Officer

NCPL · Netcapital Inc.

Effective: 2026-08-19
Filed: August 25, 2026, 3:35 PM ET

On August 19, 2026, following the United States District Court for the District of Massachusetts’ approval of Cecilia Lenk’s settlement with the Securities and Exchange Commission in the previously disclosed SEC civil action, Ms. Lenk resigned from the Board of Directors of Netcapital Inc. (the “Company”) and from her position as Chief Executive Officer of Netcapital Advisors Inc., a wholly owned subsidiary of the Company, effective immediately.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Cecilia Lenk resigned as Director at Netcapital Inc..

Action: resigned
Role: Director

Exact text from the filing

On August 19, 2026, following the United States District Court for the District of Massachusetts’ approval of Cecilia Lenk’s settlement with the Securities and Exchange Commission in the previously disclosed SEC civil action, Ms. Lenk resigned from the Board of Directors of Netcapital Inc. (the “Company”) and from her position as Chief Executive Officer of Netcapital Advisors Inc., a wholly owned subsidiary of the Company, effective immediately.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Cecilia Lenk resigned as Chief Executive Officer at Netcapital Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On August 19, 2026, following the United States District Court for the District of Massachusetts’ approval of Cecilia Lenk’s settlement with the Securities and Exchange Commission in the previously disclosed SEC civil action, Ms. Lenk resigned from the Board of Directors of Netcapital Inc. (the “Company”) and from her position as Chief Executive Officer of Netcapital Advisors Inc., a wholly owned subsidiary of the Company, effective immediately.

View on SEC.gov

Netcapital Inc. filing history →

Source: SEC EDGAR

accession 0001493152-26-040042

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