Current Report Filing (8-k)
26 Junho 2020 - 2:30PM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date
of Report (Date of earliest event reported): June 24, 2020
REED’S,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
|
|
001-32501
|
|
35-2177773
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
201
Merritt 7 Corporate Park, Norwalk, CT 06851
(Address
of principal executive offices and zip code)
Not
applicable
(Former
name or former address if changed since last report)
Registrant’s
telephone number, including area code: (310) 217-9400
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[ ]
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
|
|
[ ]
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
|
|
[ ]
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
|
Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class
|
|
Trading
Symbol(s)
|
|
Name
of Each Exchanged on Which Registered
|
Common
Stock, $.0001 par value per share
|
|
REED
|
|
The
NASDAQ Stock Market LLC
|
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company [ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01 Entry into a Material Definitive Agreement
On
June 24, 2020, Reed’s, Inc., a Delaware corporation (“Reed’s”), entered into an amended and restated employment
agreement (“Agreement”) with Norman E. Snyder, Jr. reflecting his promotion to Chief Executive Officer on March
1, 2020. The term of the Agreement continues through March 1, 2023 and will automatically renew for an additional one-year term,
unless earlier terminated or unless notice of non-renewal is submitted by either party 90 days in advance.
Pursuant
to the agreement, Mr. Snyder will receive a base salary at the initial rate of $300,000 per year, increasing to $350,000 on September
30, 2020, subject to satisfaction of certain performance objectives. Mr. Snyder will also be eligible to receive a performance
based cash bonus at a target amount of 50% of his then current base salary. Mr. Snyder has received certain equity compensation
grants set forth in the Agreement, as previously reported. He is also eligible to participate in Reed’s other
benefit plans available to its executive officers. The Agreement provides for acceleration of equity grants triggered by a “change
of control”, as defined in the Agreement, and contains customary, non-competition, confidentiality, invention assignment
and non-solicitation covenants. Mr. Snyder is also entitled to six months’ severance benefits in the event of termination
without cause by Reed’s or for good reason by Mr. Snyder, subject to execution of a release.
The
foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full
text of the Agreement, which will be filed as an exhibit to Reed’s Quarterly Report on Form 10-Q for the period ended June
30, 2020.
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
The
disclosures set forth in Section 1.01 are incorporated herein by this reference.
SIGNATURE
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, thereunto duly authorized.
|
REEDS,
INC.,
|
|
a
Delaware corporation
|
|
|
|
Dated:
June 26, 2020
|
By:
|
/s/
Thomas J. Spisak
|
|
|
Thomas
J. Spisak
|
|
|
Chief
Financial Officer
|
Reeds (NASDAQ:REED)
Gráfico Histórico do Ativo
De Jun 2024 até Jul 2024
Reeds (NASDAQ:REED)
Gráfico Histórico do Ativo
De Jul 2023 até Jul 2024