Current Report Filing (8-k)
April 07 2021 - 5:16PM
Edgar (US Regulatory)
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
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000-53166
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77-0664193
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(State
or other jurisdictions of
incorporation
or organization)
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(Commission
File
Number)
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(I.R.S.
Employer
Identification
No.)
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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:
[ ]
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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 exchange on which registered
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N/A
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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. [ ]
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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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.
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MUSCLEPHARM CORPORATION
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By:
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/s/
Ryan Drexler
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Name:
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Ryan
Drexler
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Title:
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Chief
Executive Officer
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Date:
April 7, 2021
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