STOCK TITAN
  1. Home
  2. Sec-filings
  3. PSTV
  4. [8-K] PLUS THERAPEUTICS, INC. Reports Material Event

Plus Therapeutics (PSTV) hires Eric J. Daniels as Chief Development Officer with equity package

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

Rhea-AI Filing Summary

Plus Therapeutics, Inc. appointed Dr. Eric J. Daniels as Chief Development Officer, effective April 20, 2026. He will oversee development and approval of the company’s pharmaceutical pipeline.

Under his employment agreement, Dr. Daniels will receive a $460,000 base salary, a 40% target bonus, 20,000 stock options and 20,000 restricted stock units, along with severance and partial equity vesting acceleration if he is terminated without cause or resigns for good reason.

Positive

  • None.

Negative

  • None.
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.
Base salary $460,000 per year Initial annual base salary for CDO role
Target bonus 40% of base salary Annual target bonus opportunity for Dr. Daniels
Stock options granted 20,000 shares Options to purchase common stock, four-year monthly vesting with one-year cliff
RSUs granted 20,000 RSUs Restricted stock units vesting quarterly over three years with one-year cliff
Salary severance multiple 12 months Cash severance equal to 12 times monthly base salary upon Involuntary Termination
COBRA premium coverage 12 months COBRA premiums for Dr. Daniels and eligible dependents after Involuntary Termination
Equity vesting acceleration period 9 months Additional vesting period accelerated for unvested Stock Awards after Involuntary Termination
restricted stock units financial
"and (b) 20,000 restricted stock units (“RSUs”), which RSUs will vest quarterly"
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Involuntary Termination financial
"If Dr. Daniels’ employment is terminated by the Company without cause or if Dr. Daniels resigns for good reason (such an event, an “Involuntary Termination”)"
target bonus financial
"Dr. Daniels has been assigned an initial annual target bonus of 40% of his base salary."
Consolidated Omnibus Budget Reconciliation Act of 1985 financial
"an amount equal to twelve multiplied by the monthly premium required to pay for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985"
indemnification agreement financial
"it is expected that Dr. Daniels will enter into the Company’s standard form of indemnification agreement."
An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.
Understanding 8-K Material Events →
false000109598100010959812026-04-082026-04-08

 

 

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

 

 

PLUS THERAPEUTICS, INC.

(Exact name of Registrant as Specified in Its Charter)

 

 

Delaware

001-34375

33-0827593

(State or Other Jurisdiction
of Incorporation)

(Commission File Number)

(IRS Employer
Identification No.)

 

 

 

 

 

6420 LEVIT GREEN BOULEVARD

Suite 310

 

Houston, Texas

 

77021

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s Telephone Number, Including Area Code: (737) 255-7194

 

 

(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 $0.001 per share

 

PSTV

 

The Nasdaq Capital Market

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.

Appointment of Eric J. Daniels, M.D. as Chief Development Officer

On April 9, 2026, Plus Therapeutics, Inc. (the “Company”) announced the appointment of Dr. Eric J. Daniels as Chief Development Officer of the Company, effective April 20, 2026. Dr. Daniels, age 53, will be responsible for the development and ultimate approval of the Company’s pharmaceutical pipeline effective upon the commencement of his employment with the Company.

Prior to joining the Company, from October 2021 through April 2026, Dr. Daniels served as the chief development officer of Kiora Pharmaceuticals (NASDAQ:KPRX). In addition, from 2018 through 2021, Dr. Daniels served as the executive director and co-founder of Bayon Therapeutics until it was acquired by Kiora Pharmaceuticals in October 2021 and as chief executive officer of OccuRx Pty Ltd., a clinical stage biotechnology company targeting microvascular disease for ocular indications, from July 2020 through October 2021. Dr. Daniels is also a co-founder and director of Okogen, Inc., a specialty biotechnology development stage ophthalmic company focused on a novel therapeutic for the treatment of viral infections of the eye, since May 2016. Since January 2014, Dr. Daniels has served on the clinical advisory board of Bimini, LLC and was chief medical officer of Bimini from January 2014 to October 2021. From April 2012 to November 2016, Dr. Daniels served as vice president – marketing & sales for Tensys Medical, Inc. (an HBM portfolio company). Dr. Daniels received his B.S. from the University of California Berkeley, his M.D. from the University of California, Los Angeles School of Medicine, and his MBA from the University of California, Los Angeles Anderson School of Management.

On April 8, 2026, in connection with Dr. Daniels’ appointment as CDO for the Company, the Company entered into an Employment Agreement (the “Daniels Employment Agreement”) with Dr. Daniels, effective April 20, 2026. Pursuant to the terms of the Daniels Employment Agreement, Dr. Daniels will receive an initial annual base salary of $460,000 and will be eligible to participate in the Company’s benefit and compensation plans. Dr. Daniels has been assigned an initial annual target bonus of 40% of his base salary. Further, in an effort to induce Dr. Daniels to accept the offer, Dr. Daniels will also be granted (a) an option to purchase up to 20,000 shares of the Company’s common stock, which will have an exercise price per share equal to the fair market value of the common stock on the date of grant and which are expected to vest and become exercisable in monthly installments over the next four years, subject to a one-year cliff; and (b) 20,000 restricted stock units (“RSUs”), which RSUs will vest quarterly over three years, subject to a one-year cliff (the stock options and RSUs are collectively referred to herein as the “Stock Awards”). In addition, it is expected that Dr. Daniels will enter into the Company’s standard form of indemnification agreement.

If Dr. Daniels’ employment is terminated by the Company without cause or if Dr. Daniels resigns for good reason (such an event, an “Involuntary Termination”), Dr. Daniels will receive, among other things, severance in an amount equal to the sum of (i) twelve multiplied by Dr. Daniels’ monthly base salary as in effect immediately prior to the Involuntary Termination, plus (ii) an amount equal to Dr. Daniels’ target bonus for the year in which the Involuntary Termination occurs, plus (iii) to the extent such Involuntary Termination occurs prior to the payment of Dr. Daniels’ annual bonus for the calendar year preceding the date of such Involuntary Termination, the amount of his annual bonus for such completed calendar year, plus (iv) an amount equal to twelve multiplied by the monthly premium required to pay for continuation coverage pursuant to the Consolidated Omnibus Budget Reconciliation Act of 1985, as amended, for Dr. Daniels and his or her eligible dependents who were covered under the Company’s health plans as of the date of the Involuntary Termination. In addition, the vesting of any of Dr. Daniels’ unvested Stock Awards will automatically accelerate on the date of the Involuntary Termination as to the number that would vest over the nine (9) month period following the date of the Involuntary Termination.

This summary of the Daniels Employment Agreement is qualified in its entirety by reference to the full text of the Daniels Employment Agreement, which is included as Exhibit 10.1 hereto and incorporated herein by reference.

There are no arrangements or understandings between Dr. Daniels and any other person pursuant to which he was selected as an officer, and there are no family relationships between Dr. Daniels and any of the Company’s directors or executive officers. Dr. Daniels has no direct or indirect material interest in any existing or currently proposed transaction that would require disclosure under Item 404(a) of Regulation S-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit
Number

Description

10.1

Daniels Employment Agreement, effective April 20, 2026


 

 

 

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.

 

 

 

PLUS THERAPEUTICS, INC.

 

 

 

 

Date:

April 9, 2026

By:

/s/ Marc H. Hedrick, M.D.

 

 

 

Marc H. Hedrick, M.D.
President and Chief Executive Officer

 

 

Source: View Original Filing on SEC EDGAR

FAQ

What executive change did Plus Therapeutics (PSTV) announce in this 8-K?

Plus Therapeutics appointed Dr. Eric J. Daniels as Chief Development Officer, effective April 20, 2026. He will lead development and potential approval of the company’s pharmaceutical pipeline, bringing prior leadership experience from Kiora Pharmaceuticals and several other biotechnology and medical technology companies.

What is Dr. Eric Daniels’ compensation as CDO of Plus Therapeutics (PSTV)?

Dr. Daniels will receive a $460,000 initial annual base salary and an annual target bonus equal to 40% of that salary. He is also eligible to participate in the company’s benefit and compensation plans provided to similarly situated executives at Plus Therapeutics.

What equity awards will Dr. Eric Daniels receive from Plus Therapeutics (PSTV)?

Dr. Daniels will be granted options to purchase 20,000 shares of common stock at fair market value on the grant date, vesting monthly over four years with a one-year cliff. He will also receive 20,000 restricted stock units vesting quarterly over three years, also with a one-year cliff.

What severance is Dr. Eric Daniels entitled to if his role at Plus Therapeutics ends?

If Dr. Daniels experiences an Involuntary Termination, he will receive cash severance equal to 12 months of base salary, his target bonus for that year, any unpaid prior-year bonus, and 12 months of COBRA premiums, plus partial acceleration of unvested stock options and RSUs covering nine months of additional vesting.

How does Plus Therapeutics (PSTV) handle vesting if Dr. Daniels is terminated without cause?

If Dr. Daniels is terminated without cause or resigns for good reason, unvested stock options and restricted stock units will automatically accelerate as to the portion that would have vested during the nine months following the termination date, providing additional equity protection alongside his cash severance benefits.

Filing Exhibits & Attachments

2 documents

Agreements & Contracts

Other Documents