Galera Therapeutics, Inc. 8-K

What Happened

• Galera Therapeutics (GRTX) filed an 8-K dated February 12, 2026 disclosing a letter agreement dated February 6, 2026 with Joel Sussman, the company’s Chief Accounting Officer, Treasurer, Secretary and a named executive officer.
• Under the agreement, Mr. Sussman is eligible for retention-based cash bonus payments of up to $250,000 tied to the timely completion and filing of certain company reporting obligations. The filing notes that any retention bonuses paid will reduce, dollar-for-dollar, any severance payments he may be entitled to under his existing employment agreement. If Mr. Sussman is involuntarily terminated (other than for cause) or resigns for good reason, any unpaid retention bonus will be paid regardless of the original conditions.

Key Details

• Agreement date: February 6, 2026; 8-K filed February 12, 2026.
• Maximum retention bonus: up to $250,000 in aggregate.
• Paid bonuses offset severance on a dollar-for-dollar basis.
• Unpaid retention bonus becomes payable upon involuntary termination (other than for cause) or termination for good reason.

Why It Matters

• The agreement is a retention measure aimed at keeping a key accounting and finance executive through critical reporting deadlines, which can help ensure timely financial disclosures.
• The arrangement can affect cash compensation and potential severance outcomes for Mr. Sussman but does not directly change the company’s reported financial results.
• Investors should note this governance and personnel action as it relates to continuity in financial reporting and potential near-term cash outflows if retention or termination triggers are met.