Arena Group 8-K: Leadership/Compensatory Changes Reported Jan 19

TL;DR

**Arena Group filed an 8-K on Jan 25, reporting leadership/compensation changes from Jan 19; watch for strategic shifts.**

AI Summary

The Arena Group Holdings, Inc. (AREN) filed an 8-K on January 25, 2024, reporting an event that occurred on January 19, 2024. This filing indicates a significant corporate event related to the departure or election of directors/officers or changes in compensatory arrangements, as well as other events and financial statements. This matters to investors because changes in leadership or executive compensation can signal shifts in company strategy, financial health, or future performance, potentially impacting the stock's value.

Why It Matters

Changes in executive leadership or compensation can directly influence a company's strategic direction and operational stability, which are critical factors for stock performance.

Risk Assessment

Risk Level: medium — Changes in leadership or compensatory arrangements can introduce uncertainty, but the specific details are not yet public, making the exact impact unclear.

Analyst Insight

A smart investor would monitor for subsequent filings or press releases from Arena Group Holdings, Inc. that provide specific details about the reported leadership changes or compensatory arrangements, as these will clarify the potential impact on the company's future direction and stock performance.

Key Numbers

• $0.01 — par value per share (par value of Arena Group's Common Stock)

Key Players & Entities

• Arena Group Holdings, Inc. (company) — the registrant filing the 8-K
• NYSE American (company) — the exchange where AREN Common Stock is registered
• January 19, 2024 (date) — date of the earliest event reported
• January 25, 2024 (date) — date the 8-K was filed
• 001-12471 (dollar_amount) — Commission File Number

Forward-Looking Statements

• Further details regarding the specific leadership changes or compensatory arrangements will be disclosed in subsequent filings or press releases. (Arena Group Holdings, Inc.) — high confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share AREN NYSE American Chec

Filing Documents

• form8-k.htm (8-K) — 54KB
• ex17-1.htm (EX-17.1) — 5KB
• 0001493152-24-003753.txt ( ) — 233KB
• aren-20240119.xsd (EX-101.SCH) — 3KB
• aren-20240119_lab.xml (EX-101.LAB) — 33KB
• aren-20240119_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED 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): January 19, 2024 THE ARENA GROUP HOLDINGS, INC. (Exact name of registrant as specified in its charter) delaware 001-12471 68-0232575 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 200 VESEY STREET , 24TH FLOOR NEW YORK , new york 10281 (Address of principal executive offices) (Zip code) 212 - 321-5002 (Registrant's telephone number including area code) (Former name or former address if changed since last report) Securities registered pursuant in Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.01 per share AREN NYSE American Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below): Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) 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. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (a) Director Resignation On January 19, 2024, The Arena Group Holdings, Inc. (the "Company") received email correspondence from Ross Levinsohn tendering his resignation (the "Resignation Email") as a member of the Board of Directors (the "Board") of the Company. Mr. Levinsohn's resignation was accepted by the Company on January 19, 2024. Mr. Levinsohn states that his resignation is a result of disagreement with certain recent actions by the Board, including the Board's approval of the Company's plan to manage its operating expenses by implementing a reduction of its current workforce, as previously disclosed on a Current Report on Form 8-K filed with the Securities and Exchange Commission (the "SEC") on January 19, 2024. The Company disagrees with the comments in the Resignation Email. The Company believes that Mr. Levinsohn's comments are reflective of a disgruntled former executive who was terminated on December 11, 2023. The members of the Board take their fiduciary duties and responsibilities seriously. The Company's decisions regarding operating expenses, strategic transactions, or otherwise, followed thoughtful process and deliberation and were determined to be in the best interest of the Company and its stockholders. A copy of Mr. Levinsohn's Resignation Email is included as Exhibit 17.1 to this Current Report on Form 8-K (the "Form 8-K"). The Company has provided a copy of this Form 8-K to Mr. Levinsohn. (b) Appointment of Interim President On January 23, 2024, the Board appointed Jason Frankl as interim President of the Company, effective immediately. Mr. Frankl, 50, has served as Chief Business Transformation Officer of the Company since January 5, 2024. He has served as Senior Managing Director at FTI Consulting, a global business advisory firm, since March 2004. The Company previously entered into an engagement letter with FTI Consulting (the "Engagement Letter") for the provision of Mr. Frankl as Chief Business Transformation Officer. The Engagement Letter is not being amended and no additional compensation is being paid to Mr. Frankl in connection with his appointment as interim President. Mr. Frankl has not received and will not receive any compensation directly from the Company. The Company will instead pay FTI Consulting for Mr. Frankl's services. Other than as described above, the Company has not entered into any plan, contract, agreement, grant or award in connection with Mr. Frankl's appointment to serve as interim President and there is no arrangement or understanding between Mr. Frankl and any other persons, pursuant to which Mr. Frankl was selected as an officer and no family relationships among any of the Company's directors or executive officers and Mr. Frankl. Mr. Frankl does no

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View this 8-K filing on SEC EDGAR