Cardiff Oncology, Inc. 8-K

What Happened
Cardiff Oncology, Inc. announced that longtime CEO Dr. Mark Erlander and CFO James Levine stepped down from their roles as part of a strategic review and, on March 27, 2026, each entered into separation agreements with the company. The company previously disclosed their departures on January 26, 2026. The agreements set out cash payments, benefit continuation, stock option treatment and, in Dr. Erlander’s case, a separate consulting arrangement.

Key Details

• Separation Date: March 27, 2026 (previously disclosed January 26, 2026).
• Dr. Mark Erlander: base salary of $635,000 to be paid over 12 months from the Separation Date; 2025 bonus of $122,238; 50% of his 2026 target bonus pro‑rated for 12 months; continued healthcare for up to 12 months; entered a consulting agreement; stock options continue vesting until June 2026, then vested options exercisable for 12 months.
• James Levine: base salary of $490,000 to be paid over 12 months from the Separation Date; 2025 bonus of $61,740; 50% of his 2026 target bonus pro‑rated for 12 months; continued healthcare for up to 12 months; vested stock options exercisable for 12 months after the Separation Date.
• Both executives agreed to a general release and confidentiality obligations under their separation agreements.

Why It Matters
These agreements clarify near‑term cash outflows and equity treatment related to the CEO and CFO departures—key governance and leadership changes investors watch closely. The disclosed cash severance, bonus payments and continued healthcare affect near‑term compensation expense and liquidity, while the consulting deal and option vesting/exercise windows affect potential ongoing involvement and equity dilution or insider exercise activity. Item 1.01 and Item 5.02 of the 8‑K document these material agreements and officer departures.