LENZ Therapeutics, Inc. filed a Form 8-K with the SEC on October 28, 2026, disclosing a strategic reorganization that includes a headcount reduction of approximately 75%, the upcoming departure of President and CEO Evert Schimmelpennink, and third-quarter 2026 financial results.

Key Highlights

  • Headcount reduction: The board approved a reorganization that will decrease the company's workforce by approximately 75%, to approximately 40 full-time employees.
  • Estimated charges: The company estimates approximately $5 million in non-recurring charges, primarily severance payments and related termination benefits, expected substantially in the fourth quarter of 2026.
  • CEO transition: Evert Schimmelpennink will step down as President and CEO effective December 1, 2026, with Chief Financial Officer Daniel Chevallard succeeding him as Interim President and CEO.
  • Board size reduction: The board approved a decrease in its size to five directors, effective December 1, 2026, coinciding with Mr. Schimmelpennink's board resignation.
  • Separation payment: Under a Separation Agreement dated October 28, 2026, Mr. Schimmelpennink is eligible to receive a lump-sum cash payment of $731,400, equal to 12 months of his base salary, plus a lump-sum bonus payment of $309,016.50 for 2026.
  • Reorganization purpose: According to the filing, the reorganization is intended "to prioritize consumer marketing, allocate capital to maximize sales growth, and reduce operating expenses."

LENZ Therapeutics Reorganization and Leadership Change Details

LENZ Therapeutics, Inc. (NASDAQ:LENZ) disclosed on October 28, 2026, that its board of directors approved a strategic reorganization that will reduce the company's headcount by approximately 75%, leaving approximately 40 full-time employees. The company estimates it will incur approximately $5 million in non-recurring charges, primarily consisting of severance payments and related termination benefits, with substantially all charges expected in the fourth quarter of 2026. The filing noted that actual costs may differ from estimates and that additional costs not currently contemplated may arise.

Concurrent with the reorganization announcement, the company disclosed that Evert Schimmelpennink, President and CEO, will transition out of those roles effective December 1, 2026. Daniel Chevallard, the company's current Chief Financial Officer, will assume the role of Interim President and CEO on that date. Mr. Schimmelpennink will also resign from the board of directors as of December 1, 2026, and will continue as a full-time employee through December 31, 2026, serving as Strategic Advisor to the CEO during that period. The filing stated that his resignation "was not the result of any dispute or disagreement between the Company and Mr. Schimmelpennink on any matter relating to the operations, policies, or practices of the Company."

Under the Separation Agreement approved by the Compensation Committee and dated October 28, 2026, Mr. Schimmelpennink will continue to receive his current annual base salary of $731,400 through the Separation Date, with equity awards continuing to vest. Subject to specified conditions including execution of a release of claims, he will receive a $731,400 lump-sum cash payment, a $309,016.50 lump-sum bonus payment reflecting 65% of his base salary multiplied by 65% corporate goal achievement, and up to 12 months of COBRA premium payments. The filing noted that Mr. Schimmelpennink's separation will not constitute a "Qualified Termination" under the company's Executive Change in Control and Severance Policy. Vesting of unvested equity awards will cease on the Separation Date, with no accelerated vesting provided under the Separation Agreement. The company also disclosed that it issued a press release on October 28, 2026, announcing financial results for the quarter ended September 30, 2026.

What Was Disclosed

LENZ Therapeutics filed an 8-K on October 28, 2026, covering a board-approved reorganization with an approximately 75% headcount reduction, estimated $5 million in related charges, the planned CEO transition to Daniel Chevallard on December 1, 2026, and the terms of the separation agreement with outgoing CEO Evert Schimmelpennink.