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Get filing alertsNakamoto CMO and director Tim Pickett resigns, receives $911K severance and equity acceleration
Filed August 4, 2026 · Period ending August 3, 2026 · ~1 min read
Key Changes
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Chief Medical Officer and board member Tim Pickett resigned from all positions effective August 3, 2026, including his role as CEO of subsidiary Kindly LLC. The filing states his departure was not due to any disagreement on financial reporting, operations, or company practices.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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Pickett will receive a one-time severance payment of $911,468.58 (gross) and immediate vesting of all unvested equity awards under the company's 2022 and 2025 equity incentive plans. The value and number of accelerated shares were not disclosed.
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation verify on EDGAR → -
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The separation agreement releases Pickett from non-compete and non-solicitation restrictions, allowing him to compete with Nakamoto and solicit its employees or customers immediately upon the agreement's effective date.
Item 5.02 — Departure of Directors or Certain Officers; Compensation verify on EDGAR →
Summary
Nakamoto Inc. disclosed the resignation of Tim Pickett, who served simultaneously as Chief Medical Officer, board director, and CEO of subsidiary Kindly LLC. His departure removes a senior executive with both operational and governance responsibilities. The company emphasized the resignation was not due to any disagreement on financial reporting, operations, policies, or practices.
The separation package includes $911,468.58 in cash severance, acceleration of all unvested equity awards, and a release from non-compete and non-solicitation covenants. The non-compete release is notable: Pickett can immediately compete with Nakamoto and recruit its personnel once the separation agreement becomes effective.Investors should watch for announcements regarding succession plans for the CMO position and the Kindly LLC CEO role, as well as any board reconstitution.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation filed; see Key Changes for terms.
Added in current filing · verify on EDGAR →
Subject to Mr. Pickett’s execution and non-revocation of the Separation Agreement, the Company agreed to pay Mr. Pickett a separation payment in the gross amount of $911,468.58, less applicable tax withholdings and other lawful deductions, payable in a single installment on or during the first scheduled Company pay cycle occurring after the date that is one week following the Separation Agreement Effective Date
The company will pay Pickett a one-time severance payment of $911,468.58 (gross, before withholdings) approximately $911,468.58 one week after the separation agreement becomes effective. The agreement has a 21-day consideration period and 7-day revocation period before becoming effective.
Added in current filing · verify on EDGAR →
the Company agreed to accelerate all unvested portions of Mr. Pickett’s outstanding equity awards under the Company’s 2022 Equity Incentive Plan and the Company’s 2025 Equity Incentive Plan
All of Pickett's unvested equity awards under both the 2022 and 2025 Equity Incentive Plans will be accelerated and vest immediately as part of the separation agreement. The filing does not disclose the value or number of shares involved.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
include Mr. Pickett as a covered insured under its directors’ and officers’ liability insurance coverage for six years following the effective date of the Separation Agreement on the same terms and conditions as for the Company’s other officers and directors, and provide medical professional liability coverage for Mr. Pickett for four years following such date on the same terms and subject to the same limitations as during his employment
The company will maintain directors and officers liability insurance coverage for Pickett for six years post-separation and medical professional liability coverage for four years, both on the same terms as during his employment.
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Figures/quotes linked to EDGAR · Narrative written by AI · Aug 5, 2026 · How we verify