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Get filing alertsNeuronetics changes interim finance chief compensation to $26K/month flat fee
Filed May 22, 2026 · Period ending May 18, 2026 · ~1 min read
Key Changes
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Interim Principal Accounting Officer Francis X. Brown III will now receive $26,000 per month instead of hourly billing, effective May 18, 2026. His role continues until the company hires permanent full-time controller and CFO positions.
Item 5.02 verify on EDGAR → -
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The amended agreement clarifies Brown's interim status and replaces the prior hourly rate structure established just one month earlier on April 22, 2026, when he received a one-time $25,000 payment.
8-K: Consulting Agreement verify on EDGAR →
Summary
Neuronetics restructured its compensation arrangement with Francis X. Brown III, who has been serving as Interim Principal Accounting Officer. The company moved from an hourly billing model to a fixed monthly fee of $26,000, providing more predictable costs while the search continues for permanent finance leadership.
The amendment also formalizes that Brown's interim role extends until both a full-time controller and a full-time principal financial officer are in place. For retail investors, this signals the company is still working to fill critical finance positions permanently, roughly one month after initially engaging Brown. The shift to monthly compensation suggests the search may take longer than initially anticipated. Watch for announcements of permanent hires to these key financial roles, which would indicate stability in the finance function and potentially mark the end of interim arrangements.
Section-by-Section Diff
Event · Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Compensation
Neuronetics amended consulting agreement with Interim PAO Francis X. Brown III, changing compensation to $26,000/month from fixed hourly rate.
Added in current filing · verify on EDGAR →
On May 18, 2026, the Company and Mr. Brown agreed to an Amended and Restated Consulting Agreement to: (i) clarify that Mr. Brown’s services include ongoing service as the Interim PAO until the Company employs a full-time controller and a full-time principal financial and accounting officer or any other date agreed in writing by the parties; and (ii) provide for compensation of $26,000 per month in lieu of the fixed hourly rate.
The company amended its consulting agreement with Francis X. Brown III, who serves as Interim Principal Financial and Accounting Officer. The amendment clarifies his service continues until a full-time controller and principal financial officer are hired, and changes his compensation structure from a fixed hourly rate to a flat monthly fee of $26,000. Previously, Mr. Brown received a one-time payment of $25,000 under the prior agreement dated April 22, 2026.
Event · Item 9.01 — Financial Statements and Exhibits
Neuronetics filed an amended consulting agreement with Francis X. Brown III, effective May 18, 2026.
Show 1 minor / wording change
Added in current filing · verify on EDGAR →
Amended and Restated Consulting Agreement by and between the Company and Francis X. Brown III dated May 18, 2026
The company entered into an amended and restated consulting agreement with Francis X. Brown III on May 18, 2026. The 8-K does not disclose the terms, compensation, or scope of the consulting arrangement, only that the agreement was amended and restated.
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Figures/quotes linked to EDGAR · Narrative written by AI · May 25, 2026 · How we verify