---
schema_version: "secwatch.filing_event.v1"
accession: "0001553350-22-000056"
form_type: "8-K"
ticker: "BASA"
cik: "0001448705"
company_name: "BASANITE, INC."
filed_at: "2022-01-26T23:59:59+00:00"
generated_at: "2026-06-27T15:24:55.573122+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Basanite enters transition agreement with interim CEO Kay; search for permanent CEO begins

## Summary
- Simon Kay will step down as Acting Interim CFO; continues as Acting Interim CEO and President during transition period (ends by June 30, 2022).
- Kay receives $350,000 annual fee during transition; at end receives warrant to purchase 1,000,000 shares at $0.33 per share.
- Company has commenced search for a permanent principal executive officer.
- Transition period ends 14 days after hiring new PEO, but no earlier than Feb 28, 2022 and no later than June 30, 2022.
- Kay subject to non-solicitation, non-competition, and non-disparagement clauses for one year after transition.

## SEC filing metadata
- accession: 0001553350-22-000056
- form_type: 8-K
- ticker: BASA
- cik: 0001448705
- company_name: BASANITE, INC.
- filed_at: 2022-01-26T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1448705/000155335022000056/0001553350-22-000056-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1448705/000155335022000056/basa_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001553350-22-000056
- JSON: https://secwatch.observer/filing/0001553350-22-000056.json
- Plain text: https://secwatch.observer/filing/0001553350-22-000056.txt

## Key facts
- Executive change
  Simon R. Kay changed role as Chief Financial Officer at BASANITE, INC..
  - Action: stepped down as
  - Role: Chief Financial Officer
  source text: (iii) not be required to provide services as Acting Interim Chief Financial Officer of the Company (as such duties may be assumed by other Company personnel);
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448705/000155335022000056/0001553350-22-000056-index.htm

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