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AI brief of an SEC Form 8-K · STAAR Surgical (STAA)

STAAR Surgical CEO Stephen Farrell to leave by Jan. 31 under Broadwood cooperation deal

Mixed Impact 4 of 5 leadership Written later

STAAR Surgical entered a cooperation agreement with Broadwood Partners, its largest stockholder, which owns 31% of common stock. Under the deal, the board expanded from six to seven, CEO Stephen Farrell and director Elizabeth Yeu resigned, and three Broadwood-linked nominees joined the board. The company also said it is no longer in compliance with Nasdaq's three-member audit committee rule and intends to use a cure period.

Key points

  • Farrell's CEO service ends January 31, 2026, or earlier if the board decides; he will serve as a consultant for one year at $45,000 per month
  • Farrell is eligible for 18 months of base salary and insurance premium reimbursement, subject to a general release
  • Yeu's resignation leaves the audit committee below the three-independent-director minimum; the company notified Nasdaq on January 14, 2026
  • Broadwood agreed not to request a special stockholder meeting until June 18, 2026

The filing

CompanySTAAR Surgical (STAA)
Form8-K, current report
Filed with the SECJan 15, 2026, 9:22 AM ET
Accession number0001193125-26-013622

Items reported: 1.01 Material Definitive Agreement3.01 Delisting / Listing Rule Notice5.02 Director / Officer Change8.01 Other Events

Read the filing on SEC.gov ↗

Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 15, 2026.

Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.