Selectis Health CEO and CFO resign; interim named

Selectis Health, Inc. announced that Adam Desmond has resigned from all roles with the company, including CEO, CFO, and director, effective May 14, 2026.

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Selectis Health, Inc. announced that Adam Desmond has resigned from all roles with the company, including CEO, CFO, and director, effective May 14, 2026. A Separation Agreement and Release has been executed between the parties.

On May 15, 2026, the Board appointed Krystal Eckhart, previously a Vice President, as Interim CEO and Interim CFO. Eckhart has more than 15 years of healthcare revenue cycle and financial operations experience and has worked with Selectis Health since 2016, overseeing Medicare and Medicaid operations, audits, financial reporting, and acquisition-related processes.

Positive

None.

Negative

Simultaneous CEO, CFO, and director resignation by Adam Desmond concentrates leadership turnover at the top of Selectis Health, which can raise concerns about strategic continuity and governance stability until a permanent replacement structure is defined.

Insights

Simultaneous CEO and CFO departure introduces leadership risk, partly offset by an experienced internal interim appointee.

The resignation of Adam Desmond from CEO, CFO, and board roles concentrates leadership change into a single event, which can unsettle stakeholders. The company has formalized the exit through a Separation Agreement and Release, suggesting an organized transition process.

Appointing internal executive Krystal Eckhart as Interim CEO and CFO provides continuity. Her background in revenue cycle management, audits, and financial reporting is directly relevant to the dual role. Future disclosures in company filings may clarify the board’s long-term leadership plans beyond this interim arrangement.

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, or exhibit attachments filed with this report.

Key Terms

Separation Agreement and Release, Interim CEO, emerging growth company, Inline XBRL

4 terms

Separation Agreement and Release regulatory

"A Separation Agreement and Release has been drafted and signed and is filed herewith as Exhibit 10.1."

Interim CEO financial

"the Board of Directors of the Company appointed Krystal Eckhart to serve as the Company’s Interim CEO and CFO."

An interim CEO is a temporary chief executive appointed to lead a company for a short, defined period while the board searches for a permanent leader or handles an unexpected vacancy. Investors watch this role because the interim's decisions and tone can affect day-to-day operations, strategic direction, and market confidence—like a substitute teacher keeping a classroom running until a full-time teacher arrives, the interim can stabilize or shift momentum and influence the stock's outlook.

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.

Inline XBRL technical

"Cover Page Interactive Data File (embedded within the Inline XBRL document)"

Inline XBRL is a file format for financial filings that embeds machine-readable data tags directly inside the human-readable report, so the same document can be read by people and parsed by software. For investors it makes extracting, comparing and verifying financial numbers faster and more reliable—like a grocery list where each item also has a barcode—reducing manual errors and speeding up analysis.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What leadership change did Selectis Health (GBCS) disclose?

Selectis Health disclosed that Adam Desmond resigned as CEO, CFO, and board member effective May 14, 2026. The board then appointed executive Krystal Eckhart as Interim CEO and CFO, consolidating top leadership roles during the transition.

Who is the new Interim CEO and CFO of Selectis Health (GBCS)?

The board appointed Krystal Eckhart as Interim CEO and CFO on May 15, 2026. She is a long-time executive focused on revenue management, Medicare and Medicaid operations, audits, financial reporting, and acquisition-related financial processes across multi-state healthcare facilities.

What agreement governs Adam Desmond’s departure from Selectis Health (GBCS)?

Desmond’s departure is governed by a signed Separation Agreement and Release. This agreement is included as Exhibit 10.1, indicating the company and Desmond have documented terms covering his resignation from all positions with Selectis Health.

What experience does Krystal Eckhart bring to Selectis Health’s interim leadership?

Krystal Eckhart brings over 15 years of healthcare revenue cycle and financial operations experience. She has served Selectis Health since 2016, leading Medicare and Medicaid operations for nine multi-state facilities and overseeing SEC audits, financial reporting, and acquisition-related financial processes.

Does Selectis Health (GBCS) remain an emerging growth company?

Yes. The disclosure indicates that Selectis Health qualifies as an emerging growth company under applicable Exchange Act definitions. This status can affect reporting requirements, though the leadership changes and related agreement are reported in line with standard disclosure obligations.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/20/2026 - 03:13 PM

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): May 14, 2026

SELECTIS HEALTH, INC.

(Exact Name of Registrant as Specified in its Charter)

Utah

0-15415

87-0340206

(State or other jurisdiction

of incorporation)

Commission

File Number

(I.R.S. Employer

Identification number)

600 17^th Street, Suite 2800 South, Denver, CO. 80202

(Address of principal executive offices) (Zip Code)

Registrant’s telephone number, including area code: (720) 680-0808

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

☐	Written communications pursuant to Rule 425 under the Securities Act

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

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

Title of each Class		Trading Symbol		Name of each exchange on which registered
N/A		N/A		N/A

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 PRINCIPAL OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS

Effective May 14, 2026 the Board of Directors of Selectis Health, Inc., a Utah corporation (the “Company”) and Adam Desmond (“Desmond”) agreed that he would resign all positions with the Company including CEO, CFO of the Company and a member of the Board of Directors. A Separation Agreement and Release has been drafted and signed and is filed herewith as Exhibit 10.1.

On May 15, 2026, the Board of Directors of the Company appointed Krystal Eckhart to serve as the Company’s Interim CEO and CFO. Ms. Eckhart currently serves as a Vice President of the Company. Below is the biographical information for Ms. Eckhart.

Krystal Eckhart, age 41, is an accomplished healthcare revenue cycle and financial operations leader with 15+ years of progressive management experience across skilled nursing facilities and multi-state healthcare organizations. Ms. Eckhart has worked with the Company in various capacities since 2016. Currently she serves as a Vice President of Revenue Management, specializing in Lead Medicare and Medicaid operations for 9 multi-state healthcare facilities; overseeing SEC audits, financial reporting, AR/AP operations, and acquisition-related financial processes. She also manages corporate and facility-level employees through training, performance oversight, and operational support. Prior to holding this position Ms. Eckhart served as the Director of Accounts Receivable for the Company focusing on directing Medicare, Managed Care, and Medicaid billing operations in Oklahoma and Georgia; supervising business office managers and maintaining oversight of resident trust accounts; managing audits, aging reviews, month-end close processes, and corporate reporting functions.

Item 9.01

Financial Statements and Exhibits

Exhibit No.		Description
10.1		Separation Agreement and Release
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

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 thereunto duly authorized.

	Selectis Health, Inc. (Registrant)

Dated: May 20, 2026		/s/ Clifford L. Neuman
		Clifford L. Neuman, Director

Source: View Original Filing on SEC EDGAR

Filing Exhibits & Attachments

9 documents

Agreements & Contracts

EX-10.1 EX-10.1 4.3 KB

Selectis Health CEO and CFO resign; interim named