Jasper Therapeutics, Inc. 8-K

What Happened
Jasper Therapeutics (JSPR) announced that Ron Martell will cease serving as Chief Executive Officer and President effective January 5, 2026; his departure is treated as a termination without Cause under his employment agreement. The Board appointed Chief Operating Officer Jeet Mahal as Chief Executive Officer and President effective January 5, 2026, and concurrently named Board Chair Thomas G. Wiggans as Executive Chair.

Key Details

• Ron Martell’s departure: effective January 5, 2026; his resignation from the Board was automatic and not due to any disagreement with the company.
• Severance for Martell: entitled to 18 months of base salary (subject to signing a release) and COBRA premiums paid for up to 18 months, per his June 10, 2024 employment agreement.
• Jeet Mahal’s new role and pay: appointed CEO and President and added as a Class III director effective January 5, 2026; annualized salary increased to $600,000 and eligible for an annual performance bonus up to 50% of base salary. Employment remains at‑will; future equity or discretionary cash awards may be granted at the Compensation Committee’s discretion.
• Governance change: Thomas G. Wiggans moved from Board Chair to Executive Chair effective January 5, 2026. A press release dated January 7, 2026 was attached to the 8-K.

Why It Matters
Leadership changes can affect strategy, execution and investor confidence. The filing spells out the financial impact of the CEO transition (severance and benefit payments) and the new CEO’s compensation framework, which can influence future operating costs and incentive alignment. Investors should note the effective date (Jan 5, 2026) and that the change was handled via existing employment agreements and board appointments; no related-party transactions or disagreements were reported.