Current Report Filing (8-k)
December 21 2020 - 04:06PM
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): December 21,
2020
|
Veritas
Farms, Inc. |
| (Exact
name of registrant as specified in charter) |
|
Nevada |
|
333-191251 |
|
99-0375676 |
(State
or other Jurisdiction
of Incorporation) |
|
(Commission
File Number) |
|
(IRS
Employer
Identification No.) |
|
1512
E. Broward Blvd., Ste. 300, Fort Lauderdale, FL |
|
33301 |
| (Address
of Principal Executive Offices) |
|
(Zip
Code) |
Registrant’s telephone number, including area code: (561)
288-6603
|
|
| (Former
name or former address, if changed since last
report) |
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of Company 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(b) under the Exchange Act (17 CFR
240.14a-12(b)) |
|
☐ |
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 |
| |
|
|
|
|
| None |
|
|
|
|
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. ☐
As used in this Current Report on Form 8-K, and unless otherwise
indicated, the terms “the Company,” “Veritas Farms,”
“we,” “us” and “our” refer to Veritas Farms,
Inc. and its subsidiary.
|
Item 5.02 |
Departure of Directors or
Certain Officers; Election of Directors; Appointment of Certain
Officers; Compensatory Arrangements of Certain Officers. |
On December 21, 2020, Veritas Farms entered into a separation
agreement effective as of September 16, 2020 (the “Effective
Date”), with the Company’s Executive Vice President, Erduis
Sanabria (the “Separation Agreement”), pursuant to which the
Company agreed to pay Mr. Sanabria a severance equal to three
years’ of his base salary and the continuation of vested stock
options to purchase 1,000,000 shares held by Mr. Sanabria until the
end of that three-year period in consideration for Mr. Sanabria’s
resignation from all officer and Board positions held with the
Company. The Separation Agreement additionally contains,
among other things, customary releases, confidentiality, and
non-disparagement provisions.
The foregoing description of the Separation Agreement is only a
summary and is qualified in its entirety by reference to the
complete text of the Separation Agreement, which is filed as
Exhibit 10.1 to this Current Report on Form 8-K and
incorporated by reference in this Item 5.02.
|
Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
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.
| Dated:
December 21, 2020 |
VERITAS
FARMS, INC. |
| |
|
|
| |
By: |
/s/
Alexander M. Salgado |
| |
|
Alexander
M. Salgado, |
| |
|
Chief
Executive Officer |
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