Advasa Holdings, Inc.: appoints chief financial officer

What happened

• Advasa Holdings, Inc. filed an 8-K reporting that on Oct 6, 2026 the company entered into an employment agreement with William Witherspoon pursuant to which Mr. Witherspoon will serve as chief financial officer. Grady Ryther, the company’s chief executive officer, who had been serving as interim chief financial officer since the departure of prior CFO Katharyn Field on Aug 27, 2026, shall step down from his interim CFO role in connection with Mr. Witherspoon’s appointment.

Key details

• Mr. Witherspoon’s employment agreement is effective Oct 6, 2026; he will continue as a member of the board as a non-independent director and will step down from the audit committee, compensation committee and nominating and corporate governance committee.
• Annual base salary of $200,000; eligibility for discretionary bonuses and discretionary equity grants as determined by the board or authorized compensation committee.
• Mr. Witherspoon has served as an independent director of the company since Jun 24, 2026 and has held roles at UMcapital (asset acquisition manager since Jan 2025), Hubert Development (principal since Jan 2020), Forge Consulting (financial and settlement consultant since Jan 2017), and other businesses during the past five years.
• The employment agreement is at will; either party may terminate at any time, and Mr. Witherspoon agreed to confidentiality and other standard covenants and to provide at least 30 days’ prior written notice in the case of resignation.

Why it may matter

• This report was filed under Item 5.02 (departure of directors or certain officers), describing the appointment of a new chief financial officer and related employment terms. This filing does not show why the insider traded or why the company acted.