STREAMLINE HEALTH SOLUTIONS INC. appointed Benjamin L. Stilwill as new CEO

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. 


Executive Chairman and Chief Executive Officer Transition


In connection with the strategic restructuring, the Company appointed Benjamin L. Stilwill as Chief Executive Officer of the Company, effective October 13, 2023. Mr. Stilwill is succeeding Wyche T. "Tee" Green, III as Chief Executive Officer, with Mr. Green transitioning to the role of Executive Chairman. Mr. Stilwill, age 34, joined the Company in 2013 and has served as President of the Company since October 2022.


Following his transition to the role of Executive Chairman, Mr. Green has agreed to forego a salary and will continue to serve as a director and as Chairman of the board of directors of the Company.


Appointment of Interim Chief Financial Officer


On October 13, 2023, the Company appointed Bryant "B.J." Reeves as Interim Chief Financial Officer, Principal Financial Officer and Principal Accounting Officer of the Company, effective October 13, 2023. Mr. Reeves will serve in such capacity until the Company appoints a full-time replacement to fill such roles.


Mr. Reeves, age 47, has served as the Company's Chief of Staff since December 2022. Mr. Reeves previously served in corporate accounting and financial reporting management roles with the Company, including as the Director of Financial Planning and Analysis from October 2021 to December 2022 and as Director of Revenue from July 2020 to October 2021. Prior to joining the Company, Mr. Reeves held various senior finance and accounting roles with Agilysys, Inc., a publicly traded hospitality software solution developer, from June 2013 to July 2020.


There are no family relationships between Mr. Reeves and any director, executive officer, or any person nominated or chosen by the Company to become a director or executive officer. Mr. Reeves is not a party to, and does not have any director or indirect material interest in, any current or proposed transaction requiring disclosure under Item 404(a) of Regulation S-K.


In connection with the strategic restructuring, Thomas J. Gibson will no longer serve as Chief Financial Officer of the Company, effective October 13, 2023. Mr. Gibson will remain with the Company through October 31, 2023 to support the transition, at which time he will be entitled to severance benefits as set forth in his existing employment agreement. In connection with his departure, Mr. Gibson and the Company entered into a General Release, dated October 13, 2023 (the "Release"), pursuant to which the Company agreed to accelerate the vesting of 110,000 outstanding and unvested shares of restricted common stock of the Company previously granted to Mr. Gibson, subject to Mr. Gibson's non-revocation of the Release and continued compliance with the other terms and conditions set forth in his employment agreement.


The foregoing description of the Release does not purport to be complete and is qualified in its entirety by reference to the copy of the Release filed as Exhibit 10.1 to this Current Report on Form 8-K, which is incorporated herein by reference.