Coda Octopus Group, Inc. 8-K

What Happened
Coda Octopus Group, Inc. announced that its interim Chief Financial Officer, Gayle Jardine, will retire effective August 3, 2026. The company finalized the appointment of Mark Kelly as Chief Financial Officer on July 1, 2026; his appointment is effective August 3, 2026 and is subject to a three-month probationary period (which the company may extend by up to two additional months).

Key Details

• Retirement effective date: Gayle Jardine will retire August 3, 2026.
• New CFO appointment: Mark Kelly confirmed July 1, 2026; effective August 3, 2026, subject to a 3-month probation (possible 2-month extension).
• Compensation: annual base salary £165,000 (approx. $218,625 at $1.325/£1); discretionary annual bonuses possible.
• Equity & vesting: restricted stock grant valued at $40,000, vesting in two equal annual installments beginning October 31, 2027, subject to certain performance milestones.
• Background: Mr. Kelly is a Chartered Accountant (qualified 1996) with prior roles including Finance Director at Medac Pharma (2024–2025), Head of Glasgow Finance at Chubb Insurance (2022–2024), Finance Director at Twist Bioscience (2021–2022), and Senior Finance Director/European Controller at Charles River Laboratories (2016–2021).

Why It Matters
This 8-K notifies investors of a planned leadership change in Coda Octopus’s financial team and discloses the new CFO’s compensation and vesting terms. The filing provides timelines (retirement and effective date) and the probationary condition, which are relevant for assessing timing and certainty of the management transition. The disclosed salary and equity grant quantify direct compensation-related costs and potential future share issuance tied to performance vesting.