{"url_path":"/sec/cik-0001015155/8-k/2026-03-27/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 Departure of Directors or Certain","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-03-27","source_url":"https://www.sec.gov/Archives/edgar/data/1015155/0001104659-26-036262-index.html","accession_number":"0001104659-26-036262","cik":"0001015155","ticker":null,"issuer_name":"CHARLES & COLVARD LTD","edgar_url":"https://www.sec.gov/Archives/edgar/data/1015155/0001104659-26-036262-index.html","primary_entity_key":"0001015155","primary_entity_name":"CHARLES & COLVARD LTD"},"word_count":220,"has_tables":true,"body_markdown":"**Item 5.02 Departure of Directors or Certain\nOfficers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.**\n\n \n\n(b)  On March 23, 2026, Duc Pham, a member\nof the board of directors (the “Board”) of Charles & Colvard, Ltd. (the “Company”), notified the\nCompany of his intention to resign from the Board, which became effective on March 25, 2026.\n\n \n\nHis resignation from the Board was not the result\nof any disagreement with the Company, the Board, or Company management on any matter relating to the Company’s operations, policies\nor practices. Mr. Pham was a member of the Audit Committee and was Chair of the Compensation Committee.\n\n \n\nIn connection with the resignation of Mr. Pham,\nthe size of the Board was subsequently decreased from four to three members.\n\n \n\n(c)  As previously reported, Michael Levin\nwas appointed by the Board to serve as Executive Chair on January 5, 2026 for an initial term of three months. On March 25,\n2026, the Board approved extending the term of Mr. Levin’s appointment for an additional one-month period (the “Extended\nTerm”).\n\n \n\n(e)  During the Extended Term, the Board determined\nthat Mr. Levin will receive $7,500 per month for his services as Executive Chair, in lieu of any other Board compensation applicable\nfor the time period during which he is acting as Executive Chair."}