Management Change/Compensation (Form 8-K)

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers.

Departure of Chief Executive Officer

On August 26, 2026, Katharyn Field informed the Board of Directors (the "Board") of iSpecimen Inc. (the "Company") of her decision to transition from her role as Chief Executive Officer. Ms. Field's departure as Chief Executive Officer was not the result of any disagreement with the Company on any matter relating to the Company's operations, policies, or practices. Ms. Field will continue to support the Company in an internal advisory and consulting capacity.

Appointment of Chief Executive Officer

On August 26, 2026, the Board appointed Shahin Behroyan as Chief Executive Officer of the Company, effective immediately.

Mr. Behroyan, age 39, is a Vancouver-based entrepreneur and business leader with more than two decades of experience spanning investments, consumer packaged goods, healthcare and wellness, politics, and market research. Mr. Behroyan has experience with billions of dollars in aggregate transaction value over the course of his career and a significant history of working with multinational companies. Mr. Behroyan also has broad experience with emerging growth companies, where he played a central role in building companies and securing national retail distribution across Canada, helping drive brand growth from pre-revenue to millions of dollars in sales. Mr. Behroyan has extensive experience in political organizing and fundraising, including work for former British Columbia Premier Gordon Campbell. Mr. Behroyan brings additional market research expertise from his work with Campaign Research of Toronto. Mr. Behroyan holds a Bachelor of Arts from Simon Fraser University.

In connection with his appointment, the Company entered into an Independent Contractor Agreement with Mr. Behroyan, dated August 26, 2026 (the "Contractor Agreement"), pursuant to which Mr. Behroyan, through his personal corporation, 1605811 BC Ltd., a company incorporated under the laws of the Province of British Columbia, Canada, will serve as Chief Executive Officer of the Company. The Contractor Agreement provides for an annual fee of $350,000, payable in equal monthly installments of $29,166.67. Mr. Behroyan will serve as an independent contractor and will not be eligible for any employee benefits. The Contractor Agreement commenced on August 26, 2026 and may be terminated by the Board at any time, with or without notice, and with or without cause. In the event of termination without cause or termination by Mr. Behroyan for good reason, the Company will provide Mr. Behroyan with a severance payment of $67,500. The Contractor Agreement also contains customary confidentiality provisions.

There are no family relationships between Mr. Behroyan and any director or executive officer of the Company, and there are no arrangements or understandings between Mr. Behroyan and any other person pursuant to which he was appointed as Chief Executive Officer, other than the Contractor Agreement described above. There are no transactions in which Mr. Behroyan has an interest requiring disclosure under Item 404(a) of Regulation S-K.

The foregoing description of the Contractor Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Contractor Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K and incorporated herein by reference.