Neuronetics (NASDAQ: STIM) sets new monthly pay for interim finance chief
Rhea-AI Filing Summary
Neuronetics, Inc. reported that it has updated the consulting arrangement with Francis X. Brown III, who serves as its Interim Principal Financial and Accounting Officer. Mr. Brown was previously engaged under an agreement dated April 22, 2026 and began serving as Interim PAO on May 5, 2026.
Under the new Amended and Restated Consulting Agreement dated May 18, 2026, his role is clarified to include ongoing service as Interim PAO until the company hires a full-time controller and a full-time principal financial and accounting officer or another written end date is agreed. His compensation is now set at $26,000 per month, replacing the earlier $25,000 fee for his interim services.
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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, and exhibit attachments filed with this report.
Key Figures
Initial Interim PAO fee: $25,000
Revised monthly compensation: $26,000 per month
Interim PAO effective date: May 5, 2026
+2 more
5 metrics
Initial Interim PAO fee
$25,000
Compensation for services as Interim Principal Financial and Accounting Officer
Revised monthly compensation
$26,000 per month
Under Amended and Restated Consulting Agreement dated May 18, 2026
Interim PAO effective date
May 5, 2026
Start of service as Interim Principal Financial and Accounting Officer
Original consulting agreement date
April 22, 2026
Date of initial Interim PAO Consulting Agreement
Amended agreement date
May 18, 2026
Date of Amended and Restated Consulting Agreement
Key Terms
Interim Principal Financial and Accounting Officer, Amended and Restated Consulting Agreement, Emerging growth company, Inline XBRL
4 terms
Interim Principal Financial and Accounting Officer financial
"appointed Francis X. Brown III as the Company’s Interim Principal Financial and Accounting Officer"
Amended and Restated Consulting Agreement financial
"agreed to an Amended and Restated Consulting Agreement to clarify that Mr. Brown’s services include"
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.
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.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What executive role does Neuronetics (STIM) highlight in this 8-K?
Neuronetics highlights Francis X. Brown III’s role as Interim Principal Financial and Accounting Officer. The filing clarifies his ongoing responsibilities in this interim capacity until the company hires a full-time controller and a full-time principal financial and accounting officer or another date is agreed.
How is Francis X. Brown III compensated as Neuronetics’ Interim PAO?
Under the amended consulting agreement, Francis X. Brown III receives $26,000 per month. This replaces an earlier $25,000 payment for his interim services, moving from a fixed amount and hourly rate structure to a defined monthly compensation for his continued interim finance leadership.
When did Francis X. Brown III begin serving as Neuronetics’ Interim PAO?
Francis X. Brown III began serving as Neuronetics’ Interim Principal Financial and Accounting Officer effective May 5, 2026. His service initially relied on an April 22, 2026 consulting agreement, which has since been amended and restated to clarify duties and revise his compensation structure.
What does the amended consulting agreement at Neuronetics (STIM) change?
The amended consulting agreement clarifies that Francis X. Brown III will continue as Interim PAO until specific full-time hires are made or another date is agreed. It also changes his compensation to $26,000 per month instead of a fixed hourly rate and prior lump-sum payment.
How long is Neuronetics’ Interim PAO expected to serve under the new terms?
The filing states that Francis X. Brown III will serve as Interim PAO until Neuronetics employs a full-time controller and a full-time principal financial and accounting officer, or until another date is agreed in writing, giving the company flexibility around the interim leadership timeline.