Business Context and Reporting Period
This Form 8-K Current Report was filed by Achieve Life Sciences, Inc. on May 29, 2026. The filing discloses corporate governance changes, specifically the appointment of new members to the Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on personnel appointments and associated compensation arrangements.
Material Changes
The primary material change reported is the appointment of two new directors effective May 29, 2026:
- Jeff Farrow: Appointed as a director. Assigned to the Nominating and Governance Committee (member) and the Audit Committee (Chair).
- Reid Waldman, M.D.: Appointed as a director. Assigned to the Commercial Committee (member) and the Compensation Committee (Chair).
Compensation and Governance Details
Under the Company's Non-Employee Director Compensation Program, the incoming directors will receive the following for the fiscal year ending December 31, 2026:
- Cash Retainer: A pro-rated portion of a $40,000 annual retainer.
- Committee Fees: Additional cash compensation for service on Board committees.
- Equity Grant: Stock options to purchase 47,250 shares of common stock each, vesting monthly over three years subject to continued service.
Standard indemnification agreements have been executed with both directors. No family relationships or undisclosed material interests exist between the new directors and existing management.
Investor Verification Checklist
- Verify the pro-rated cash retainer calculation based on the May 29, 2026 start date.
- Confirm the vesting schedule and exercise price of the 47,250 stock options granted to each director.
- Review the updated Board composition and committee assignments in subsequent filings.
- Check for any related party transaction disclosures regarding the new directors in future reports.