Aspira Women's Health Inc. 8-K/A

What Happened
Aspira Women's Health Inc. (AWHL) filed an Amendment to its June 22, 2026 Form 8-K describing the Separation Agreement with former CEO Michael Buhle. Buhle ceased serving as CEO effective June 17, 2026 and John (Jack) Fraser was appointed Interim CEO. The Separation Agreement was entered June 27, 2026 (executed June 28) and becomes effective after a seven-day revocation period (expected on or about July 6, 2026), provided Buhle does not revoke.

Key Details

• Cash severance: $200,000 total (equal to six months base salary), paid in regular payroll installments beginning on the first payroll date after the Effective Date. A prorated $4,615.38 was included in the July 15, 2026 payroll run because the agreement was executed on or before June 29, 2026 (subject to repayment if revoked).
• Health coverage: Company will pay COBRA premiums for Buhle and eligible dependents for six months after the Separation Date, unless he becomes eligible for comparable benefits sooner.
• Equity: Subject to Compensation Committee approval, vesting of options covering 64,583 shares at a $0.07 exercise price will be accelerated and become exercisable as of the Effective Date; Buhle will have 90 calendar days after the Effective Date to exercise those options. All other unvested options and equity awards were forfeited as of the Separation Date.
• Sale restrictions: Shares acquired on exercise are subject to (i) a 90-day lock-up per exercise, (ii) a daily sale limit of 2,500 shares, (iii) a $0.45 per-share price floor, and (iv) required use of a mutually agreeable broker with advance notice to the CEO.
• Protections and obligations: The agreement includes mutual releases of claims with customary carve-outs, mutual non-disparagement and confidentiality, and continued restrictive covenants (confidentiality, non-solicit, non-interference). Material breach can trigger forfeiture/repayment of separation payments. Governing law is Texas (equity award documents as specified, including Delaware under the 2019 Stock Incentive Plan). The company stated Buhle’s departure was not due to any disagreement with the company.

Why It Matters
This filing gives investors the specific financial and equity implications of the CEO transition: a modest cash severance ($200K), six months of COBRA coverage, and limited acceleration of equity (64,583 options at $0.07) rather than broad vesting. The restrictions on exercising and selling shares limit near-term insider share supply. The item confirms continuity steps (interim CEO appointment) and that the separation was not due to a dispute with the company—useful context when evaluating leadership stability and potential near-term insider selling.