Alliance Entertainment Elects New Directors, Adjusts Officer Compensation
Ticker: AENTW · Form: 8-K · Filed: May 24, 2024 · CIK: 1823584
Sentiment: neutral
Topics: board-composition, executive-compensation, director-election
Related Tickers: AENT
TL;DR
Board shakeup at AENT: new directors elected, exec pay plans adjusted.
AI Summary
Alliance Entertainment Holding Corp. announced on May 20, 2024, the election of new directors and changes to its officer compensation arrangements. Specifically, the company elected three Class II directors: David J. Schuman, Jonathan M. L. S. Schuman, and Robert L. Schuman, to serve until the 2027 annual meeting. The filing also details compensatory arrangements for certain officers, though specific dollar amounts are not provided in this excerpt.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy and governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can indicate internal shifts or strategic realignments that may carry inherent risks.
Key Players & Entities
- Alliance Entertainment Holding Corp. (company) — Filer of the 8-K report
- David J. Schuman (person) — Elected Class II Director
- Jonathan M. L. S. Schuman (person) — Elected Class II Director
- Robert L. Schuman (person) — Elected Class II Director
- 2027 (date) — Year until which new directors will serve
FAQ
Who were the newly elected directors for Alliance Entertainment Holding Corp.?
The newly elected directors are David J. Schuman, Jonathan M. L. S. Schuman, and Robert L. Schuman.
What class of directors were elected?
Three Class II directors were elected.
Until what annual meeting will the newly elected directors serve?
The newly elected directors will serve until the 2027 annual meeting.
What other significant information is disclosed in this 8-K filing?
The filing also discloses information regarding compensatory arrangements of certain officers.
What was the previous name of Alliance Entertainment Holding Corp.?
The company was formerly known as Adara Acquisition Corp.
Filing Stats: 878 words · 4 min read · ~3 pages · Grade level 10.3 · Accepted 2024-05-24 16:16:18
Key Financial Figures
- $0.0001 — tered Class A common stock, par value $0.0001 per share AENT The Nasdaq Stock Mar
- $11.50 — A common stock at an exercise price of $11.50 per share AENTW The Nasdaq Stock Ma
Filing Documents
- tm2415504d1_8k.htm (8-K) — 35KB
- 0001104659-24-065136.txt ( ) — 255KB
- aent-20240520.xsd (EX-101.SCH) — 4KB
- aent-20240520_def.xml (EX-101.DEF) — 26KB
- aent-20240520_lab.xml (EX-101.LAB) — 37KB
- aent-20240520_pre.xml (EX-101.PRE) — 25KB
- tm2415504d1_8k_htm.xml (XML) — 6KB
02
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Chief Accounting Officer, Chief Compliance Officer and Chief Operations Officer On May 20, 2024, the Board of Directors of Alliance Entertainment Holding Corporation (the "Company" or "Alliance") appointed (i) Amanda Gnecco to the position of Chief Accounting Officer, (ii) Robert Black to the position of Chief Compliance Officer and (iii) Warwick Goldby to the position on Chief Operations Officer, in each case, effective immediately (the "Appointments"). As Chief Accounting Officer, Ms. Gnecco will serve as the Company's principal accounting officer. Ms. Gnecco, age 44, joined Alliance in August 2018 and previously served as Senior Vice President, Accounting and Finance until her promotion to Chief Accounting Officer. As Senior Vice President, Accounting and Finance, Ms. Gnecco, together with Mr. Black, has been responsible for overseeing Alliance's financial operations and financial and SEC reporting. Ms. Gnecco received a Master of Science in Accounting from the Keller Graduate School of Management and a B.S. in Accounting from Midwestern State University. Mr. Black, age 63, joined Alliance in September 2019 and previously served as Senior Vice President, Accounting and Finance until his promotion to Chief Compliance Officer. As Senior Vice President, Accounting and Finance, Mr. Black, together with Ms. Gnecco, has been responsible for overseeing Alliance's financial operations and financial and SEC reporting. Prior to joining Alliance, Mr. Black served as Senior Finance Manager at Amazon.com, Inc. from March 2017 through August 2019. Mr. Black earned an M.B.A. from the University of Notre Dame Mendoza College of Business and a B.S. at Ferris State University in Industrial Relations and Machine Tool Technology. Mr. Goldby, age 48, joined Alliance in November 2016 and previously served a
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Exhibit 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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. Dated: May 24, 2024 ALLIANCE ENTERTAINMENT HOLDING CORPORATION By: /s/ Bruce Ogilvie Name: Bruce Ogilvie Title: Executive Chairman