BioXcel Therapeutics, Inc. (BTAIQ): CFO Richard Steinhart terminated without cause

Events in this filing

Item 5.02 as filed

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers;
Compensatory Arrangements of Certain Officers.
Termination of Officers
On October 30, 2026,
in connection with the Sale and the wind-down of the Company’s affairs, the board of directors of the Company (the “ Board ”)
terminated Vimal Mehta, Ph.D., the Company’s Chief Executive Officer and President, Richard Steinhart, the Company’s Senior
Vice President and Chief Financial Officer, Frank Yocca, Ph.D., the Company’s Senior Vice President and Chief Scientific Officer,
and Javier Rodriguez, the Company’s Senior Vice President, Chief Legal Officer and Corporate Secretary, from all offices of the
Company and terminated their employment with the Company, in each case effective as of 5:00 p.m., Eastern Time, on October 31, 2026.
Dr. Mehta will continue
to serve as a member of the Board. Commencing November 1, 2026, Dr. Mehta will receive a fee of $5,000 per month for his service
as a director until the earliest of his death, resignation, removal or other termination of his service as a director or the dissolution
of the Company, consistent with the Company’s Non-Employee Director Compensation Program.
Appointment of Officer
On October 30, 2026,
the Board appointed Samir Saleem, the Company’s Chief Restructuring Officer, as President and Secretary of the Company, effective
as of 5:00 p.m., Eastern Time, on October 31, 2026, in addition to his continuing service as Chief Restructuring Officer. Mr. Saleem
will serve as the Company’s principal executive officer.