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    HCYT   US4041241096

H-CYTE, INC.

(HCYT)
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H-CYTE, INC. : Entry into a Material Definitive Agreement, Change in Directors or Principal Officers, Regulation FD Disclosure, Financial Statements and Exhibits (form 8-K)

09/30/2020 | 06:02am EDT

Item 1.01 Entry into a Material Definitive Agreement

On September 28, 2020, H-Cyte, Inc. (the "Company") entered into an employment agreement with Robert Greif to act as Chief Executive Officer and President of the Company (the "Employment Agreement"). The Employment Agreement is for an initial one year term and provides that Mr. Greif will receive an annual salary of $400,000 per year. In addition, Mr. Greif shall be entitled to a $30,000 signing bonus upon execution and and shall be entitled to a bonus of $50,000 at the end of year one. If the Employment Agreement continues for additional years, he will be entitled to an annual bonus of up to 50% of his annual salary based on the achievement of certain performance objectives and other discretionary factors to be determined by the Board. In addition, Mr. Greif will be entitled to receive options to purchase common stock of the Company equal to 3% of the Company's outstanding equity under the Company's stock incentive plan. The Company and Mr. Greif expect to negotiate the terms of such option grant over the next 90 days. The Employment Agreement contains customary non-compete and non-solicitation provisions. The foregoing summary description of the Employment Agreement is subject to the terms of the actual Employment Agreement which is attached as Exhibit 10.1 hereto and is incorporated herein in its entirety.

Item 5.02 Departure of Directors or Certain Officers; Election of directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On September 28, 2020, the Company appointed Mr. Greif as its Chief Executive officer and President. See disclosure in Item 1.01 with respect to the terms of Mr. Greif's employment. Below is a biography of Mr. Greif.

Mr. Greif is 55 years old. Prior to joining the Company, Mr. Greif was the Chief Commercial Officer and business development Leader at Axos Bio, Inc. from February 2019 to November 2019. At Axos, Mr. Greif built the north American commercial organization in preparation for the launch of a fist-in-class immunomodulatory. Prior to joining Atox, Mr. Greif led the commercial operations of rEvo Biologics, Inc., an orphan disease biotechnology company from May 2011 to February 2019. He also held a variety of business unit and commercial leadership roles at United health Group Incorporated, Boehringer Ingelheim Group and Sanofi SA. The Company believes that Mr. Greif's strong track record leading high-growth pharmaceutical and biotech businesses makes him qualified to serve in his role with the Company.

On September 29, 2020, Ann Miller resigned as the Company's Chief Operating Officer.

On September 29, 2020, Mr. William Horne resigned as the Company's Chief Executive Officer and President.

Item 7.01 Regulation FD disclosure.

On September 29, 2020, the Company issued a press release disclosing the new employment agreement and the departure of Ms. Miller and Mr. Horne. A copy of the press release is attached as Exhibit 99.1.

Item 9.01 Financial Statements and Exhibits



(d) Exhibits.



Exhibit Number   Description

10.1               Employment Agreement dated September 28, 2020 by and between
                 the Company and Robert Greif
99.1               Press Release dated September 29, 2020.

© Edgar Online, source Glimpses

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Financials (USD)
Sales 2020 2,15 M - -
Net income 2020 -6,46 M - -
Net cash 2020 0,47 M - -
P/E ratio 2020 -0,27x
Yield 2020 -
Capitalization 5,17 M 5,17 M -
EV / Sales 2019 1,72x
EV / Sales 2020 0,75x
Nbr of Employees -
Free-Float 18,9%
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Managers and Directors
NameTitle
Robert Greif President & Chief Executive Officer
Jeremy Daniel Chief Financial & Accounting Officer
Raymond Monteleone Chairman
Tanya Rhodes Chief Technology Officer
William E. Horne Director
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