---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-26-040042"
form_type: "8-K"
ticker: "NCPL"
cik: "0001414767"
company_name: "Netcapital Inc."
filed_at: "2026-08-25T19:35:01+00:00"
generated_at: "2026-08-25T19:36:05.157012+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001493152-26-040042
- form_type: 8-K
- ticker: NCPL
- cik: 0001414767
- company_name: Netcapital Inc.
- filed_at: 2026-08-25T19:35:01+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1414767/000149315226040042/0001493152-26-040042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1414767/000149315226040042/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-26-040042
- JSON: https://secwatch.observer/filing/0001493152-26-040042.json
- Plain text: https://secwatch.observer/filing/0001493152-26-040042.txt

## Key facts
- Executive change
  Cecilia Lenk resigned as Director at Netcapital Inc..
  - Action: resigned
  - Role: Director
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1414767/000149315226040042/0001493152-26-040042-index.htm
- Executive change
  Cecilia Lenk resigned as Chief Executive Officer at Netcapital Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1414767/000149315226040042/0001493152-26-040042-index.htm

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