Key Highlights

• Cadrenal Therapeutics (NASDAQ: CVKD) appoints John P. Sharp as interim CFO at a flat rate of $455 per hour.

• The company realigns its board classes, with Dr. Glynn Wilson transitioning from Class I to Class III director.

• Non-employee directors will receive an annual fee of $35,000, effective December 31, 2026.

Leadership Change

Cadrenal Therapeutics (NASDAQ: CVKD) has appointed John P. Sharp as its interim Chief Financial Officer, effective June 25, 2026. Sharp’s background includes senior financial roles in the biopharmaceutical sector, where he has supported companies through critical growth phases.

His appointment reflects Cadrenal’s focus on enhancing financial oversight during a period of strategic development.

Interim CFO Details

Under the terms of his engagement, Sharp will bill the company at a flat rate of $455 per hour, with a weekly cap of 24 hours. Any work beyond this limit will require prior written approval from Cadrenal. The agreement is formalized in the Master Services Agreement with Lohman & Associates, a firm specializing in executive financial placements for life sciences companies.

Board Realignment

The company has adjusted its board structure by reclassifying Dr. Glynn Wilson from a Class I to a Class III director. This move aligns with Cadrenal’s goal of balancing board representation across its three director classes.

Wilson remains an active member of key governance committees, contributing to oversight and strategic decision-making.

Compensation Package

Non-employee directors, including Dr. Wilson, will receive an annual fee of $35,000, effective December 31, 2026. This compensation aligns with industry standards for biopharmaceutical companies of similar size and development stage, reflecting the time and expertise required for effective board participation.

Regulatory Filings

Cadrenal has submitted the necessary regulatory disclosures, including copies of which are attached hereto as Exhibits 10.1 and 10.2. These documents provide transparency on the interim CFO appointment and board realignment, ensuring compliance with NASDAQ listing requirements and SEC reporting obligations.

Governance Structure

Cadrenal’s governance framework emphasizes independence and experience, with a board structured to support long-term value creation. The recent realignment of director classes is part of an ongoing effort to maintain balanced representation and effective oversight. The appointment of an interim CFO further strengthens the company’s financial leadership during this transitional phase.

Financial Management

Effective financial management is a priority for Cadrenal as it advances its clinical programs and operational initiatives. Sharp’s role will focus on supporting financial planning, budgeting, and reporting processes, ensuring alignment with the company’s strategic objectives. His engagement is structured to provide flexibility while maintaining cost control, a key consideration for emerging biopharmaceutical firms.

 

This article is for informational purposes only and does not constitute financial advice. Please consult a licensed financial adviser before making investment decisions.