---
schema_version: "secwatch.filing_event.v1"
accession: "0001553350-22-000932"
form_type: "8-K"
ticker: "BASA"
cik: "0001448705"
company_name: "BASANITE, INC."
filed_at: "2022-11-18T23:59:59+00:00"
generated_at: "2026-06-21T15:47:14.132057+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# CEO Simon Kay departs abruptly; Board names Michael V. Barbera as Acting Interim CEO

## Summary
- CEO Simon Kay terminated employment effective Nov 14, 2022, citing 'Good Reason' under his employment agreement and claiming unpaid wages.
- Board appointed director Michael V. Barbera as Acting Interim CEO; he previously served as Chairman since Jan 2020.
- Board ratified Sept 21, 2022 appointment of Ronald J. LoRicco, Sr. as Chairman.
- Company states it will defend against any claims from Kay regarding unpaid wages.

## SEC filing metadata
- accession: 0001553350-22-000932
- form_type: 8-K
- ticker: BASA
- cik: 0001448705
- company_name: BASANITE, INC.
- filed_at: 2022-11-18T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1448705/000155335022000932/0001553350-22-000932-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1448705/000155335022000932/basa_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001553350-22-000932
- JSON: https://secwatch.observer/filing/0001553350-22-000932.json
- Plain text: https://secwatch.observer/filing/0001553350-22-000932.txt

## Key facts
- Executive change
  Ronald J. LoRicco, Sr. was appointed as Chairman of the Board at BASANITE, INC..
  - Action: ratified appointment
  - Role: Chairman of the Board
  source text: The Board also ratified and approved its September 21, 2022 appointment of Ronald J. LoRicco, Sr. as Chairman of the Board.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448705/000155335022000932/0001553350-22-000932-index.htm
- Executive change
  Michael V. Barbera was appointed as Acting Interim Chief Executive Officer at BASANITE, INC..
  - Action: appointed
  - Role: Acting Interim Chief Executive Officer
  source text: On November 17, 2022, the Board appointed Michael V. Barbera, a director of the Corporation, as Acting Interim Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1448705/000155335022000932/0001553350-22-000932-index.htm

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