UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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| Item 2.05 | Costs Associated with Exit or Disposal Activities. |
On August 28, 2026, the Board of Directors (the “Board”) of TELA Bio, Inc. (the “Company”) approved a reduction in workforce (the “Plan”) in order to reduce the Company’s operating expenses and preserve capital to focus on improving product sales to support increasing future revenue growth. The Plan will reduce the Company’s workforce by approximately 20%, from 201 full-time employees to 160 full-time employees, and is expected to be substantially completed during the third quarter of 2026.
The Company expects to incur aggregate charges of approximately $1.5 million in connection with the Plan, consisting primarily of severance and other employee-related costs. The Company expects that substantially all of these charges will result in future cash expenditures and will be incurred during the third quarter of 2026.
The estimates described above are subject to a number of assumptions and actual results may differ materially from the estimates. The Company may also incur additional charges or cash expenditures not currently contemplated due to events that may occur as the Plan is implemented.
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Effective on August 31, 2026, Roberto Cuca stepped down from his position as the Company’s Chief Financial Officer, Chief Operating Officer, Corporate Secretary and principal financial officer. Mr. Cuca’s departure will be treated as a termination without cause pursuant to his existing employment agreement. The Board appointed Heather Getz to serve as the Company’s “principal financial officer.”
The Company expects to enter into a separation agreement with Mr. Cuca on the same terms as provided for in his existing employment agreement, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2026.
| Item 7.01 | Regulation FD Disclosure. |
On August 31, 2026, the Company issued a press release announcing the Company’s strategic cost reduction initiative. A copy of this press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.
The information furnished pursuant to Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
The following exhibits are being furnished herewith:
| Exhibit No. |
Document | |
| 99.1 | Press Release of TELA Bio, Inc., dated August 31, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| TELA BIO, INC. | ||
| By: | /s/ Heather Getz | |
| Name: | Heather Getz | |
| Title: | Chief Executive Officer and Director | |
Date: August 31, 2026