Solana CMO exits with $875K separation payment

Solana Company announced that Antonella Favit‑Van Pelt, MD, PhD, has mutually agreed with the company to resign as Chief Medical Officer, effective April 8, 2026.

Rhea-AI Filing Summary

Solana Company announced that Antonella Favit‑Van Pelt, MD, PhD, has mutually agreed with the company to resign as Chief Medical Officer, effective April 8, 2026. The parties entered into a Separation Agreement effective the same date.

Under this agreement, Dr. Favit‑Van Pelt will receive a lump‑sum separation payment of $875,000, less applicable withholdings, to be paid within ten business days after the effective date. In return, she waives and releases employment‑related claims and must continue to honor confidentiality and invention assignment obligations from her employment agreement.

Positive

• None.

Negative

• Chief Medical Officer departure on April 8, 2026, creates leadership uncertainty in a critical clinical and regulatory role for Solana Company.
• $875,000 separation payment in a single lump sum represents a meaningful cash outlay tied to the executive’s exit.

Insights

Healthcare governance analyst

Solana’s CMO exit brings leadership change and a sizable cash payout.

The departure of Chief Medical Officer Antonella Favit‑Van Pelt concentrates attention on Solana’s clinical and regulatory leadership. A CMO role is strategically important in healthcare, often overseeing clinical development, safety, and interactions with regulators and investigators.

The Separation Agreement grants a $875,000 lump‑sum payment within ten business days after April 8, 2026, in exchange for a waiver of employment‑related claims and continued confidentiality and invention obligations. Future disclosures in company filings may clarify succession plans for this key position and any resulting impact on clinical operations.

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 Figures

Separation payment: $875,000 Effective date of separation: April 8, 2026 Payment timing: 10 business days

3 metrics

Separation payment $875,000 Lump-sum cash payment to former CMO under Separation Agreement

Effective date of separation April 8, 2026 Date CMO resignation and Separation Agreement became effective

Payment timing 10 business days Deadline after April 8, 2026 to pay $875,000 lump sum

Key Terms

Separation Agreement, Emerging growth company, Item 5.02, Inline XBRL

4 terms

Separation Agreement financial

"the Company and Dr. Favit-Van Pelt entered into a separation agreement, effective as of the Effective Date"

A separation agreement is a written contract that spells out the financial and legal terms when an employee and a company part ways, such as final pay, severance, continued benefits, confidentiality, and any release of claims. For investors, it matters because these agreements determine immediate costs, potential future liabilities, and whether departing staff are restricted from competing or disclosing information—factors that can affect a company’s cash flow, risk profile, and leadership continuity.

Emerging growth company regulatory

"Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). 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.

Item 5.02 regulatory

"Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers"

Inline XBRL technical

"104 | Cover Page Interactive Data File (embedded within 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 executive change did Solana Company (HSDT) disclose in this 8-K?

Solana Company disclosed that Antonella Favit‑Van Pelt, MD, PhD, mutually agreed with the company to resign as Chief Medical Officer, effective April 8, 2026. Her departure is formalized through a Separation Agreement signed on the same effective date.

How much is the separation payment to Solana Company’s former CMO?

Under the Separation Agreement, former CMO Antonella Favit‑Van Pelt will receive a separation payment of $875,000. The amount is to be paid in a single lump sum, less applicable withholdings, within ten business days after April 8, 2026.

What does Solana Company receive in exchange for the $875,000 payout?

In exchange for the $875,000 lump‑sum separation payment, Dr. Favit‑Van Pelt agrees to waive and release any claims related to her employment and separation. She must also continue complying with confidentiality and invention assignment obligations from her existing employment agreement.

When is the separation payment to Solana’s former CMO due?

The agreement states that the $875,000 separation payment will be made within ten business days after the April 8, 2026 effective date. The payment is described as a single lump‑sum amount, subject to applicable tax withholdings required by law.

Does the Solana Company 8-K mention any ongoing obligations for the former CMO?

Yes. The filing notes that Dr. Favit‑Van Pelt must continue to comply with confidential information and invention assignment provisions in her employment agreement. These obligations survive her separation and are part of the consideration supporting the separation payment arrangement.

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

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Accepted by SEC EDGAR 04/13/2026 - 04:44 PM Learn about SEC filing dates

0001610853false00016108532026-04-082026-04-08

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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): April 8, 2026

SOLANA COMPANY

(Exact name of registrant as specified in its charter)

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Delaware	001-38445	36-4787690
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)
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642 Newtown Yardley Road, Suite 100 Newtown, PA		18940
(Address of principal executive offices)		(Zip Code)

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Registrant’s telephone number, including area code: (215) 944-6100

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:

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☐	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))

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

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

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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. ☐

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

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On April 8, 2026, Solana Company (the “Company”) and Antonella Favit-Van Pelt, MD, PhD, mutually agreed that Dr. Favit-Van Pelt would separate from the Company and resign as the Company’s Chief Medical Officer, effective as of April 8, 2026 (the “Effective Date”). In connection with her separation from the Company, the Company and Dr. Favit-Van Pelt entered into a separation agreement, effective as of the Effective Date (the “Separation Agreement”).

Pursuant to the Separation Agreement, Dr. Favit-Van Pelt is entitled to a separation payment of $875,000, to be paid in a single lump sum payment, less applicable withholdings, to be made within ten business days after the Effective Date. In exchange for the consideration provided to Dr. Favit-Van Pelt pursuant to the Separation Agreement, Dr. Favit-Van Pelt agreed to waive and release any claims in connection with Dr. Favit-Van Pelt’s employment and separation from the Company. Dr. Favit-Van Pelt must also continue to comply with the confidential information and invention assignment provisions set forth in Dr. Favit-Van Pelt’s employment agreement with the Company. 

The foregoing summary description of the terms of the Separation Agreement does not purport to be complete and is qualified in its entirety by reference to the Separation Agreement, which is filed as Exhibit 10.1 hereto.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

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Exhibit No.	​ ​ ​	Description
​	​	​
10.1	​	Separation Agreement, dated as of April 8, 2026, by and between Solana Company and Antonella Favit-Van Pelt.
104	​	Cover Page Interactive Data File (embedded within Inline XBRL document).

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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 hereunto duly authorized.

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​	​	SOLANA COMPANY.
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Dated: April 13, 2026	​	By:	/s/ Jeffrey S. Mathiesen
​	​	​	Jeffrey S. Mathiesen
​	​	​	Chief Financial Officer, Treasurer and Secretary

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3

Filing Exhibits & Attachments

4 documents

Agreements & Contracts

• EX-10.1 EX-10.1 81.3 KB

Other Documents

• EX-101 EX-101.SCH 2.6 KB
• EX-101 EX-101.LAB 15.5 KB
• EX-101 EX-101.PRE 10.1 KB