{"schema_version":"secwatch.filing_event.v1","accession":"0001698530-22-000103","form_type":"8-K","ticker":"XCUR","cik":"0001698530","company_name":"EXICURE, INC.","filed_at":"2022-12-30T23:59:59+00:00","discovered_at":"2026-05-14T18:03:51.746812+00:00","generated_at":"2026-06-20T21:30:42.471518+00:00","sec_items":["5.02"],"event_type":"leadership","sentiment":"negative","materiality_score":0.5,"calibrated_materiality_score":0.5,"confidence":"high","headline":"Exicure board shrinks from 5 to 4; two directors resign; new director appointed; audit committee non-compliant","bullets":["James Sulat and Bali Muralidhar resigned from the Board effective December 30, 2022.","Board size decreased from five to four directors.","Jiyoung Hwang appointed to Board as lead purchaser designee from CBI USA.","Audit Committee now has only two independent directors, breaching Nasdaq Listing Rule 5605(c)(2)(A).","Company expects to regain compliance within one-year cure period or next annual meeting."],"urls":{"canonical":"https://secwatch.observer/filing/0001698530-22-000103","json":"https://secwatch.observer/filing/0001698530-22-000103.json","markdown":"https://secwatch.observer/filing/0001698530-22-000103.md","text":"https://secwatch.observer/filing/0001698530-22-000103.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1698530/000169853022000103/0001698530-22-000103-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1698530/000169853022000103/xcur-20221230.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-20T21:30:42.471518+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"29a0a07e5d","claim":"Jiyoung Hwang was appointed as Lead Purchaser Board Designee at EXICURE, INC..","evidence_excerpt":"Pursuant to the May 2022 Securities Purchase Agreement, the Board appointed Jiyoung Hwang to the Board as the Lead Purchaser Board Designee (as defined in the May 2022 Securities Purchase Agreement), effective December 30, 2022.","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1698530/000169853022000103/0001698530-22-000103-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"appointed"},{"label":"Role","value":"Lead Purchaser Board Designee"}],"fact_type":"executive_change"},{"claim_id":"c769c592ee","claim":"Bali Muralidhar resigned as Director at EXICURE, INC..","evidence_excerpt":"Effective December 30, 2022 (the “Resignation Date”), James Sulat and Bali Muralidhar, M.D., Ph.D. each resigned from the Board of Directors (the “Board”) of Exicure, Inc. (the “Company”).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1698530/000169853022000103/0001698530-22-000103-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"},{"claim_id":"f0cc1b705a","claim":"James Sulat resigned as Director at EXICURE, INC..","evidence_excerpt":"Effective December 30, 2022 (the “Resignation Date”), James Sulat and Bali Muralidhar, M.D., Ph.D. each resigned from the Board of Directors (the “Board”) of Exicure, Inc. (the “Company”).","evidence_source":"SEC 8-K Item 5.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1698530/000169853022000103/0001698530-22-000103-index.htm","confidence":0.95,"family_label":"Executive change","details":[{"label":"Action","value":"resigned"},{"label":"Role","value":"Director"}],"fact_type":"executive_change"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}