Firefly Neuroscience, Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by Firefly Neuroscience, Inc. (Nasdaq: AIFF) on September 14, 2026, covering events occurring on September 8, 2026. The filing addresses significant changes in executive leadership under Item 5.02.
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 changes and compensatory arrangements rather than financial performance results.
Material Changes
- Departure of CFO: Paul Krzywicki was terminated as Chief Financial Officer, effective September 24, 2026. The termination was not due to any disagreement regarding operations, policies, or practices.
- Appointment of Chief Accounting Officer: Jessica Paz was appointed as Chief Accounting Officer, effective September 8, 2026.
Compensatory Arrangements and Management Commentary
Ms. Paz's employment terms include:
- Base Salary: $215,000 annually.
- Equity Grant: Stock option to purchase 50,000 shares of common stock under the 2024 Long-Term Incentive Plan. The exercise price equals the fair market value on the grant date.
- Vesting Schedule: 25% vests on the first anniversary of the commencement date, with the remainder vesting in equal quarterly installments over the following twelve quarters, contingent on continued employment.
- Benefits: Eligible for standard employee benefits and flexible paid time off.
- Legal Protections: Ms. Paz received a standard indemnification agreement covering expenses and liabilities related to her service, including expense advances within 20 days of request. She also signed a confidentiality agreement with non-competition and non-solicitation provisions.
Ms. Paz previously served as Senior Director of Accounting and Operations at Genvid Holdings, Inc. (April 2020–August 2026) and holds advanced degrees from SUNY Polytechnic Institute and Hunter College.
Investor Verification Checklist
- Verify the status of the Chief Financial Officer role following Mr. Krzywicki's departure and whether an interim or permanent replacement has been identified.
- Review the full text of the employment and indemnification agreements (Exhibits 10.1, 10.2, and 10.3) for specific termination clauses or severance details not summarized in the filing.
- Monitor upcoming filings for the appointment of a new Chief Financial Officer to ensure continuity in financial reporting.
- Confirm the impact of the leadership transition on the company's audit timeline and financial statement release schedule.