Sensei Biotherapeutics, Inc. 8-K

What Happened

• The company filed an 8-K reporting that it amended its certificate of incorporation to change its name from Sensei Biotherapeutics, Inc. to Faeth Therapeutics, Inc., effective June 15, 2026. Trading is expected under the new Nasdaq symbol "FTH" beginning with the opening of trading on June 16, 2026 (no CUSIP change).
• The Board appointed Anand Parikh as President and Chief Executive Officer and Chair of the Board (effective June 13, 2026). Brian Stephenson was appointed Chief Financial Officer and principal financial officer (effective June 13, 2026). Several board members resigned and two new directors (Stephen M. Hahn and Saira Ramasastry) were appointed effective June 12, 2026.
• Other corporate actions disclosed include termination of the prior Jefferies sales agreement (an “ATM” program) on June 10, 2026 (no shares were sold under that agreement) and relocation of the company’s principal executive office to Austin, TX, effective June 15, 2026.

Key Details

• Name change effective June 15, 2026; Nasdaq ticker change to FTH expected June 16, 2026; no change to CUSIP.
• Anand Parikh’s compensation: $680,000 annual base salary and 60% target bonus; severance on a covered termination outside a change-in-control = 12 months salary + up to 12 months COBRA; enhanced package during change-in-control = 18 months salary, 1.5x target bonus, COBRA for 18 months and full time-based equity acceleration.
• Brian Stephenson severance: 9 months base salary + up to 9 months COBRA outside a change-in-control; enhanced during change-in-control = 12 months salary, 1.0x target bonus, COBRA for 12 months and full acceleration of time-based equity.
• Prior Sales Agreement with Jefferies (up to $50 million ATM capacity) was terminated June 10, 2026; no shares were sold under it.
• Board changes: Christopher Gerry, Thomas Ricks and Kristian Humer resigned (June 12, 2026); Parikh named Chair; new director option grants = 25,000-share options each, vesting monthly to three years.

Why It Matters

• The legal name and ticker change (Sensei → Faeth; ticker FTH) is material for shareholders and traders — update watchlists, broker records and news searches to avoid confusion when trading begins under the new symbol.
• Executive and board changes signal a leadership transition: Anand Parikh is promoted from COO and is a co‑founder with prior leadership experience at Faeth; new CFO presents updated financial leadership. These personnel moves may affect strategy and execution going forward.
• The terminated ATM (Jefferies) means the company currently has no active at-the-market equity facility under that agreement, which could affect future capital-raising flexibility unless a new program is established.
• Severance and change-in-control terms create defined potential cash and equity obligations the company may face under certain termination scenarios; investors should monitor future disclosures for any related payments or equity acceleration events.