NEXGEL, INC. CEO Adam R. Levy Departs, Separation Terms Pending

What Happened
NexGel, Inc. announced in an 8-K that it terminated Adam R. Levy’s employment as Chief Executive Officer without Cause effective August 21, 2026. Mr. Levy also resigned from the company’s Board of Directors and from all officer, director, committee and fiduciary roles with NexGel and its subsidiaries.

Key Details

• Termination effective: August 21, 2026.
• Employment agreement referenced: Mr. Levy’s Executive Employment Agreement dated July 23, 2026; termination described as “without Cause” per that agreement.
• Separation agreement: NexGel and Mr. Levy are negotiating a Separation Agreement and Release; material terms have not been finalized. The company said it will file an amendment to disclose material terms if required.
• Exhibit filed: Press release dated August 20, 2026 was included as Exhibit 99.1 to the Form 8-K.

Why It Matters
A CEO departure is a material leadership change that can affect strategy, operations and investor sentiment. Because the company has not disclosed the terms of any separation package, the financial impact (severance, payouts or other obligations) is currently unknown. Investors should watch for the promised amendment or other filings that disclose any settlement terms or an interim/successor CEO plan.