TransMedics Group, Inc. filed a current report on Form 8-K on September 10, 2026, disclosing the appointment of Fernando Araujo as Chief Financial Officer and Treasurer, effective September 21, 2026, and the planned transition of outgoing CFO Gerardo Hernandez.

Key Highlights

  • New CFO appointed: Fernando Araujo, age 46, will become Chief Financial Officer and Treasurer of TransMedics Group effective September 21, 2026.
  • Annual base salary: Araujo's offer letter sets an annual base salary of $590,000 and an annual bonus target of 60% of base salary.
  • Sign-on bonus and equity: Araujo will receive a $200,000 cash sign-on bonus, a stock option award with a grant date value of approximately $1,750,000, and restricted stock units with a grant date value of approximately $1,750,000.
  • Outgoing CFO transition: Gerardo Hernandez, who has served as CFO since 2024, will remain a non-executive employee through December 31, 2026, then serve as a non-employee senior advisor through April 30, 2027.
  • Hernandez compensation during transition: Hernandez will continue to receive an annual base salary of $535,000 and remain eligible for a 2026 annual bonus based on actual performance.
  • Change-in-control provision: If a qualifying termination occurs within 24 months following a change in control, Araujo would receive 1.5 times annual base salary plus additional benefits including full vesting of outstanding equity awards.

TransMedics CFO Transition: Araujo Compensation Terms and Hernandez Departure Details

According to the filing, TransMedics Group, Inc. (NASDAQ:TMDX) disclosed that its Board of Directors approved the appointment of Fernando Araujo as Chief Financial Officer and Treasurer on September 10, 2026. Araujo, who most recently served as CFO of GE HealthCare's Advanced Imaging Solutions from 2023 to 2026, will assume the role on September 21, 2026. Before that position, the filing states he served as Senior Vice President, Finance at 3M Enterprise Operations from October 2022 to March 2023, and held CFO roles within GE Healthcare for the U.S., Canada, and Latin America regions from March 2018 to October 2022. He holds a Bachelor of Business Administration from Centro Universitario UNA and an MBA from Columbia Business School.

The filing describes Araujo's employment as at-will, governed by an offer letter and an executive retention agreement. His $200,000 sign-on bonus is payable in two equal installments within his first ninety days. His stock option award will vest 25% on the first anniversary of the vesting commencement date, with the remainder vesting in equal monthly installments over three additional years. The restricted stock units will vest 25% on each of the first four anniversaries of the vesting commencement date. The filing also outlines severance tiers: a qualifying termination on or after 12 months from hire provides 12 months of base salary plus highest prior-three-year bonus and up to 12 months of health coverage; a qualifying termination before 12 months provides six months of base salary and up to six months of health coverage.

Regarding the departing CFO, the filing states that Gerardo Hernandez will transition to a non-executive employee role from September 21, 2026 through December 31, 2026, then serve as a non-employee senior advisor through April 30, 2027. The filing notes that Hernandez's outstanding equity awards will continue to vest during both periods and that, following his separation date, he will receive severance benefits consistent with a without-cause termination under his existing retention agreement. The filing states he will not receive additional remuneration for his advisory services beyond continued equity vesting.

What Was Disclosed

TransMedics Group disclosed the appointment of Fernando Araujo as CFO effective September 21, 2026, including his compensation terms, equity grants, and severance provisions, as well as the transition and departure timeline for outgoing CFO Gerardo Hernandez.