UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

April 1, 2021

Date of report (date of earliest event reported)

 

 

 

MusclePharm Corporation

(Exact name of registrant as specified in its charter)

 

 

 

Nevada   000-53166   77-0664193

(State or other jurisdictions of

incorporation or organization)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

4500 Park Granada, Suite 202, Calabasas, CA 91302

(Address of principal executive offices) (Zip Code)

 

(800) 292-3909

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrants 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 exchange on which registered

N/A 

       

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

 

Effective as of April 5, 2021, MusclePharm Corporation (the “Company”) appointed Ms. Sabina Rizvi as the Company’s President and Chief Financial Officer.

 

Ms. Rizvi, age 53, joins the Company from Yum! Brands, where she most recently served as Chief Operating Officer, Yum! Digital and Technology. Before that, she held multiple other roles of increasing responsibility, including Vice President, Strategy & Repeatability from 2017 to 2019 and President and General Manager, Pizza Hut Thailand from 2014 to 2017.

 

The Company has agreed to pay Ms. Rizvi a base salary of $450,000 per year and she is eligible to receive an annual discretionary performance bonus targeted at 60% of her base salary for 2021 subject to the achievement of certain performance metrics.

 

In connection with her appointment, it is expected that Ms. Rizvi will enter into the Company’s standard form of indemnification agreement, the form of which has been filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K, filed with the Securities and Exchange Commission on August 27, 2012.

 

Ms. Rizvi does not have a family relationship with any director or executive officer of the Company or person nominated or chosen by the Company to become a director or executive officer, and there are no arrangements or understandings between Ms. Rizvi and any other person pursuant to which Ms. Rizvi was selected to serve as President and Chief Financial Officer of the Company. There have been no transactions involving Ms. Rizvi that would require disclosure under Item 404(a) of Regulation S-K under the Securities Exchange Act of 1934, as amended.

 

On April 1, 2021, Allen Sciarillo departed from his position as the Company’s Chief Financial Officer, effective as of the date thereof.

 

 

 

 

SIGNATURES

 

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 hereunto duly authorized.

 

  MUSCLEPHARM CORPORATION
                                       
  By: /s/ Ryan Drexler
  Name:  Ryan Drexler
  Title: Chief Executive Officer
     
Date: April 7, 2021    

 

 

 

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