AMERICAN SHARED HOSPITAL SERVICES 8-K

What Happened
American Shared Hospital Services filed an 8-K on July 13, 2026 reporting that CFO Raymond S. Frech resigned for personal reasons effective July 7, 2026. The company stated the resignation was not due to any disagreement over accounting policies or practices. The Board appointed Alexis N. Tirrito (Wallace), the company’s Chief Accounting Officer and Secretary, as interim CFO and principal financial and accounting officer effective immediately; she will continue her CAO and Secretary roles.

Key Details

• Resignation date: Raymond S. Frech resigned effective July 7, 2026; the company entered a customary severance agreement with him.
• Interim appointment: Alexis N. Tirrito (Wallace) named Interim CFO effective July 7, 2026; she has been CAO and Secretary since October 2021 and with the company since April 2013.
• Compensation: Board approved Ms. Tirrito’s base salary of $240,000 (effective July 7, 2026) and a 2026 target performance bonus equal to 20% of base salary.
• Background: Ms. Tirrito is a CPA, age 42, formerly Controller (2014–2021) and has prior finance roles at Daughters of Charity Health System and Moss Adams; she holds an undergraduate degree from Santa Clara University.

Why It Matters
This filing documents a change in the company’s senior finance leadership and shows the company has named an experienced internal executive to maintain continuity in financial reporting and operations. The company explicitly said the departure was not related to accounting disagreements, which addresses a common investor concern. The filing also discloses the interim CFO’s compensation terms and that a customary severance was agreed with the departing CFO—details investors may use to assess near‑term executive expenses and governance.