SurgePays, Inc. 8-K

What Happened

• SurgePays, Inc. filed an 8-K announcing that Chief Financial Officer Anthony (Tony) Evers’ employment was not renewed and that the company and Mr. Evers entered a Separation Agreement effective January 1, 2026. Under the agreement Mr. Evers will provide consulting services (financial and SEC filing support and transition assistance) from January 1, 2026 through June 30, 2026.
• The company will pay Mr. Evers $250,000 total in twelve equal monthly installments of $20,833.33 and will reimburse his health insurance premiums under COBRA for the period January 1, 2026 through December 31, 2026. The agreement contains standard non‑disclosure and non‑disparagement provisions and includes a general release of claims by Mr. Evers (with customary exclusions).
• Separately, director Richard Schurfeld resigned from the Board effective January 2, 2026 for personal reasons, with the filing stating the departure was not due to any disagreement with management or the Board. On January 5, 2026 the Board appointed director David May to the Audit, Compensation, and Nominating & Corporate Governance Committees and named him chair of the Nominating & Corporate Governance Committee.

Key Details

• Separation Agreement effective: January 1, 2026.
• Consulting period: January 1 – June 30, 2026.
• Compensation: $250,000 total, paid in 12 monthly installments of $20,833.33.
• COBRA health premium reimbursement: January 1 – December 31, 2026.
• Director change: Richard Schurfeld resigned effective January 2, 2026; David May appointed to three committees and as Nominating & Corporate Governance chair on January 5, 2026.

Why It Matters

• The filing documents a planned CFO transition and a formal consulting arrangement intended to support financial reporting and SEC filings during the handoff, which may help continuity in accounting and disclosure processes.
• The $250,000 payment and COBRA reimbursements are discrete near‑term cash or expense items to monitor in 2026 filings.
• Board changes affect committee composition and governance oversight (Audit, Compensation, Nominating & Corporate Governance); investors should note the board remains staffed but with shifted responsibilities.