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Bluejay Diagnostics , Inc. (NASDAQ:BJDX), a medical devices company with a market capitalization of $2.5 million, has confirmed the departure of its Chief Technology Officer, Jason Cook. According to InvestingPro data, the company maintains a healthy liquidity position with more cash than debt on its balance sheet. The separation agreement, which will be effective as of June 4, 2025, was mutually entered into on May 28, 2025, and will see Dr. Cook’s employment officially cease on May 30, 2025.
The agreement follows the discussions previously disclosed in the company’s quarterly report for the period ending March 31, 2025. According to the terms, Dr. Cook will receive severance payments as per his existing employment contract. These payments include a six-month base salary and a pro-rated target bonus for the 2025 calendar year. These severance payments are contingent upon Dr. Cook’s adherence to ongoing confidentiality and cooperation covenants.
Additionally, the agreement allows for the possibility of Dr. Cook serving as a paid consultant post-employment, subject to future agreement on terms by both parties.
This development was detailed in an 8-K filing with the Securities and Exchange Commission, which includes the full text of the Separation Agreement as Exhibit 10.1. The information in this article is based on statements from the press release and the SEC filing.
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