03/04/2026 | Press release | Distributed by Public on 03/04/2026 16:15
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 27, 2026, InspireMD, Inc. (the "Company") provided a notice of dismissal to Andrea Tommasoli, the Company's Chief Operating Officer.
Mr. Tommasoli is employed by InspireMD Ltd., a wholly owned subsidiary of the Company, pursuant to an Employment Contract, dated November 2, 2020, governed by French law (the "Employment Agreement"). The termination of Mr. Tommasoli's employment is subject to a six-month notice period for dismissal under the Employment Agreement, as well as compliance with applicable French labor laws. Mr. Tommasoli has been released from his duties effective April 1, 2026, but will continue to receive his base salary through the end of the notice period and will continue to receive health and provident benefits under applicable French Law for a maximum of 12 months. Mr. Tommasoli will also be entitled to severance pay in the amount of approximately €61,000 gross and total cost plus the balance of any accrued and untaken paid leave.
Subject to compliance with applicable French law, Mr. Tommasoli's last day of employment with the Company is expected to be September 1, 2026.