Company: HCTI
Filing Date: 2025-03-24
Form Type: 8-K
Source: 0001013762-25-001582
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Company: Healthcare Triangle, Inc.
Filing Date: 2025-03-24
Form: 8-K
Item: Item 5.02
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Item 5.02.

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Appointment of Chief Operating Officer

On March 18, 2025, the Board of Directors (the
“ Board”) of the Healthcare Triangle, Inc. (the “ Company”) appointed Ms. Sujatha Ramesh to serve as the Company’s Chief
Operating Officer, effective immediately.

In connection with her appointment, on March
18, 2025, Ms. Ramesh and the Company entered into a contract for employment (the “ Employment Agreement”), effective March
18, 2025, for Ms. Ramesh’s service as the Company’s Chief Operating Officer on an at-will basis. Pursuant to her
Employment Agreement, Ms. Ramesh is entitled to an annual base salary of $250,000 per annum, with a one-time signing bonus of 100,000
restricted shares of the Company payable within 180 days from the date of the Employment Agreement, and $25,000 in cash as guaranteed
bonus to be paid at the end of 12th month from the date of the Employment Agreement. Ms. Ramesh would be eligible for the Company’s
bonus program, based upon the performance goals and bonus plan (agreed upon by and between Ms. Ramesh and the Company), along with being
eligible for Company’s equity incentive plan, and other employee benefit programs (as then applicable, and available). If Ms. Ramesh
violates the terms of her Employment Agreement, the Company may terminate her employment without notice and without payment of any compensation
or accelerated vesting of options, subject to any over-dues. Ms. Ramesh’s Employment Agreement also provides for certain non-compete
and non-solicitation covenants. The term of Ms. Ramesh’s Employment Agreement began immediately and automatically renews for successive
one-year periods, unless otherwise terminated by either party.

Ms. Ramesh, age 54, has a distinguished career
of over 25 years of senior executive experience in the technology and financial services industry, having previously served as Global
Head of Strategic Initiatives at Citigroup (2006 - 2024), where she held senior leadership roles and led operational transformation,
governance, risk management, financial optimization, and technology modernization across global markets. Prior to Citigroup, she held
leadership positions at Publicis Sap