Cadrenal Therapeutics enters separation agreement with departing CMO Ferguson

Cadrenal Therapeutics, Inc. disclosed in a Form 8-K dated July 14, 2026 that it entered into a confidential separation agreement and general release, dated as of July 9, 2026, with James J. Ferguson III, the Company's Chief Medical Officer.¹ The filing notes that Dr. Ferguson had advised the Board on July 7, 2026 of his decision to resign as Chief Medical Officer, effective July 31, 2026, the Separation Date.¹ The company said it continues to conduct a search for Dr. Ferguson's replacement.¹

Under the terms described, Dr. Ferguson will receive payment of his current salary through the Separation Date, full company payment of COBRA premiums for himself and eligible dependents for six months after the Separation Date if he elects continued coverage, and reimbursement of approved unreimbursed business expenses, with COBRA payments ending early if he becomes eligible for new employer coverage or otherwise loses COBRA eligibility.¹

The filing specifies that the agreement is not yet binding: Dr. Ferguson may revoke the agreement within seven days of executing it, so it will not be effective or enforceable until that revocation period has expired, and the company's COBRA payment obligations will not begin until a second release is executed on the Separation Date and not revoked during a second seven-day period.¹ The agreement also contains a general release of claims against the company and its officers, directors, employees, and agents, along with a non-disparagement clause.¹

The full agreement text is attached as Exhibit 10.1 to the filing, which was signed on behalf of Cadrenal by Chairman and CEO Quang X. Pham as part of the 8-K report, dated July 17, 2026.