false
0001812173
0001812173
2025-07-30
2025-07-30
0001812173
RBOT:ClassCommonStockParValue0.0001PerShareMember
2025-07-30
2025-07-30
0001812173
RBOT:WarrantsToPurchaseOneShareOfClassCommonStockEachAtExercisePriceOf11.50PerShareMember
2025-07-30
2025-07-30
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
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): July
30, 2025
VICARIOUS SURGICAL INC.
(Exact name of registrant as specified in its charter)
Delaware |
|
001-39384 |
|
87-2678169 |
(State or other jurisdiction
of incorporation) |
|
(Commission File Number) |
|
(IRS Employer
Identification No.) |
78 Fourth Avenue |
|
|
Waltham, Massachusetts |
|
02451 |
(Address of principal executive offices) |
|
(Zip Code) |
Registrant’s telephone number,
including area code: (617) 868-1700
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 |
Class A common stock, par value $0.0001 per share |
|
RBOT |
|
The New York Stock Exchange |
Warrants to purchase one share of Class A common stock, each at an exercise price of $11.50 per share |
|
RBOT WS |
|
The New York Stock Exchange |
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 Chief
Executive Officer and Director
On July 30, 2025, the
Board of Directors (the “Board”) of Vicarious Surgical Inc. (the “Company”) appointed Stephen From as Chief Executive
Officer of the Company, effective as of August 7, 2025 (the “Effective Date”). The Board also approved an increase to the
size of the Board and the appointment of Mr. From to the Board to fill the resulting vacancy, in each case effective as of the Effective
Date and subject to the commencement of Mr. From’s employment on that date.
Mr. From, age 62, has
served as Chief Executive Officer of Aruna Bio from April 2022 through the present, guiding the company’s strategic direction and
clinical advancement of its proprietary neural exosome platform. From October 2005 through February 2021, Mr. From served as President
and Chief Executive Officer, and from February 2021 through January 2022 served as Executive Chairman, of Kiora Pharmaceuticals, Inc.,
formerly known as EyeGate Pharmaceuticals, Inc., leading the company through its initial public offering and multiple acquisitions and
licensing transactions in the ophthalmic therapeutics space. Prior to EyeGate, Mr. From served as the Chief Financial Officer of Centelion
SAS, then a biotech subsidiary of Sanofi-Aventis, and spent several years in investment banking, focusing on the life sciences sector
at Bank of America Securities and Robertson Stephens. Mr. From holds a Bachelor of Science from the University of Western Ontario and
earned his accounting designation from Wilfrid Laurier University.
There are no arrangements
or understandings between Mr. From and any other person pursuant to which he was appointed to serve as Chief Executive Officer of the
Company. There are no family relationships between Mr. From and any director or executive officer of the Company, and Mr. From does not
have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Appointment of President
Also on July 30, 2025,
the Board appointed Adam Sachs, the Company’s current Chief Executive Officer, as President of the Company, effective as of the
Effective Date. Biographical and other information about Mr. Sachs is included in the Company’s definitive proxy statement
on Schedule 14A filed with the Securities and Exchange Commission on April 29, 2025, and is hereby incorporated by reference.
There are no arrangements
or understandings between Mr. Sachs and any other person pursuant to which he was appointed to serve as President of the Company. There
are also no family relationships between Mr. Sachs and any director or executive officer of the Company, and Mr. Sachs does not have a
direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Employment Agreement
In connection with Mr.
From’s appointment as Chief Executive Officer, on July 30, 2025, the Company entered into an Executive Employment Agreement (the
“Employment Agreement”) with Mr. From. Pursuant to the Employment Agreement, Mr. From will serve as the Company’s Chief
Executive Officer and report directly to the Board or its designee. Mr. From’s service pursuant to the Employment Agreement
will continue until terminated in accordance with its terms.
Under the Employment
Agreement, Mr. From will receive an annual base salary of $500,000, and will be eligible to receive an annual performance bonus targeted
at 50% of Mr. From’s then-current annual base salary. The actual amount of any bonus will be determined by reference to the
attainment of applicable Company and/or individual performance objectives, as determined by the Board. Pursuant to the Employment Agreement,
Mr. From is also eligible to participate in customary welfare and fringe benefit plans, provided by the Company to its employees
at the same level as Mr. From.
The Employment Agreement
provides that, subject to the approval of the Board and the Compensation Committee of the Board, the Company will grant to Mr. From a
non-qualified stock option (the “Option”) exercisable for up to 297,600 shares of the Company’s Class A common stock.
Twenty-five percent of the Option will vest on the one-year anniversary of its grant date and the remainder will vest in 36 consecutive,
equal monthly installments, subject to Mr. From’s continued service to the Company through each vesting date. The Option will be
granted as a material inducement to Mr. From entering into employment with the Company pursuant to Section 303A.08 of the New York Stock
Exchange Listed Company Manual. Consequently, the Option will be made outside of the Company’s 2021 Equity Incentive Plan, as amended
(the “Plan”), but will be subject to terms and conditions generally consistent with those in the Plan.
In the event that Mr. From
is terminated without Cause or resigns from his position for Good Reason, as such terms are defined in the Employment Agreement, he will,
subject to execution of a separation agreement in a form acceptable to the Company, be entitled to receive a severance payment in the
form of salary continuation payments for twelve months of his base salary.
The Company will reimburse
Mr. From for all ordinary and reasonable out-of-pocket business expenses incurred by Mr. From in furtherance of the Company’s
business in accordance with the Company’s policies with respect thereto as in effect from time to time. Mr. From will also
be subject to the Company’s Non-Competition and Non-Solicitation Agreement and Invention and Non-Disclosure Agreement, which impose
certain post-employment restrictive covenants.
The foregoing description
of the Employment Agreement is a summary and does not purport to be complete. Such description is qualified in its entirety by reference
to the text of the Employment Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated herein
by reference.
Item 7.01. Regulation FD Disclosure.
On July 31, 2025, the
Company issued a press release announcing the appointment of Mr. From as Chief Executive Officer and Mr. Sachs as President. A copy of
the press release is furnished as Exhibit 99.1 hereto.
The information in this
Current Report on Form 8-K, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities
of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange
Act, except as expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
|
Description |
10.1 |
|
Executive Employment Agreement, dated as of July 30, 2025, between Vicarious Surgical Inc. and Stephen From |
99.1 |
|
Press Release dated July 31, 2025 |
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.
|
VICARIOUS SURGICAL INC. |
|
|
|
|
By: |
/s/ Adam Sachs |
|
Name: |
Adam Sachs |
|
Title: |
Chief Executive Officer |
Date: July 31, 2025
3