Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers;
Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(b) Resignation of Chief Financial Officer.
On August 24, 2026, Mr. Oren Attiya, 44, notified
Sadot Group Inc. (the “Company”) of his resignation from the position of Chief Financial Officer of the Company, and from
his designation as the Company’s principal financial officer and principal accounting officer, and from each other office and position
held by him with the Company and its subsidiaries, in each case effective as of August 23, 2026. Mr. Attiya provided the services of the
Company’s Chief Financial Officer through CO-Finance Financial and Accounting Consulting Ltd. (“CO-Finance”), of which
he is the sole shareholder, pursuant to the Consulting Agreement described in Item 5.02(e) below. The Board of Directors of the Company
(the “Board”) accepted Mr. Attiya’s resignation effective as of the same date.
(c) Appointment of Interim Chief Financial Officer.
On August 24, 2026, the Board appointed Haggai Ravid,
65, the Company’s Chief Executive Officer and a member of the Board, to serve as the Company’s Interim Chief Financial Officer,
and designated Mr. Ravid as the Company’s principal financial officer and principal accounting officer, in each case effective immediately
upon the effectiveness of Mr. Attiya’s resignation and until his successor is duly appointed and qualified or until his earlier
resignation or removal. Mr. Ravid will continue to serve as the Company’s Chief Executive Officer and principal executive officer.
The Board has commenced a search for a permanent Chief Financial Officer.
Mr. Ravid joined the Company as Chief Executive Officer
on May 28, 2025 and has served as a member of the Board since that time. Mr. Ravid has over three decades of experience in global finance,
investment banking and strategic advisory roles. From December 2022 to December 2024, Mr. Ravid served as the Chief Financial Officer
of Seamless Group Inc. (Nasdaq: CURR). From 2006 to 2022, Mr. Ravid served as the Chief Executive Officer of Cukierman & Company Investment
House Ltd., a cross-border advisory firm based in Israel. Earlier in his career, Mr. Ravid held executive and partnership roles at MBI
in Tel Aviv and Twin Triangle Financial in Los Angeles, and served as a loan officer and credit committee member at the Los Angeles office
of Bank Leumi. Mr. Ravid holds an M.B.A. from Rutgers University and a bachelor’s degree from the Hebrew University of Jerusalem.
Mr. Ravid will not receive any additional compensation
for his service as Interim Chief Financial Officer. No plan, contract, arrangement, grant or award, whether written or unwritten, was
entered into or materially amended in connection with his appointment.
Mr. Ravid is a director and a shareholder of Newton
Incorporation Limited, which has been engaged by the Company for investor relations purposes. Other than as described in this paragraph,
there are no transactions since the beginning of the Company’s last fiscal year, or currently proposed, to which the Company is
or was a participant and in which Mr. Ravid has or had a direct or indirect material interest that would be required to be disclosed pursuant
to Item 404(a) of Regulation S-K.
There is no family relationship between Mr. Ravid
and any director or executive officer of the Company, and there is no arrangement or understanding between Mr. Ravid and any other person
pursuant to which Mr. Ravid was appointed as Interim Chief Financial Officer.
(e) Termination and Mutual Release Agreement.
On August 24, 2026, the Company entered into a Termination
and Mutual Release Agreement (the “Separation Agreement”) with CO-Finance and Mr. Attiya. The Separation Agreement terminates,
effective as of August 23, 2026, the Consulting Agreement dated December 3, 2025 among the Company, CO-Finance and Mr. Attiya, pursuant
to which CO-Finance provided the services of Mr. Attiya as the Company’s Chief Financial Officer, and waives the ninety (90) day
notice period provided for therein. The confidentiality, non-competition, non-solicitation and invention assignment undertaking attached
as Schedule A to the Consulting Agreement, and specified other provisions of the Consulting Agreement, survive in accordance with their
terms.
Under the Separation Agreement, the Company agreed
to issue to Mr. Attiya 6,000 shares of the Company’s common stock, par value $0.0001 per share, under the Company’s 2025 Equity
Incentive Plan. The shares will be issued in a transaction not involving any public offering, in reliance upon the exemption from registration
provided by Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Regulation S promulgated thereunder, and will constitute
“restricted securities” within the meaning of Rule 144 thereunder.
The Separation Agreement also contains mutual releases
of claims by the Company and by CO-Finance and Mr. Attiya, subject to specified exclusions; covenants regarding confidentiality of the
terms of the Separation Agreement, non-disparagement and the return of Company property; a covenant of Mr. Attiya to cooperate with the
Company in connection with the transition of his former responsibilities and any audit, litigation, investigation or regulatory matter
relating to periods during which he served the Company; and a provision confirming that nothing in the Separation Agreement or in any
related agreement or Company policy limits the ability of CO-Finance or Mr. Attiya to communicate with, or participate in any investigation
or proceeding conducted by, any governmental agency or self-regulatory organization.
The foregoing description of the Separation Agreement
does not purport to be complete and is subject to, and is qualified in its entirety by reference to, the full text of the Separation Agreement,
which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.
Forward-Looking Statements
This Current Report on Form 8-K contains forward-looking
statements, including statements regarding the Company’s search for a permanent Chief Financial Officer, the interim leadership
of the Company’s financial reporting function, the anticipated issuance of shares under the Separation Agreement and the Company’s
continued compliance with the listing rules of The Nasdaq Stock Market LLC. These statements are often characterized by terminology such
as “believes,” “may,” “anticipates,” “should,” “intends,” “plans,”
“will,” “expects,” “estimates,” “projects” and similar expressions, and are based on assumptions
and assessments made in light of management’s experience and perception of historical trends, current conditions and expected future
developments. Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties, many of
which are outside of the Company’s control. Important factors that could cause actual results to differ materially from forward-looking
statements are described in the sections titled “Risk Factors” in the Company’s filings with the Securities and Exchange
Commission, including its most recent Annual Report on Form 10-K and Quarterly Reports on Form 10-Q, as well as its Current Reports on
Form 8-K. Forward-looking statements in this Current Report are made as of the date hereof, and the Company undertakes no duty to update
or revise any such statements, whether as a result of new information, future events or otherwise.