Foghorn Therapeutics Inc. 8-K

What Happened
Foghorn Therapeutics Inc. announced on February 23, 2026 that Ryan D. Maynard, age 56, has been appointed Chief Financial Officer and will serve as the company's principal financial officer and principal accounting officer, effective immediately. Mr. Maynard joins from prior CFO roles at Cara Therapeutics (Sep 2022–2025), LetsGetChecked (Oct 2019–Mar 2022), Blade Therapeutics (Feb 2018–Jun 2019) and Rigel Pharmaceuticals (2001–2017). In connection with his appointment, Jeff Sacher, the interim CFO, will cease serving in those roles.

Key Details

• Effective date: February 23, 2026.
• Cash pay: annual base salary of $510,000 and eligibility for an annual performance bonus targeted at 40% of base salary.
• Signing compensation: $90,000 signing bonus.
• Equity: option award to purchase 400,000 shares under the 2020 Equity Incentive Plan, to be granted on or after Feb 23, 2026; exercise price = closing market price on grant date; vests 25% after one year then remaining 75% in equal quarterly installments over the next 12 quarters, subject to continued employment.
• Other: Employment letter filed as Exhibit 10.1; press release filed as Exhibit 99.1. The filing states no related-party transactions or family relationships involving Mr. Maynard.

Why It Matters
A permanent CFO appointment affects investor oversight of Foghorn’s finances, reporting and capital plans. The compensation package (base pay, bonus target, signing bonus and a 400,000-share option grant with multi-year vesting) signals management’s plan for aligning long-term incentives with company performance; the equity grant, when exercised/vested, will have a dilutive effect over time. Mr. Maynard’s extensive biotech finance experience at both public and private companies may influence Foghorn’s financial strategy, reporting cadence and interactions with investors and the capital markets.