SurgePays, Inc. (SURG) - Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by SurgePays, Inc. on January 7, 2026, covering events occurring between January 1, 2026, and January 5, 2026. The filing addresses significant changes in executive leadership and board composition.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data disclosed relates to a specific executive separation agreement:
- Separation Compensation: $250,000 total fee for consulting services.
- Payment Structure: 12 equal monthly installments of $20,833.33.
- Additional Benefits: Reimbursement of health insurance premiums under COBRA through December 31, 2026.
Material Changes
The filing reports the following material changes in corporate governance and personnel:
- Departure of CFO: Anthony Evers' employment as Chief Financial Officer ended on December 31, 2025, following a non-renewal of his agreement.
- Consulting Transition: Mr. Evers will provide consulting services regarding finances, accounting, and SEC filings (10-K, 10-Q) from January 1, 2026, through June 30, 2026, to assist in transitioning duties to a new or interim CFO.
- Board Resignation: Richard Schurfeld resigned as a Director and from all committee appointments effective January 2, 2026, citing personal reasons unrelated to any disagreement with management.
- Committee Appointments: On January 5, 2026, Director David May was appointed to the Audit, Compensation, and Nominating and Corporate Governance Committees to fill vacancies left by Mr. Schurfeld. Mr. May was also named Chair of the Nominating and Corporate Governance Committee.
Outlook, Risks, and Contingencies
The filing does not contain updated financial guidance or a general outlook for the company. The primary contingency noted is the transition of the Chief Financial Officer role, which is being managed through a six-month consulting arrangement with the departing CFO. The separation agreement includes standard non-disclosure and non-disparagement provisions, and Mr. Evers has released the company from claims related to his employment.
Key Facts for Investor Verification
- Verify the appointment date and identity of the new or interim Chief Financial Officer to replace Anthony Evers.
- Confirm the status of the company's upcoming Form 10-K and 10-Q filings given the CFO transition.
- Review the full text of the Separation Agreement (Exhibit 10.1) for specific terms regarding the release of claims and consulting scope.
- Monitor future filings for the appointment of a new director to replace Richard Schurfeld on the Board.