HeartBeam (NASDAQ: BEAT) outlines Eno severance and advisory role
Rhea-AI Filing Summary
HeartBeam, Inc. filed an amendment to update terms related to the departure of Robert P. Eno, confirming that a Separation Agreement and an Advisory Agreement were executed on July 30, 2026.
Under the Separation Agreement, Mr. Eno receives a lump sum cash payment of $300,000, equal to nine months of base salary, in exchange for a release of claims and continued compliance with restrictive covenants. He is eligible to serve as a non-employee advisor under the Advisory Agreement, with a one-time $1,000 advisory retainer. All of his outstanding stock options and restricted stock units fully vest, and the post-termination exercise period for each option is extended until the earlier of December 31, 2027 or the option’s original expiration. HeartBeam will also reimburse up to nine months of COBRA premiums.
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8-K Event Classification
2 items: 5.02, 9.01
2 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
Severance cash payment: $300,000
COBRA premium reimbursement period: up to nine months
Option exercise extension end date: December 31, 2027
+2 more
5 metrics
Severance cash payment
$300,000
Lump sum reflecting nine months of Robert P. Eno's base salary under the Separation Agreement.
COBRA premium reimbursement period
up to nine months
Duration of COBRA premium reimbursement for Robert P. Eno.
Option exercise extension end date
December 31, 2027
Latest date to exercise outstanding stock options, subject to each option’s original term.
Advisory retainer fee
$1,000
One-time advisory fee for Robert P. Eno under the Advisory Agreement.
Agreement execution date
July 30, 2026
Date the Separation Agreement and Advisory Agreement with Robert P. Eno were executed.
Key Terms
Separation Agreement and Release, Advisory Agreement, COBRA premium reimbursement, restrictive covenants, +1 more
5 terms
Separation Agreement and Release financial
"The Company and Mr. Eno entered into a Separation Agreement and Release on July 30, 2026."
Advisory Agreement financial
"The Separation Agreement and an Advisory Agreement were entered into on July 30, 2026."
An advisory agreement is a written contract that spells out the responsibilities, fees and length of time a company hires an outside advisor — such as a financial, strategic or legal consultant — to provide ongoing guidance. For investors, it matters because the agreement sets costs, performance expectations, and any limits or conflicts that can affect a company’s strategy and financial results, similar to seeing the terms of a hired expert before judging their influence.
restrictive covenants financial
"In exchange for a release of claims and his continued compliance with restrictive covenants."
Restrictive covenants are contract terms that limit what a company, its executives, or shareholders can do—like rules that prohibit selling stock, starting a rival business, or taking on certain debts. Think of them as house rules that protect one party’s interests by keeping risky or competitive actions off the table. For investors they matter because these limits affect a company’s flexibility, governance, potential future value and the ease of exiting an investment.
post-termination exercise period financial
"An extension of the post-termination exercise period for each of Mr. Eno’s outstanding stock options."
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What severance payment does HeartBeam (BEAT) provide to Robert P. Eno?
HeartBeam provides Robert P. Eno a lump sum severance of $300,000. This amount reflects nine months of his base salary and is contingent on his release of claims in favor of the company and continued compliance with restrictive covenants.
How long can Robert P. Eno exercise HeartBeam (BEAT) stock options after leaving?
Robert P. Eno’s post-termination option exercise period is extended until December 31, 2027, or the options’ original expiration, whichever comes first. This extension applies to each of his outstanding stock options under the Separation Agreement.
Which equity awards accelerate under HeartBeam (BEAT)'s Separation Agreement with Robert P. Eno?
All of Robert P. Eno’s outstanding stock options and restricted stock unit awards fully vest. This acceleration is provided under the Separation Agreement, subject to the terms and conditions of HeartBeam’s 2022 Equity Incentive Plan.
What compensation does the Advisory Agreement provide Robert P. Eno at HeartBeam (BEAT)?
Under the Advisory Agreement, Robert P. Eno receives a one-time advisory retainer of $1,000. This fee is for his service as a non-employee advisor to HeartBeam following his separation as an officer.