Item 5.02 Departure of Directors or Certain Officers; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers
On June 9, 2021, David Wells notified ENDRA Life Sciences Inc. ("ENDRA" or the
"Company") of his resignation as the Company's Chief Financial Officer,
effective June 18, 2021. Mr. Wells' resignation is not in connection with any
disagreement relating to the Company's operations, policies, or practices. Mr.
Wells may provide consulting services to the Company after his departure date,
as desired and agreed to between Mr. Wells and Company management, in order to
assist with the transitional matters.
On June 11, 2021, the Company's Board of Directors appointed Irina Pestrikova as
Senior Director, Finance, effective upon Mr. Wells' resignation. Ms. Pestrikova
will serve as the Company's principal financial officer in such role.
Ms. Pestrikova, age 35, has been the Director of Operations of Wells Compliance
Group, a technology-based services firm supporting the financial reporting needs
of small-cap, privately held, and publicly traded companies, of which Mr. Wells
is the founder, since 2014. In her role as Director of Operations, Ms.
Pestrikova has provided accounting and bookkeeping services to a number of
public companies, including ENDRA. Ms. Pestrikova has also been the Director of
Finance & Operations of Atlas Bookkeeping, Inc., a provider of financial
reporting, modeling and analysis, since 2020. She holds an MBA in Finance from
Pepperdine University.
In connection with her appointment, Ms. Pestrikova will receive 75,000 stock
options vesting in three equal annual installments. She will receive an annual
salary of $160,000.
There are no family relationships between Ms. Pestrikova and any director or
executive officer of the Company, and she has no direct or indirect material
interest in any transaction required to be disclosed pursuant to Item 404(a) of
Regulation S-K.
The Company announced the appointment of Ms. Pestrikova on June 15, 2021 in a
press release, which is attached hereto as Exhibit 99.1 and is incorporated
herein by reference in its entirety.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
99.1 Press Release dated June 15, 2021, furnished herewith.
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ENDRA LIFE SCIENCES INC. 
