SeaStar Medical Holding Corporation filed SEC Form 8-K: Leadership Update

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

On September 23, 2025, the Board of Directors (the “Board”) of SeaStar Medical Holding Corporation (the “Company”) approved an increase in the annual base salaries of Eric Schlorff, the Company’s Chief Executive Officer and Kevin Chung, the Company’s Chief Medical Officer, as well as certain other members of management effective October 1, 2025. The salaries of these officers had previously been set at the 2024 level and then reduced by 20% due to a Board decision in June 2025 in connection with the Company’s efforts to reduce monthly operating expenses. In addition, the Board approved restoring each directors' cash retainer fees and any additional cash retainer fees payable to each Board member back to their original levels effective October 1, 2025. These retainers were also reduced by 20% due to a Board decision in June 2025 in connection with the Company’s efforts to reduce monthly operating expenses.  As a result of these and other actions, the Company expects monthly operating expenses to increase by approximately $50,000.

 

 

 

 

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.