Business context and reporting period
Achieve Life Sciences, Inc. filed this Form 8-K on October 1, 2026, reporting executive changes effective October 5, 2026. The filing does not report operating or period-end financial results.
Key financial and compensation details
- Incoming CFO Benjamin Halladay’s annual base salary is $525,000, with eligibility for a discretionary annual bonus of up to 40% of base salary.
- His equity awards comprise options for up to 200,000 common shares and 200,000 restricted stock units. Both awards have first-year cliff vesting, followed by periodic vesting as described in the filing.
- Subject to release requirements, specified termination events may entitle Halladay to cash severance equal to nine months of base salary, or 12 months plus a prorated target bonus in qualifying change-in-control circumstances. Change-in-control circumstances also provide for accelerated vesting of unvested awards.
- Mark Oki is entitled to severance under his December 5, 2024 Executive Employment Agreement; the amount is not stated in this filing.
Material changes and management commentary
The Board appointed Halladay as CFO and principal financial officer, replacing Oki, who stepped down effective October 5. The company stated that Oki’s departure was not related to any disagreement over the company’s financial statements or disclosures. Halladay previously served as CFO of Esperion Therapeutics from November 2022 through September 2026 and is a CPA.
Guidance, risks and unusual items
The filing provides no financial guidance, liquidity or debt information, or discussion of business risks or contingencies. The full text of Halladay’s offer letter and change-in-control and severance agreement is to be filed as exhibits to the company’s Form 10-Q for the quarter ended September 30, 2026.
Important facts for investors to verify
- Review the employment agreements when filed for complete compensation, vesting, and severance terms.
- Confirm the terms and amount of Oki’s severance in the referenced 2024 agreement or subsequent disclosures.
- Monitor subsequent filings for any further CFO transition details or financial updates.