A.K.A. Brands Files 8-K: Material Agreement & Officer Changes
Ticker: AKA · Form: 8-K · Filed: Apr 18, 2024 · CIK: 1865107
| Field | Detail |
|---|---|
| Company | A.K.A. Brands Holding CORP. (AKA) |
| Form Type | 8-K |
| Filed Date | Apr 18, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $0.001, $350,000, $360,500 |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-agreement, officer-changes, director-changes, financial-statements
TL;DR
AKA Brands filed an 8-K on 4/18 for a material agreement and exec changes.
AI Summary
A.K.A. Brands Holding Corp. filed an 8-K on April 18, 2024, reporting on a material definitive agreement and changes in directors and officers. The filing also includes financial statements and exhibits, with the earliest event reported on April 12, 2024.
Why It Matters
This filing indicates significant corporate actions, including a new material agreement and potential changes in leadership, which could impact the company's strategic direction and operational stability.
Risk Assessment
Risk Level: medium — Material definitive agreements and changes in directors or officers can signal significant shifts in a company's operations or financial health, warranting closer scrutiny.
Key Numbers
- 1231 — Fiscal Year End (Indicates the end of the company's annual financial reporting period.)
Key Players & Entities
- A.K.A. Brands Holding Corp. (company) — Registrant
- April 12, 2024 (date) — Earliest event reported
- April 18, 2024 (date) — Date of report
- 001-40828 (other) — SEC File Number
FAQ
What is the nature of the material definitive agreement mentioned in the filing?
The filing indicates a material definitive agreement was entered into, but the specific details of this agreement are not provided in the provided text.
What specific changes occurred regarding directors or officers?
The filing notes 'Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers,' but the specific individuals and their roles are not detailed in the excerpt.
What is the company's principal executive office address?
The principal executive offices are located at 100 Montgomery Street, Suite 2270, San Francisco, California 94104.
What is the SIC code for A.K.A. Brands Holding Corp.?
The Standard Industrial Classification (SIC) code is 5961, which corresponds to RETAIL-CATALOG & MAIL-ORDER HOUSES.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this filing occurred on April 12, 2024.
Filing Stats: 920 words · 4 min read · ~3 pages · Grade level 10.6 · Accepted 2024-04-18 16:23:36
Key Financial Figures
- $0.001 — ch registered: Common Stock, par value $0.001 per share AKA New York Stock Exchange
- $350,000 — led to receive an annual base salary of $350,000, which reflects Mr. White's original sa
- $360,500 — 's salary was subsequently increased to $360,500 on March 30, 2023. Mr. White is eligibl
Filing Documents
- aka-20240412.htm (8-K) — 32KB
- exhibit101-employmentagree.htm (EX-10.1) — 162KB
- 0001865107-24-000024.txt ( ) — 358KB
- aka-20240412.xsd (EX-101.SCH) — 2KB
- aka-20240412_lab.xml (EX-101.LAB) — 23KB
- aka-20240412_pre.xml (EX-101.PRE) — 13KB
- aka-20240412_htm.xml (XML) — 3KB
01
Item 1.01 Entry into a Material Definitive Agreement The information set forth in Item 5.02 below is incorporated herein by reference.
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 12, 2024, a.k.a. Brands, Inc., an indirectly wholly-owned subsidiary of a.k.a. Brands Holding Corp. (the "Company"), and Kenneth C. White, the Company's Chief Legal Officer and Head of People, entered into an employment agreement, effective as of June 6, 2022 (the "Employment Agreement"). The Employment Agreement has an initial term of four years beginning on June 6, 2022, subject to automatic renewals for additional one-year periods. Pursuant to the terms of the Employment Agreement, Mr. White was originally entitled to receive an annual base salary of $350,000, which reflects Mr. White's original salary upon joining the Company, subject to increase at the discretion of the Company's Board of Directors (the "Board"). Mr. White's salary was subsequently increased to $360,500 on March 30, 2023. Mr. White is eligible to receive an annual bonus under the Company's bonus program based on a target percentage determined by the Board or the Compensation Committee of the Board at its discretion. Mr. White is entitled to participate in the employee and fringe benefit plans and programs that are generally available to the senior executive employees of the Company. In the event of termination without cause (as defined in the Employment Agreement), Mr. White will be entitled to receive (i) his earned and unpaid base salary through the date of his termination, (ii) an amount equal to four months' of his then-current base salary, payable pro rata over the four-month period following his termination, (iii) any earned and unpaid annual bonus for which the applicable performance period has ended and (iv) reimbursement for COBRA premiums for himself and his dependents each month for a six-month period following his termination, in each case, provided that Mr. White executes a general release of all claims against th
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Employment Agreement, dated April 12, 2024, by and between a.k.a. Brands Holdings Corp. and Kenneth C. White 104 Cover page interactive data file (embedded within the inline XBRL document)
SIGNATURES
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 thereunto duly authorized. a.k.a. Brands Holding Corp. Date: April 18, 2024 By: /s/ Ciaran Long Name: Ciaran Long Title: Interim Chief Executive Officer and Chief Financial Officer