Fusemachines Inc. Appoints Consulting CFO David R. Wells

What Happened
Fusemachines Inc. announced that its Board appointed David R. Wells as Consulting Chief Financial Officer, Principal Financial Officer, and Principal Accounting Officer, effective August 30, 2026. Mr. Wells will provide CFO services through Atlas Bookkeeping, LLC (Atlas), under a Services Agreement dated September 1, 2026. Atlas and Mr. Wells will act as contractors (not employees) to perform CFO duties for the Company.

Key Details

• Mr. Wells, age 64, brings 30+ years of finance and operations experience and currently owns Atlas Bookkeeping, LLC.
• Fusemachines will pay Atlas a $14,500 monthly advisory fee and paid a $10,000 one-time retainer upon signing.
• The Company will issue monthly grants of 10,000 restricted stock units (RSUs) to Mr. Wells (or Atlas’s designee); each grant fully vests on the date of grant.
• The Services Agreement can be terminated by either party with 30 days’ notice (15 days for an uncured material breach) and includes confidentiality (2 years) and mutual non-solicitation (term + 1 year) provisions. The Company intends to enter a standard indemnification agreement with Mr. Wells.

Why It Matters
This fills the Company’s top finance roles (CFO / principal financial and accounting officer) with an experienced advisor via a consulting arrangement rather than a direct hire. For investors, the arrangement creates ongoing cash advisory expense ($14,500/month), an immediate stock-based compensation pattern (monthly RSUs that vest upon grant), and potential dilution over time as RSUs are issued. The consulting structure also limits employment obligations but binds the Company under the Services Agreement terms summarized above.