UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
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FORM
CURRENT REPORT
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Item 1.01 Entry into a Material Definitive Agreement.
On April 25, 2024, B. Sonny Bal, MD, informed the board of directors of his intention to retire from his position as President and Chief Executive Officer of SINTX Technologies, Inc. (the “Company”), effective on the Company naming a replacement President and Chief Executive Officer. Dr. Bal will continue to serve on the Company’s board of directors in the position of Chairman. In connection with Dr. Bal’s retirement, Dr. Bal and the Company entered into a Separation and Release of Claims Agreement (the “Agreement”). The Agreement provides that in exchange for Dr. Bal’s covenants and releases under the terms of the Agreement, Dr. Bal will receive upon his retirement a lump sum payment equal to three months of salary and the Company will pay Dr. Bal’s COBRA premium for a period of three months should he elect COBRA benefits.
The foregoing description of the Agreement is qualified in its entirety by reference to the Agreement, which is filed with this Current Report on Form 8-K as Exhibit 10.1.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As reported under Item 1.01 above, on April 25, 2024, B. Sonny Bal, MD, informed the board of directors of his intention to retire from his position as President and Chief Executive Officer of SINTX Technologies, Inc. (the “Company”), effective on the Company naming a replacement President and Chief Executive Officer. Dr. Bal will continue to serve on the Company’s board of directors in the position of Chairman.
The board of directors of the Company intends to conduct a search of potential internal and external candidates to replace Dr. Bal. Upon naming a replacement, Dr. Bal’s retirement as President and Chief Executive Officer will become effective. Until that time, Dr. Bal will continue to serve as President and Chief Executive Officer.
Item 9.01 Financial Statements and Exhibits.
| Exhibit No. | Description | |
| 10.1 | Separation and Release of Claims Agreement | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| SINTX Technologies, Inc. | ||||
| Date: | April 30, 2024 | By: | /s/ B. Sonny Bal | |
| B. Sonny Bal, M.D. | ||||
| Chief Executive Officer | ||||