MBX Biosciences names Steven Hoerter CEO as Kent Hawryluk departs

MBX Biosciences disclosed in a Form 8-K dated July 9, 2026 that Kent P. Hawryluk will step away from his role as Chief Executive Officer and leave the Board effective July 13, 2026¹. The company said his departure is not due to a dispute or disagreement with the company or its auditors¹.

Under a consulting arrangement, Hawryluk will help the Board and the incoming CEO with the transition and provide strategic advisory services through August 16, 2026¹. His separation terms include 12 months of base salary severance, up to 12 months of company-paid COBRA coverage, a cash bonus equal to his target annual bonus, and accelerated vesting of time-based equity awards through August 16, 2027¹. The company also agreed to extend the post-termination exercise window on his vested stock options from the standard 90 days to July 13, 2027¹.

The Board named Steven Hoerter, currently the company's executive Chairman, as President and Chief Executive Officer, effective July 13, 2026¹. His new employment agreement sets a base salary of $665,000 and a target annual bonus of 60% of base salary¹, plus equity grants of stock options to purchase 331,000 shares and a restricted stock unit award covering 71,000 shares¹ on August 3, 2026.

Separately, the Board promoted John Smither, the company's interim Chief Financial Officer, to permanent CFO effective July 13, 2026¹. His terms include a base salary of $530,000, a target bonus of 40% of base salary, and a one-time $150,000 relocation bonus paid in two installments¹, along with options for 130,000 shares and an RSU award covering 28,000 shares¹.