CG Oncology, Inc. 8-K

What Happened
CG Oncology, Inc. filed an 8-K on April 13, 2026 announcing the appointment of Jim DeTore (age 61) as Chief Financial Officer, effective April 13, 2026. Mr. DeTore had served as Interim Principal Financial and Accounting Officer since November 2025 under a consulting agreement with Monomoy Advisors, LLC. His prior roles include CFO of Neurogastrx, Inc. (June 2021–June 2025), CFO at Proteostasis Therapeutics (Aug 2016–Feb 2017), CFO at Bluebird Bio (Nov 2014–Feb 2016) and a period as an independent CFO consultant. The company and Mr. DeTore executed an employment agreement dated April 13, 2026 (filed as Exhibit 10.1).

Key Details

• Base salary: $520,000 per year; target annual bonus: 45% of base salary.
• Equity awards: initial stock option award with a target value of $4.0M and a performance stock unit (PSU) award with target value $1.0M; Grant Date: April 15, 2026.
• Option vesting: 4-year schedule starting April 13, 2026 (25% after 12 months, then monthly over 36 months). PSU vesting: 30% on first U.S. commercial sale of first approved product; 70% upon positive operating cash flow for two consecutive fiscal quarters after launch (subject to committee certification).
• Severance: termination without cause (outside change in control) yields 1x base salary, COBRA coverage or cash for up to 12 months, prorated bonus, and partial equity acceleration; in a change-in-control scenario benefits increase to 1.5x base salary, up to 18 months COBRA, full accelerated equity vesting (performance awards remain subject to goals).

Why It Matters
A permanent CFO fills a key leadership role for investors monitoring CG Oncology’s financial planning and execution as the company progresses toward potential product commercialization. Compensation heavily tied to equity and launch/cash-flow milestones aligns the CFO’s incentives with the company’s commercial success, while the severance provisions define potential cash obligations in certain termination scenarios. The appointment documentation and full employment agreement are included in the 8-K for investors seeking the complete terms.