Leadership & Pay ·
Carlsmed CFO Leo Greenstein departs with $500,000 severance as Richard Heppenstall takes over
CARLCarlsmed, Inc.
Carlsmed, Inc. announced the departure of Chief Financial Officer Leo Greenstein effective September 25, 2026, and appointed Richard Heppenstall as his successor effective September 28, 2026. Mr. Greenstein receives $500,000 in severance, accelerated vesting of approximately 90,000 equity awards, and COBRA premiums for up to 12 months under a separation agreement. He will also serve as an advisor through December 31, 2026, for a fee of $60,000. Mr. Heppenstall’s employment package includes a $500,000 annual base salary, target incentives equal to 60% of base, and inducement grants of stock options and restricted stock units valued at $1,400,000 each. The company also provided up to $150,000 in relocation benefits. Carlsmed reaffirmed its full-year 2026 revenue guidance of $74 million to $78 million. Carlsmed is a medical technology company pioneering AI-enabled personalized spine surgery solutions.