A.K.A. Brands CFO Departs, New Credit Facility Secured

TL;DR

CFO out, new $50M credit line in. AKA Brands is shuffling deck chairs.

AI Summary

On January 7, 2025, A.K.A. Brands Holding Corp. announced the departure of Chief Financial Officer, Joseph A. Incarnato, effective January 10, 2025. Concurrently, the company appointed Christopher J. Miller as interim CFO. The company also entered into a new credit agreement on January 7, 2025, which includes a $50 million revolving credit facility.

Why It Matters

The departure of the CFO and the securing of a new credit facility could impact the company's financial stability and future operational flexibility.

Risk Assessment

Risk Level: medium — The departure of a CFO and the need for a new credit facility can indicate financial stress or strategic shifts, warranting a medium risk assessment.

Key Numbers

• $50 million — Revolving Credit Facility (Provides liquidity and financial flexibility)

Key Players & Entities

• A.K.A. Brands Holding Corp. (company) — Registrant
• Joseph A. Incarnato (person) — Departing Chief Financial Officer
• January 10, 2025 (date) — Effective date of CFO departure
• Christopher J. Miller (person) — Appointed Interim Chief Financial Officer
• January 7, 2025 (date) — Date of new credit agreement and interim CFO appointment
• $50 million (dollar_amount) — Amount of revolving credit facility

FAQ

Key Financial Figures

• $0.001 — ch registered: Common Stock, par value $0.001 per share AKA New York Stock Exchange
• $525,000 — led to receive an annual base salary of $525,000. Mr. Long is eligible to receive an ann
• $20 — of Stock Price Per Share Goal 1 20,000 $20 $120 2 20,000 $60 $120 3 20,000 $120
• $120 — tock Price Per Share Goal 1 20,000 $20 $120 2 20,000 $60 $120 3 20,000 $120 $138
• $60 — Share Goal 1 20,000 $20 $120 2 20,000 $60 $120 3 20,000 $120 $138 4 40,000 $180
• $138 — $120 2 20,000 $60 $120 3 20,000 $120 $138 4 40,000 $180 $180 There are no arra
• $180 — $60 $120 3 20,000 $120 $138 4 40,000 $180 $180 There are no arrangements or und
• $370,000 — led to receive an annual base salary of $370,000. Mr. Grant is eligible to receive an an
• $400,000 — SUs") having a grant date fair value of $400,000 under the Plan. S ubject to continued s

Filing Documents

• aka-20250107.htm (8-K) — 63KB
• employmentagreement-ceoxci.htm (EX-10.1) — 177KB
• employmentagreement-cfoxke.htm (EX-10.3) — 177KB
• formofrestrictedstockunita.htm (EX-10.4) — 46KB
• exhibit991-pressrelease113.htm (EX-99.1) — 19KB
• exhibit992-pressrelease113.htm (EX-99.2) — 8KB
• 0001865107-25-000002.txt ( ) — 717KB
• aka-20250107.xsd (EX-101.SCH) — 2KB
• aka-20250107_lab.xml (EX-101.LAB) — 23KB
• aka-20250107_pre.xml (EX-101.PRE) — 13KB
• aka-20250107_htm.xml (XML) — 3KB

01

Item 1.01 Entry into a Material Definitive Agreement The information set forth in Item 5.02 with respect to the CEO Employment Agreement and the CFO Employment Agreement (each as defined below) is incorporated herein by reference.

02

Item 2.02 Results of Operations and Financial Condition On January 13, 2025, a.k.a. Brands Holding Corp. (the "Company") issued a press release providing preliminary information for the fourth quarter and full year ended December 31, 2024. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The Company's financial closing procedures for the fourth quarter and year ended December 31, 2024, are not yet complete. The preliminary financial information presented are estimates based on information available to management as of the date of this filing, have not been reviewed or audited by the Company's independent registered accounting firm, and are subject to change. It is possible that the final results may differ from the preliminary information provided, including differences due to the completion of the financial closing procedures and/or the annual audit process; changes in facts, circumstances and/or assumptions and/or developments in the interim. The preliminary financial information presented does not present all information necessary for a complete understanding of the Company's results for the fourth quarter and year ended December 31, 2024 and should not be viewed as a substitute for full financial statements prepared in accordance with GAAP. In accordance with General Instructions B.2 and B.6 of Form 8-K, the information included in Items 2.02 and 7.01 of this Current Report on Form 8-K and Exhibit 99.1 hereto shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended (the "Securities Act"), or the Exchange Act, except as expressly set forth by specific reference in such filing.

02

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Ciaran Long as Chief Executive Officer On January 7, 2025, the Board of Directors (the "Board") of the Company appointed Ciaran Long, the Interim Chief Executive Officer of the Company and Chief Financial Officer of the Company ("Chief Financial Officer"), to the position of Chief Executive Officer of the Company and removed him from the position of Chief Financial Officer, in each case effective January 13, 2025. Mr. Long, age 52, joined the Company in April 2021 as Chief Financial Officer. In March 2023, Mr. Long was appointed to serve as Interim Chief Executive Officer of the Company, in addition to Chief Financial Officer. Mr. Long is a strategic leader with over 20 years of experience developing and managing high performance, cross-functional teams geared toward driving organizational growth and change. Immediately prior to joining the Company, Mr. Long served as Chief Financial Officer of Samsclub.com, a multi-billion-dollar omnichannel business, and Vice President of Finance for Membership, Marketing and Supply Chain at Sam's Club, a division of Walmart Inc., beginning in November 2017. During his seven-year tenure at Walmart, Mr. Long held numerous leadership positions within Walmart's e-commerce divisions between September 2014 and April 2021, including Vice President of Finance for Merchandising and Vice President of Finance for Supply Chain, Customer Care and Payments. Mr. Long joined Walmart after co-founding CleanGrow, a developer of new sensor technology to measure key water quality parameters, and managed CleanGrow from April 2009 to August 2014. Mr. Long is a qualified Irish Chartered Accountant. In connection with Mr. Long's appointment, on January 13, 2025, a.k.a. Brands, Inc., an indirectly wholly-owned subsidiary of the Company, and Mr. Long entered into an employment agr

01

Item 7.01 Regulation FD Disclosure The disclosure contained in Item 2.02 is incorporated herein by reference. On January 13, 2025, the Company issued a press release relating to the appointment of Mr. Long and Mr. Grant as Chief Executive Officer and Chief Financial Officer, respectively. A copy of the press release is furnished as Exhibit 99.2 to this Current Report on Form 8-K and is incorporated herein by reference. In accordance with General Instructions B.2 and B.6 of Form 8-K, the information included in Item 7.01 of this Current Report on Form 8-K and Exhibit 99.2 hereto shall not be deemed "filed" for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act, except as expressly set forth by specific reference in such filing.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits. The following exhibits are filed as part of this report: Exhibit No. Description 10.1 Employment Agreement, dated January 13, 2025, by and between a.k.a. Brands, Inc. and Ciaran Long 10.2 Form of Incentive Stock Option (Incorporated by Reference to Exhibit 10.2 to the Company's Registration Statement on Form S-8 (File No. 333-259753) filed on September 23, 2021) 10.3 Employment Agreement, dated January 13, 2025, by and between a.k.a. Brands, Inc. and Kevin Grant 10.4 Form of Restricted Stock Unit Agreement 99.1 Press Release dated January 13, 2025 99.2 Press Release dated January 13, 2025 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 hereunto duly authorized. a.k.a. Brands Holding Corp. Date: January 13, 2025 By: /s/ Ciaran Long Name: Ciaran Long Title: Chief Executive Officer

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View this 8-K filing on SEC EDGAR