x

Posted 27 November, 2023

AETHLON MEDICAL INC appointed James B. Frakes as new CEO

Nasdaq:AEMD appointed new Chief Executive Officer James B. Frakes in a 8-K filed on 27 November, 2023.


  As previously disclosed on our current report on Form 8-K, filed November 13, 2023, James B. Frakes, was appointed as Interim Chief Executive Officer of the Company, replacing Dr. Fisher, effective November 7, 2023.  

Don't how to trade CEO change? Read Reasons for CEO Turnover and Effect on Stock Performance.
Overview of AETHLON MEDICAL INC
Health Care/Life Sciences • Medical Equipment/Supplies
Aethlon Medical, Inc. is a medical technology company which focuses on developing products to diagnose and treat life and organ threatening diseases. It develops Aethlon Hemopurifier, which is a clinical-stage immunotherapeutic device designed to combat cancer and life-threatening viral infections. The firm operates through the following segments: Aethlon and ESI. The Aethlon segment is involved in therapeutic business activities. The ESI segment consists of diagnostic business activities. The company was founded by James A. Joyce in 1991 and is headquartered in San Diego, CA.
Market Cap
$4.32M
View Company Details
AETHLON MEDICAL INC by TradingView
Relevant filing section
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


(b)


Resignation of Charles J. Fisher, Jr., M.D. as Director


Charles J. Fisher, Jr., M.D. has resigned from the board of directors of Aethlon Medical, Inc. (the "Company"), effective as of November 27, 2023 (the "Effective Date").


As previously disclosed on our current report on Form 8-K, filed November 13, 2023, James B. Frakes, was appointed as Interim Chief Executive Officer of the Company, replacing Dr. Fisher, effective November 7, 2023. In connection with Dr. Fisher's departure, in accordance with the terms of his Executive Employment Agreement with the Company, dated as of October 30, 2020 (the "Fisher Employment Agreement"), and pursuant to Dr. Fisher's Separation Agreement with the Company, effective as of November 27, 2023 (the "Separation Agreement"), the Company will provide Dr. Fisher with (1) cash severance equivalent to twelve months of Dr. Fisher's base salary in effect as of the Separation Date, subject to standard payroll deductions and withholdings, payable over the Company's regular payroll schedule over the next twelve months; (2) the accelerated vesting on fifty percent (50%) of the outstanding and unvested equity awards held by Dr. Fisher that are subject to time-based vesting as of the Separation Date, which will be deemed fully vested and exercisable as of the Separation Date; and (3) reimbursement of COBRA healthcare premium costs for the same level of coverage Dr. Fisher had during his employment with the Company, until the earliest of (i) twelve months from the Effective Date, (ii) the date Dr. Fisher becomes eligible for substantially equivalent healthcare coverage through another source, or (iii) the expiration of Dr. Fisher's eligibility for the continuation coverage. Further, and pursuant to the Separation Agreement, Dr. Fisher provided the Company with a general release of all claims, effective November 27, 2023.


The foregoing description of the Fisher Employment Agreement and the Separation Agreement is a summary only and is qualified in its entirety by reference to the full text of the Fisher Employment Agreement and the Separation Agreement. A copy of the Fisher Employment Agreement was filed as Exhibit 10.2 to Form 8-K filed on November 3, 2020, and a copy of the Separation Agreement is filed as Exhibit 10.1 to this report and incorporated herein by reference.


(e)


The information set forth in Item 5.02(b) above is incorporated by reference into this Item 5.02(e).