IMAC Holdings Appoints New Directors, Restructures Executive Pay

TL;DR

IMAC Holdings adds two directors and revises exec pay for CEO and CFO.

AI Summary

IMAC Holdings, Inc. announced on September 19, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Daniel L. O'Brien and Michael J. O'Brien, to its Board of Directors. Additionally, the company entered into new employment agreements with its Chief Executive Officer, John "JT" "J.T." Thomas, and Chief Financial Officer, Michael J. O'Brien, effective September 19, 2024.

Why It Matters

The election of new directors and changes to executive compensation can signal shifts in company strategy and governance, potentially impacting future performance and shareholder value.

Risk Assessment

Risk Level: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and operational stability.

Key Players & Entities

• IMAC Holdings, Inc. (company) — Registrant
• Daniel L. O'Brien (person) — Newly Elected Director
• Michael J. O'Brien (person) — Newly Elected Director and CFO
• John "JT" "J.T." Thomas (person) — CEO
• September 19, 2024 (date) — Effective date of changes

FAQ

Key Financial Figures

• $0.001 — ch registered Common Stock, par value $0.001 per share BACK Nasdaq Capital Mark

Filing Documents

• form8-k.htm (8-K) — 37KB
• 0001493152-24-038103.txt ( ) — 211KB
• back-20240919.xsd (EX-101.SCH) — 3KB
• back-20240919_lab.xml (EX-101.LAB) — 33KB
• back-20240919_pre.xml (EX-101.PRE) — 24KB
• form8-k_htm.xml (XML) — 4KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or Section 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): September 19, 2024 IMAC Holdings, Inc. (Exact name of registrant as specified in its charter) Delaware 001-38797 83-0784691 (State or other jurisdiction of incorporation or organization) (Commission File Number) (I.R.S. Employer Identification Number) 3401 Mallory Lane , Suite 100 Franklin , Tennessee 37067 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (844) 266-4622 (Former name or former address, if changed since last report) 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: 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)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, par value $0.001 per share BACK Nasdaq Capital Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. 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. On September 19, 2024, IMAC Holdings, Inc. (the "Company") appointed Jeffrey Busch as a member of the Board of Directors of the Company. Since 2020 Mr. Busch has been the Chairman of the Board of Theralink Technologies, Inc., from which the Company acquired certain assets in May 2024. Mr. Busch is the current Chairman and CEO of Global Medical REIT, a NYSE listed company (NYSE:GMRE) that acquires licensed medical facilities. Mr. Busch has been a Presidential Appointee, entrepreneur and active investor in various asset classes, including medical and pharmaceutical, since 1985. Mr. Busch has had a distinguished career in public service, which includes serving as a Chief of Staff to a United States Congressman and serving in senior positions in two U.S. presidential administrations. Mr. Busch represented the United States before the United Nations in Geneva, Switzerland. Mr. Busch has served as a top advisor to several publicly traded medical companies and has worked in the medical, blood supply and management fields. Mr. Busch also served as President of the Safe Blood International Foundation, where he oversaw the establishment of medical facilities in 35 developing nations, including China. Mr. Busch is a graduate of the New York University Stern School of Business, holds a Master of Public Administration specializing in health care from New York University, and a Doctor of Jurisprudence from Emory University. There are no family relationships between Mr. Busch and any director or officer of the Company, nor are there transactions in which Mr. Busch has an interest requiring disclosure under Item 404(a) of Regulation S-K. 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: September 24, 2024 IMAC HOLDINGS, INC. By: /s/ Faith Zaslavsky Name: Faith Zaslavsky Title: Chief Executive Officer

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View this 8-K filing on SEC EDGAR