Current Report Filing (8-k)
November 29 2019 - 12:14PM
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): November 22, 2019
REED’S,
INC.
(Exact
name of registrant as specified in its charter)
Delaware
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001-32501
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35-2177773
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(State
or other jurisdiction
of
incorporation)
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(Commission
File
Number)
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(IRS
Employer
Identification
No.)
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201
Merritt 7 Corporate Park
Norwalk,
Connecticut 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: (203) 890-0557
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:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of Each Class
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Trading
Symbol(s)
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Name
of Each Exchanged on Which Registered
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Common
Stock, $.0001 par value per share
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REED
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The
NASDAQ Stock Market LLC
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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.
The
disclosures set forth in Item 5.02 regarding the entry by Reed’s, Inc., a Delaware corporation (“Reed’s”)
into the Separation, Settlement and Release of Claims Agreement with Stefan Freeman, the company’s former Chief
Operating Officer, are incorporated herein by this reference.
Item
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
On
November 22, 2019, Reed’s entered into a Separation, Settlement and Release of Claims Agreement with Stefan Freeman, its
former Chief Operating Officer (“Separation Agreement”) in connection with Mr. Freeman’s resignation from his
position as Chief Operating Officer of Reed’s and the subsequent termination of his employment effective November 30, 2019.
The Agreement will also be effective on November 30, 3019.
The Separation Agreement supersedes and replaces
his Employment Agreement dated October 4, 2017 and provides for the payment of certain severance benefits by Reed’s to Mr.
Freeman including the following: (a) salary continuation in an amount equal to 7 months’ salary at Mr. Freeman’s base
salary rate, less all applicable withholdings and (b) payment of Mr. Freeman’s COBRA premium for earlier of seven months
or until commencement of coverage sponsored by subsequent employer (including employer of spouse). In addition, the Separation
Agreement contains a general mutual release related to Mr. Freeman’s employment with the Reed’s and customary confidentiality,
non-disclosure, non-solicitation and non-disparagement provisions.
The
description of the Separation Agreement contained herein does not purport to be complete and is qualified in its entirety by reference
to the complete text of the Separation Agreement. A copy of the Separation Agreement will be filed as an exhibit to the Company’s
Annual Report on Form 10-K for the fiscal year ending December 31, 2019.
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.
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REEDS,
INC.,
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a
Delaware corporation
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Dated:
November 29, 2019
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By:
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/s/
Norman Snyder
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Norman Snyder
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Chief Operating Officer
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