Leadership shake-up at Exicure (NASDAQ: XCUR) as CEO, CFO and directors exit

Rhea-AI Filing Summary

Exicure, Inc. reported significant leadership and board changes. On February 6, 2026, three directors — Andy Yoo, Seung Ik Baik, and Aejin Hwang — resigned from the Board effective February 9, 2026, with the company stating there were no disagreements over operations or policies.

The Board simultaneously appointed Jung Kyu Ham, Jung Soo Kim, and Gyeung Seog Cheon as new directors, with staggered terms through the 2026, 2027, and 2028 annual meetings, and named Mr. Cheon to the audit committee. Each new director will receive a $20,000 annual retainer.

The Board also approved a one-time $20,000 cash payment to each of the two remaining directors, Dongho Lee and Sangjin Yeo, and to outgoing director Hwang. On the same date, Yoo resigned as Chief Executive Officer and President, and Baik resigned as Chief Financial Officer and Secretary, effective February 9, 2026. The Board has not yet appointed successors, and Baik received a $150,000 separation payment.

Positive

• None.

Negative

• Simultaneous CEO and CFO resignations without named successors, alongside multiple board departures, create leadership uncertainty that may be viewed as a materially negative governance development.

Insights

Corporate governance and executive transitions analyst

Exicure discloses simultaneous CEO, CFO, and board turnover without named successors.

Exicure is undergoing a rapid leadership reshuffle, with three directors, the CEO, and the CFO all resigning effective February 9, 2026. Three new directors are joining, including an audit committee appointee, while remaining directors receive one-time $20,000 payments.

The absence of immediately appointed successors for the Chief Executive Officer and Chief Financial Officer roles introduces leadership uncertainty. The filing states that the board positions will stay vacant until new officers are appointed, and that CFO Seung Ik Baik is receiving a $150,000 separation payment in connection with his resignation.

From an investor perspective, simultaneous top-executive departures and multiple board changes can be viewed as a material governance event. Future company communications identifying permanent CEO and CFO appointments, and any strategic changes under the reconstituted board, will be important for understanding the implications of this transition.

8-K Event Classification

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

1 item

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.

Understanding 8-K Material Events →

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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): February 6, 2026

____________________

Exicure, Inc.

(Exact Name of Registrant as Specified in its Charter)

____________________

Delaware			001-39011			81-5333008
(State or Other Jurisdiction of Incorporation)			(Commission File Number)			(IRS Employer Identification No.)

400 Seaport Court, Suite 102
Redwood City, CA						94063
(Address of Principal Executive Offices)						(Zip Code)

Registrant’s telephone number, including area code: (847) 673-1700

____________________

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:

o    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o    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 $0.0001 per share

XCUR

The Nasdaq Stock Market LLC

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

Resignation of Directors to the Board of Directors

On February 6, 2026, (i) Andy Yoo, (ii) Seung Ik Baik, and (iii) Aejin Hwang resigned from the Board of Directors (the “Board”) of Exicure, Inc. (the “Company”), effective February 9, 2026. The resignations of these three Board members did not result from any disagreement regarding any matter related to the operations, policies or practices of the Company.

Election of Directors to the Board of Directors

On February 6, 2026, the Board appointed (i) Jung Kyu Ham, (ii) Jung Soo Kim, and (iii) Gyeung Seog Cheon to the Board, effective February 9, 2026, to serve, until a successor has been duly elected and qualified or until an earlier death, resignation or removal, as directors of the Company. Messrs. Jung Kyu Ham, Jung Soo Kim and Gyeung Seog Cheon will serve as Class III, Class I, and Class II directors of the Company for a term expiring at the Company’s 2026, 2027, and 2028 annual meeting of stockholders, respectively. The Board also appointed Mr. Cheon to the audit committee of the Board.

For their services on the Board, the three newly appointed directors will receive an annual retainer of $20,000. The Company also intends to enter into an indemnification agreement with each of the three newly appointed directors in the same form as its standard form of indemnification agreement with its other directors and in the same form as previously filed with the Company’s Current Report on Form 8-K filed with the Securities and Exchange Commission on October 2, 2017.

Except as described above, the three newly appointed directors do not have any direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. There are no arrangements or understandings between any of the three newly appointed directors and any other person pursuant to which they were elected as a director.

The Board approved a one-time $20,000 cash payment to each of the two remaining Board members, Dongho Lee and Sangjin Yeo, and also to Aejin Hwang, an outgoing Board member.

Executive Management Change

On February 6, 2026, Andy Yoo resigned as Chief Executive Officer and President of the Company, and Seung Ik Baik resigned as Chief Financial Officer and Secretary of the Company, each effective February 9, 2026. The Board has not appointed successors to these positions at this time, and the positions will remain vacant until the Board appoints new officers. Mr. Baik received a $150,000 separation payment in connection with his resignation.

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.

Date: February 10, 2026			EXICURE, INC.
			(registrant)
			By:			/s/ Josh Miller
						Josh Miller
						Chief Accounting Officer

FAQ

What leadership changes did Exicure (XCUR) report in this 8-K?

Exicure reported the resignations of its CEO and CFO, Andy Yoo and Seung Ik Baik, effective February 9, 2026. Both also left the board, along with director Aejin Hwang, marking a broad change in senior leadership and board composition.

Who are the new directors appointed to Exicure (XCUR)'s board?

Exicure appointed three new directors: Jung Kyu Ham, Jung Soo Kim, and Gyeung Seog Cheon, effective February 9, 2026. They will serve as Class III, Class I, and Class II directors, with terms expiring at the 2026, 2027, and 2028 annual meetings, respectively.

Did Exicure (XCUR) explain why the directors resigned?

Exicure stated that the three resigning directors did not leave due to disagreements over operations, policies, or practices. The company specifically noted that their departures were not the result of any dispute about how Exicure is run or managed.

What compensation will Exicure’s new directors receive?

Each new Exicure director will receive a $20,000 annual retainer for board service. Additionally, the board approved a one-time $20,000 cash payment to remaining directors Dongho Lee and Sangjin Yeo, and to outgoing director Aejin Hwang.

What payment did Exicure (XCUR) make to its departing CFO?

Departing CFO and Secretary Seung Ik Baik received a $150,000 separation payment in connection with his resignation effective February 9, 2026. This payment accompanies his departure from both his executive role and the company’s board of directors.

Has Exicure (XCUR) named new CEO or CFO successors yet?

Exicure has not yet appointed successors to the CEO and CFO roles. The filing states that the positions of Chief Executive Officer, President, Chief Financial Officer, and Secretary will remain vacant until the board appoints new officers to fill those roles.

Filing Exhibits & Attachments

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