STOCK TITAN

Executive exit at Callan JMB (NASDAQ: CJMB) includes $125K severance and 187,500 options

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Callan JMB Inc. reports the resignation of Executive Vice President and director Eric Kash, effective June 5, 2026. The company states his resignation was not due to any disagreement over its operations, policies, or practices.

Under a Settlement, Waiver and Release Agreement, Callan JMB will pay Mr. Kash $125,000 in severance in three monthly installments of $41,666.67, plus accrued unused vacation. He retains 187,500 vested stock options, which remain exercisable for their full 10-year term instead of a shorter post-termination window.

The agreement mutually releases claims between the parties, terminates his October 2024 employment agreement and amendment, and includes confidentiality and non-disparagement provisions. The company also notes forward-looking plans to submit a proposal to regain compliance with Nasdaq’s Stockholders’ Equity Requirement within 45 calendar days.

Positive

  • None.

Negative

  • None.

Insights

Key executive departs with modest severance; options remain intact.

The departure of Executive Vice President and director Eric Kash is a notable governance change, but the company explicitly states it does not stem from disagreements about operations or policies. This framing suggests a negotiated separation rather than a contested break.

The severance package of $125,000, paid over three months, is relatively modest for an executive role, while allowing 187,500 vested options to stay exercisable for the full 10-year term preserves his equity incentive alignment. Mutual releases and termination of the October 2024 employment agreement are standard risk-management mechanics.

The mention of a plan to address Nasdaq’s Stockholders’ Equity Requirement within 45 days highlights an ongoing listing-compliance issue referenced elsewhere in company disclosures. Actual impact for shareholders will depend on how the company ultimately restores equity levels, which is not detailed here.

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.
Severance amount $125,000 Total severance for Eric Kash under Settlement Agreement
Monthly severance installment $41,666.67 Three equal monthly severance payments to Eric Kash
Vested stock options 187,500 options Vested options retained by Eric Kash, full 10-year term
Compliance plan window 45 calendar days Timeframe to submit plan to regain Nasdaq Stockholders’ Equity compliance
Employment Agreement date October 1, 2024 Original Employment Agreement later terminated by Settlement Agreement
Amendment date October 24, 2024 Amendment to Employment Agreement also terminated
Settlement, Waiver and Release Agreement financial
"the Company and Mr. Kash entered into a Settlement, Waiver and Release Agreement, dated June 5, 2026"
mutual releases regulatory
"The Settlement Agreement contains mutual releases of claims by the Company and Mr. Kash"
A mutual release is a legal agreement in which two parties agree to give up any present or future claims against each other arising from a specified matter, effectively ending disputes and preventing new lawsuits on those issues. For investors, mutual releases matter because they remove or limit potential liabilities and uncertainty—like both sides agreeing to drop their complaints and walk away—which can affect a company’s legal exposure, financial reserves, and perceived risk.
Stockholders’ Equity Requirement regulatory
"statements regarding the Company’s intent to submit a plan to regain compliance with the Stockholders’ Equity Requirement"
A stockholders’ equity requirement is a minimum amount of net assets — assets minus liabilities — that a company must keep on its balance sheet to meet rules set by regulators, lenders or stock exchanges. Think of it as a required safety buffer or minimum bank balance that shows the company has enough of its own capital to absorb losses; falling below it can limit dividends, trigger covenants or risk sanctions, so investors watch it as a sign of financial health and compliance.
forward-looking statements regulatory
"contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Emerging growth company regulatory
"Emerging growth company"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
non-disparagement financial
"includes customary confidentiality, non-disparagement, covenant not to sue, cooperation and related provisions"
A non-disparagement provision is a promise in an agreement that one party will not make negative public statements about the other, like a vow to avoid “badmouthing” a business or its leaders. Investors care because such promises protect reputation and can limit public criticism that might affect a company’s stock price, signal unresolved disputes, or introduce legal risk if enforcement leads to further costs or constrained disclosure.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF

THE SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): June 5, 2026

 

Callan JMB Inc.

(Exact name of registrant as specified in its charter)

 

Nevada   001-42506   99-0931141

(State or other jurisdiction 

of incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

244 Flightline Drive

Spring Branch, Texas

  78070
(Address of principal executive offices)   (Zip Code)

 

Registrant’s telephone number, including area code: (830) 438-0395

 

N/A

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
   
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
   
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
   
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common Stock, $0.001 par value   CJMB   The Nasdaq Stock Market LLC

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

On June 5, 2026, Eric Kash resigned from his position as Executive Vice President of Callan JMB Inc. (the “Company”), and from his position as a member of the Board of Directors of the Company, including any committee positions, effective as of June 5, 2026. Mr. Kash’s resignation was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.

 

In connection with Mr. Kash’s resignation, the Company and Mr. Kash entered into a Settlement, Waiver and Release Agreement, dated June 5, 2026 (the “Settlement Agreement”). Pursuant to the Settlement Agreement, the Company agreed to pay Mr. Kash a total severance amount of $125,000, payable in three equal monthly installments of $41,666.67 each, less applicable withholdings and deductions, with the first installment payable following the expiration of the applicable revocation period. The Company also agreed to pay Mr. Kash all accrued and unused vacation pay earned through the effective date of his separation, less applicable withholdings and deductions.

 

The Settlement Agreement further provides that Mr. Kash currently holds 187,500 vested stock options, which will remain outstanding and exercisable in accordance with their terms and will expire only upon expiration of the 10-year option term set forth in the applicable award agreement, and will not be subject to any shorter post-termination exercise period as a result of Mr. Kash’s separation from the Company.

 

The Settlement Agreement contains mutual releases of claims by the Company and Mr. Kash, provides for termination of the Employment Agreement, dated October 1, 2024, as amended by the Amendment to Employment Agreement dated October 24, 2024, and includes customary confidentiality, non-disparagement, covenant not to sue, cooperation and related provisions. The foregoing description of the Settlement Agreement is qualified in its entirety by reference to the full text of the Settlement Agreement, a copy of which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference. 

 

Forward-Looking Statements

 

This Current Report on Form 8-K contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to future events or the future financial performance of the Company and involve known and unknown risks, uncertainties, and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the forward-looking statements.

 

In some cases, forward-looking statements can be identified by terms such as “may,” “will,” “should,” “expects,” “plans,” “anticipates,” “intends,” “believes,” “estimates,” “projects,” “potential,” “continues,” or the negative of these terms or other comparable terminology. These forward-looking statements include, but are not limited to, statements regarding the Company’s intent to submit a plan to regain compliance with the Stockholders’ Equity Requirement within 45 calendar days and the Company’s ability to regain compliance with the Stockholders’ Equity Requirement by the deadline imposed by Nasdaq.

 

These forward-looking statements reflect the Company’s current expectations and projections based on information available as of the date of this Current Report on Form 8-K and are subject to a number of risks and uncertainties, including, but not limited to, general economic, financial, and business conditions; the Company’s ability to successfully implement its strategic initiatives; supply chain disruptions; regulatory compliance and legal proceedings; and other risks detailed from time to time in the Company’s filings with the Securities and Exchange Commission, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q.

 

The Company cautions investors that forward-looking statements are not guarantees of future performance and actual results may differ materially from those projected. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as required by law.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits.

 

Exhibit No.   Description
     
10.1   Settlement, Waiver and Release Agreement, dated June 5, 2026, by and between Callan JMB Inc. and Eric Kash.
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.

 

Date: June 11, 2026 Callan JMB Inc.
     
  By: /s/ Wayne Williams
  Name: Wayne Williams
  Title: Chief Executive Officer

 

 

 

FAQ

Why did Eric Kash resign from Callan JMB (CJMB) in June 2026?

Eric Kash resigned as Executive Vice President and board member of Callan JMB effective June 5, 2026. The company states his resignation was not due to any disagreement regarding its operations, policies, or practices, indicating a negotiated departure rather than a conflict over corporate direction.

What severance will Callan JMB (CJMB) pay Eric Kash after his resignation?

Callan JMB agreed to pay Eric Kash total severance of $125,000 following his June 5, 2026 resignation. The amount will be paid in three equal monthly installments of $41,666.67 each, less applicable withholdings, and he will also receive accrued and unused vacation pay through his separation date.

What happens to Eric Kash’s stock options after leaving Callan JMB (CJMB)?

The Settlement Agreement confirms Eric Kash holds 187,500 vested stock options that remain outstanding after his resignation. These options will stay exercisable under their original terms and will expire only at the end of the 10-year option term, without a shortened post-termination exercise period.

What is the Settlement, Waiver and Release Agreement between Callan JMB (CJMB) and Eric Kash?

The Settlement, Waiver and Release Agreement, dated June 5, 2026, sets Kash’s $125,000 severance, preserves his 187,500 vested options, and pays accrued vacation. It also terminates his October 2024 employment agreement, includes mutual releases of claims, and adds confidentiality, non-disparagement, covenant not to sue, and cooperation provisions.

How does Nasdaq’s Stockholders’ Equity Requirement relate to Callan JMB (CJMB)?

Callan JMB notes plans to submit a plan to regain compliance with Nasdaq’s Stockholders’ Equity Requirement within 45 calendar days. This indicates Nasdaq has raised concerns about the company’s stockholders’ equity level, and Callan JMB intends to outline steps to meet the exchange’s listing standard by the required deadline.

Which prior agreements with Eric Kash are affected by this Callan JMB (CJMB) filing?

The Settlement, Waiver and Release Agreement terminates Eric Kash’s Employment Agreement dated October 1, 2024, along with the Amendment to Employment Agreement dated October 24, 2024. Those prior employment arrangements are replaced by the settlement terms covering severance, option treatment, mutual releases, and related covenants.

Filing Exhibits & Attachments

4 documents