Current Report Filing (8-k)
April 20 2018 - 12:39PM
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):
April 16, 2018
CELSIUS
HOLDINGS, INC.
(Exact
name of registrant as specified in charter)
Nevada
(State
or other jurisdiction of incorporation)
000-55663
|
|
20-2745790
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(Commission
File Number)
|
|
(IRS Employer Identification
No.)
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2424
N Federal Highway, Suite 208, Boca Raton, Florida 33431
(Address
of principal executive offices and zip code)
(561)
276-2239
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(Registrant’s
telephone number including area code)
|
|
Former
Name or Former Address (If Changed Since Last Report)
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Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of registrant under
any of the following provisions:
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☐
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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(b) 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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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.
☐
When
used in this Current Report on Form 8-K, unless otherwise indicated, the terms “
the Company
,” “
Celsius
,”
“
we
,” “
us
” and “
our
” refer to Celsius Holdings, Inc. and its subsidiaries.
|
Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of
Certain Officers.
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(a)
On April 17, 2018, the Company issued a press release announcing the appointment of John Fieldly as Chief Executive Officer and
interim CFO.
A
copy of the Company’s press release dated April 17, 2018 is attached hereto as
Exhibit 99.1
and is incorporated herein
by reference.
(b)
On April 16, 2018, the Company entered into an employment agreement (the “
Employment Agreement
”) with John
Fieldly in connection with Mr. Fieldly’s appointment as Chief Executive Officer of the Company. The initial term of the
Employment Agreement is through December 31, 2020. The Employment Agreement provides for a base annual salary of $410,000, eligibility
for performance-based incentive bonuses, pursuant to such criteria as may be established by our compensation committee and the
grant of options to Mr. Fieldly under our 2015 Incentive Stock Plan to purchase 300,000 shares of our common stock. The Employment
Agreement provides for severance payments equal to (i) the annual base salary and a
pro rata
performance bonus for the
number of months remaining in the term (up to a maximum of 6 months) in the event of termination upon death; (ii) twelve months’
salary in the event of termination other than for “
cause
” (as defined therein); and (b) a “
golden
parachute
” payment in an amount equal to twice the total compensation (including performance bonus, if any) for the
two prior calendar years in the event of termination without “
cause
” following a “
change in control
”
(as defined therein). The Employment Agreement contains customary confidentiality and non-competition provisions.
The
foregoing description of the Employment Agreement is qualified in its entirety by reference to the copy of the Employment Agreement
filed as
Exhibit 10.1
hereto.
Item
9.01
|
Financial
Statements and Exhibits.
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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 hereunto duly authorized.
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CELSIUS HOLDINGS, INC.
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Date: April 20, 2018
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By:
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/s/ John
Fieldly
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John
Fieldly, Chief Executive Officer; Interim Chief Financial Officer
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