CERUS CORP 8-K

What Happened
Cerus Corporation announced that William “Obi” Greenman ceased serving as President and Chief Executive Officer and began serving as Executive Chairman of the Board effective July 1, 2026. On July 6, 2026, the company and Mr. Greenman executed an amendment to his existing employment letter setting the initial terms of his Executive Chairman role through May 31, 2027 (unless earlier terminated or extended).

Key Details

• Effective date of role change: July 1, 2026; amendment dated July 6, 2026.
• Term: Executive Chairman service through May 31, 2027 unless terminated or extended.
• Time commitment: anticipated to average about 60% of a full-time schedule.
• Compensation: $500,000 annual base salary; for 2026 eligible for an annual cash bonus with a target opportunity equal to 80% of total base salary earned in 2026; no annual cash bonus eligible for any portion of 2027.
• Benefits: if Executive Chairman status triggers COBRA or loss of group health coverage, the company will pay or reimburse COBRA premiums subject to conditions in the amendment.

Why It Matters
This 8‑K details a material leadership change and the specific pay and term terms for the company’s former CEO in his new Executive Chairman role. Investors should note the reduced time commitment (about 60%), the fixed base salary and limited bonus eligibility, and the defined end date of May 31, 2027 — all relevant to governance, executive compensation disclosures, and potential continuity of leadership. The amendment to the employment agreement was filed as an exhibit to the 8‑K.