Ategrity Specialty Insurance Co Holdings (ASIC): CFO Neelam Patel 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.
Separation Agreement with Former Chief Financial Officer
As previously disclosed, Neelam Patel ceased serving as Chief Financial Officer of the Company effective July 6, 2026, and her employment terminated effective September 16, 2026 (the “Termination Date”).
On October 20, 2026, the Company entered into a Separation Agreement and Release (the “Separation Agreement”) with Ms. Patel, pursuant to which, subject to the terms and conditions of the Separation Agreement, Ms. Patel will receive the severance payments and benefits payable upon a termination without "cause" under the Employment Agreement between Ms. Patel and the Company dated as of August 13, 2024, consisting of $200,000 in severance payments, payable over six months, a prorated 2026 annual bonus of $354,794.52 and six months of subsidized health coverage, as well as a $50,000 payment pursuant to the Separation Agreement in respect of her 2025 special bonus.
The Separation Agreement includes a general release of claims and requires continued compliance by Ms. Patel with restrictive covenants as a condition to receipt of the foregoing severance benefits.
The foregoing description is qualified in its entirety by reference to the Separation Agreement, filed as Exhibit 10.1 hereto and incorporated herein by reference.