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Posted 14 February, 2022

Quantum-Si Inc appointed Jonathan M. Rothberg, Ph.D. as new CEO

Nasdaq:QSI appointed new Chief Executive Officer Jonathan M. Rothberg, Ph.D. in a 8-K filed on 14 February, 2022.


  On February 8, 2022, the Board appointed Jonathan M. Rothberg, Ph.D. as Interim Chief Executive Officer of the Company, effective as of February 8, 2022, to succeed Mr. Stark while the Company searches for Mr. Stark's replacement.  

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Overview of Quantum-Si Inc
Health Care/Life Sciences • Biotechnology
Quantum-Si, Inc. engages in the development of a proprietary universal single-molecule detection platform to enable Next-Generation Protein Sequencing, the ability to sequence proteins in a massively parallel fashion. It can be used for the study of nucleic acids. Its platform includes Carbon automated sample preparation instrument, Platinum NGPS instrument, Quantum-Si Cloud software service, and reagent kits and chips for use with its instruments. The company was founded by Jonathan M. Rothberg on June 24, 2013 and is headquartered in Branford, CT.
Market Cap
$152M
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Quantum-Si 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.


Chief Executive Officer and Director Resignation


Effective February 8, 2022, John Stark delivered his resignation as Quantum-Si Incorporated's (the "Company") Chief Executive Officer and a member of the Board of Directors (the "Board") in order to pursue opportunities outside of the Company. The Company has launched a search for Mr. Stark's replacement and, pending such replacement, Jonathan M. Rothberg, Ph.D., the Executive Chairman of the Board of the Company, will serve as Interim Chief Executive Officer. In connection with Mr. Stark's resignation, the Company and Mr. Stark entered into a separation agreement (the "Separation Agreement"), dated as of February 11, 2022, that provides the Company will pay Mr. Stark (i) severance pay equal to $500,000, or one year of his current annual base salary, (ii) an annual bonus equal to $352,750 for the year ended December 31, 2021 and (iii) a special bonus equal to $250,000, provided that Mr. Stark does not revoke the Separation Agreement on or before February 18, 2022. The Separation Agreement also includes other customary provisions.


A copy of the Separation Agreement is filed as Exhibit 10.1 to this Current Report on Form 8-K and the foregoing description is subject in all respects to the actual terms of the Separation Agreement.


Interim Chief Executive Officer Appointment


On February 8, 2022, the Board appointed Jonathan M. Rothberg, Ph.D. as Interim Chief Executive Officer of the Company, effective as of February 8, 2022, to succeed Mr. Stark while the Company searches for Mr. Stark's replacement. Dr. Rothberg currently serves as the Company's Executive Chairman of the Board, and biographical information for him can be found under the caption "Management" in the Company's Registration Statement on Form S-1, filed with the Securities and Exchange Commission on July 2, 2021 (the "Registration Statement"), and is incorporated herein by reference. There are no family relationships between Dr. Rothberg and any director or executive officer of the Company that are required to be disclosed pursuant to Item 401(d) of Regulation S-K and there are no arrangements or understandings between Dr. Rothberg and any other persons pursuant to which Dr. Rothberg was appointed to serve as Interim Chief Executive Officer of the Company. Except as previously disclosed under the caption "Certain Relationships and Related Party Transactions" in the Registration Statement, which is incorporated herein by reference, there are no transactions between Dr. Rothberg and the Company that would be reportable under Item 404(a) of Regulation S-K.


Dr. Rothberg will not receive any additional compensation for serving as Interim Chief Executive Officer. Dr. Rothberg will also continue to serve as Executive Chairman of the Board.