QuickLogic Corporation announced the resignation of Chief Financial Officer Elias Nader, effective September 18, 2026. Mr. Nader resigned to pursue other opportunities and is committed to an orderly transition of his duties. The filing confirms that his departure is not related to any disagreements with the Company regarding accounting, operating policies, or practices.

Effective October 5, 2026, QuickLogic appointed James Sullivan, 58, as the new Senior Vice President of Finance and Chief Financial Officer. Mr. Sullivan will lead the global finance organization and assume the roles of principal financial officer and principal accounting officer. He replaces Mr. Nader and has no family relationships with other executive officers or directors of the Company.

Mr. Sullivan brings significant experience in the semiconductor sector. He most recently served as CFO of Peraso Inc., a publicly traded semiconductor company, from December 2021 through September 2026. Prior to that, he served as CFO of MoSys, Inc., a publicly traded fabless semiconductor company, for 14 years. He also held CFO positions at Apptera, Inc. and 8x8, Inc., a publicly traded software-as-a-service provider. Mr. Sullivan holds a Bachelor of Science degree in Accounting from New York University’s Stern School of Business and is a certified public accountant.

The Company disclosed the terms of Mr. Sullivan’s compensation. He will receive an annual base salary of $340,000 and is eligible for an annual incentive bonus equal to 50% of his base salary. He will also receive a cash signing bonus of $10,000. Additionally, subject to approval by the Compensation Committee, Mr. Sullivan will be granted $600,000 in restricted stock units as an employment inducement award. These New Hire RSUs will vest over a three-year period, with one-third vesting on the one-year anniversary of the grant date and one-sixth vesting every six months thereafter, provided he remains employed by the Company.

QuickLogic also stated that Mr. Sullivan will enter into the Company’s standard form of change-of-control agreement and indemnification agreement. The Company reaffirmed its previously announced third quarter 2026 guidance following the leadership transition.