PULSE BIOSCIENCES, INC. 8-K

What Happened
Pulse Biosciences (PLSE) announced the appointment of Liane R. Teplitsky as Chief Operating Officer, effective April 8, 2026, in an 8-K filed April 9, 2026. Ms. Teplitsky joins from Artedrone (CEO) and previously held senior commercial and marketing roles at Abbott, St. Jude Medical and Zimmer Biomet. Her employment is at-will under an Employment Agreement dated April 8, 2026.

Key Details

• Base pay and bonus: Annual base salary $525,000; eligible for an annual target bonus equal to 70% of base salary, subject to performance objectives.
• Equity awards: Stock option to purchase 700,000 shares at $19.06/share (grant and start date April 8, 2026), 10-year term; plus 200,000 restricted stock units (RSUs).
• Option vesting: Up to 200,000 options (2/7) time‑based — 50,000 options on the first anniversary and 50,000 per year over the next three years. Remaining 500,000 options vest upon achieving market-cap and GAAP product revenue milestones:
  • ~133,333 options when market cap ≥ $2.0B for 270 consecutive days and ≥ $100M GAAP product revenue over 12 months;
  • ~233,334 options when market cap ≥ $3.0B for 270 consecutive days and ≥ $200M GAAP product revenue over 12 months;
  • ~133,333 options when market cap ≥ $5.0B for 270 consecutive days and ≥ $330M GAAP product revenue over 12 months.
• RSU performance vesting: 50,000 RSUs at $100M, 100,000 RSUs at $200M, and 50,000 RSUs at $300M of GAAP product revenue over 12 months.
• Other: Ms. Teplitsky will remain Chairman of the Board of Carvolix (Paris-EUR). She signed standard invention assignment, confidentiality, non‑compete and indemnification agreements. No related‑party transactions or family relationships were reported.

Why It Matters
This is a senior commercial hire with deep medical-device and commercialization experience, signaling a focus on scaling product revenue and market adoption. The compensation package mixes cash and substantial performance‑based equity tied to aggressive revenue and market‑cap milestones, aligning Ms. Teplitsky’s pay to company growth targets and potentially creating future dilution if milestones are met and awards vest. Investors should note the specific revenue thresholds ($100M, $200M, $300M, $330M) and market‑cap triggers that will drive equity vesting, and monitor upcoming revenue and market‑cap progress as indicators of potential equity realization and related dilution.