CREX Announces CFO Departure, CEO Richard Mills to Temporarily Assume CFO Role

Rhea-AI Filing Summary

Creative Realities disclosed that its Chief Financial Officer, David Ryan Mudd, will resign to accept another CFO role at a larger company, with his departure effective October 10, 2025. The company stated the departure is not due to any disagreement over operations, policies, or accounting matters. The CEO, Richard Mills, is expected to serve as interim CFO while the company seeks a permanent replacement and intends to announce that appointment in the near term.

This change represents a leadership transition at the finance function that the company has labeled orderly, with management assuming temporary coverage pending a search for a successor.

Positive

• Company stated the resignation was not due to any disagreement on operations or accounting, reducing immediate regulatory or governance concerns.
• CEO Richard Mills will serve as interim CFO, providing continuity in financial leadership during the transition.
• Company plans to announce a permanent CFO in the near future, indicating an active succession process.

Negative

• Departure of the CFO to a larger company may disrupt financial planning, reporting, and investor relations during the transition.
• Concentration of roles with the CEO serving as interim CFO could weaken internal financial oversight until a permanent CFO is appointed.

Insights

Corporate Governance Expert

TL;DR: CFO resignation appears orderly; CEO as interim maintains continuity but raises governance and oversight questions.

The announcement specifies the CFO is leaving for a larger firm and that the departure is not due to disagreement over operations or accounting, which reduces immediate governance red flags. Appointing the CEO as interim CFO maintains executive control and continuity but concentrates authority in one individual, which can affect internal checks and oversight until a dedicated finance chief is hired. Investors will want clarity on the timeline and criteria for the permanent hire.

Financial Analyst

TL;DR: Loss of the CFO to a larger company is a potential operational headwind; interim coverage limits near-term disruption.

Replacing a CFO can disrupt financial planning, reporting cadence, and investor communications, especially during transition periods. The filing signals an orderly exit and interim coverage by the CEO, which mitigates short-term execution risk. Material financial impacts are not stated; absent further detail on timing of the permanent hire or changes to reporting responsibilities, the event is neutral-to-moderately negative for near-term operational stability.

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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): September 26, 2025

CREATIVE REALITIES, INC.

(Exact name of registrant as specified in its charter)

Minnesota		001-33169		41-1967918
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

13100 Magisterial Drive, Suite 102, Louisville, KY		40223
(Address of principal executive offices)		(Zip Code)

(502) 791-8800

(Registrant’s telephone number, including area code)

(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, par value $0.01 per share		CREX		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 September 26, 2025, David Ryan Mudd informed Creative Realities, Inc. (the “Company”) that he is resigning as the Company’s Chief Financial Officer effective as of October 10, 2025 to accept another CFO opportunity at a company with annual revenues exceeding $2 billion. Mr. Mudd’s departure from the Company was not due to any disagreement with respect to any matter relating to the Company’s operations, policies or practices or any issues regarding accounting or other financial policies or practices. The Company expects to appoint Richard Mills, Chief Executive Officer of the Company, to serve as interim Chief Financial Officer upon Mr. Mudd’s departure pending the appointment of a permanent replacement. The Company expects to announce a permanent replacement Chief Financial Officer in the near future.

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: September 26, 2025

	Creative Realities, Inc
	By:	/s/ David Ryan Mudd
		David Ryan Mudd
		Chief Financial Officer

FAQ

Why did Creative Realities (CREX) CFO David Ryan Mudd resign?

He resigned to accept another CFO opportunity at a company with annual revenues exceeding $2 billion, and the company stated the departure was not due to any disagreement over operations or accounting.

Who will serve as interim CFO of Creative Realities (CREX)?

Richard Mills, the company's Chief Executive Officer, is expected to serve as interim Chief Financial Officer pending a permanent replacement.

When is the CFO resignation effective for Creative Realities (CREX)?

The resignation is effective October 10, 2025, per the company's disclosure.

Will Creative Realities (CREX) provide a timeline for hiring a permanent CFO?

The company stated it expects to announce a permanent replacement in the near future but provided no specific timeline in the filing.

Did Creative Realities (CREX) report any disagreements related to the CFO's departure?

No; the company explicitly stated the departure was not due to any disagreement regarding the company's operations, policies, practices, accounting, or financial policies.