---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-23-000811"
form_type: "8-K"
ticker: "USBC"
cik: "0001074828"
company_name: "USBC, Inc."
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T09:06:51.665752+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Know Labs CEO Phillip Bosua resigns, receives $400K severance; Chairman Ronald Erickson named CEO

## Summary
- Phillip Bosua resigned as CEO and Board member on Jan 23, 2023; not due to any disagreement with the company.
- Bosua receives $400,000 severance, $10k/month consulting fee for one year, and lock-up on 3,005,000 shares.
- Chairman Ronald P. Erickson appointed as CEO, effective Jan 23, 2023, while remaining Chairman of the Board.
- Bosua's outstanding stock options cease vesting; vested options exercisable for one year post-separation.

## SEC filing metadata
- accession: 0001654954-23-000811
- form_type: 8-K
- ticker: USBC
- cik: 0001074828
- company_name: USBC, Inc.
- filed_at: 2023-01-25T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1074828/000165495423000811/0001654954-23-000811-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1074828/000165495423000811/know_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-23-000811
- JSON: https://secwatch.observer/filing/0001654954-23-000811.json
- Plain text: https://secwatch.observer/filing/0001654954-23-000811.txt

## Key facts
- Executive change
  Phillip A. Bosua resigned as Chief Executive Officer at USBC, Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On January 23, 2023, Phillip A. Bosua resigned from the Board of Directors and from his position as Chief Executive Officer of Know Labs, Inc.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1074828/000165495423000811/0001654954-23-000811-index.htm
- Executive change
  Ronald P. Erickson was appointed as Chief Executive Officer at USBC, Inc..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On January 23, 2023, the Board of Directors of the Company appointed Ronald P. Erickson, the current Chairman of the Board, to the position of Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1074828/000165495423000811/0001654954-23-000811-index.htm

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