Allbirds Files 8-K on Financials and Executive Changes

TL;DR

Allbirds dropped an 8-K: financial results, exec changes, and more. Check it out.

AI Summary

Allbirds, Inc. filed an 8-K on March 7, 2024, reporting on its results of operations and financial condition, as well as the departure of directors, election of directors, and compensatory arrangements for officers. The filing also includes financial statements and exhibits.

Why It Matters

This filing provides crucial updates on Allbirds' financial performance and any changes in its leadership or executive compensation, which can impact investor confidence and strategic direction.

Risk Assessment

Risk Level: medium — The filing contains information about financial results and executive changes, which can introduce volatility and uncertainty for investors.

Key Players & Entities

• Allbirds, Inc. (company) — Registrant
• March 7, 2024 (date) — Date of earliest event reported
• Delaware (jurisdiction) — State of incorporation
• 730 Montgomery Street (address) — Principal executive office address
• San Francisco, CA 94111 (address) — Principal executive office city, state, zip

FAQ

Key Financial Figures

• $0.0001 — hich registered Class A common stock, $0.0001 par value BIRD The Nasdaq Stock Market
• $500,000 — o will receive an annual base salary of $500,000 and will be eligible to receive an annu
• $600,000 — stock units with a grant date value of $600,000 (the "RSU Award"), and (ii) an award of
• $2.00 — Percentage of PSUs eligible to vest 1 $2.00 50% of PSUs 2 $3.00 50% of PSUs Upon
• $3.00 — ligible to vest 1 $2.00 50% of PSUs 2 $3.00 50% of PSUs Upon achievement of a Com
• $187,500 — ve cash payments in the gross amount of $187,500, less applicable withholdings, which wi

Filing Documents

• bird-20240307.htm (8-K) — 49KB
• ceoofferletter.htm (EX-10.1) — 22KB
• transitionandspecialadviso.htm (EX-10.2) — 46KB
• allbirdsq42023earningsrele.htm (EX-99.1) — 305KB
• image_0.jpg (GRAPHIC) — 56KB
• image_0a.jpg (GRAPHIC) — 8KB
• 0001653909-24-000012.txt ( ) — 682KB
• bird-20240307.xsd (EX-101.SCH) — 2KB
• bird-20240307_lab.xml (EX-101.LAB) — 22KB
• bird-20240307_pre.xml (EX-101.PRE) — 13KB
• bird-20240307_htm.xml (XML) — 3KB

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition. On March 12, 2024, Allbirds, Inc. (the "Company") reported financial results and business highlights for the quarter and fiscal year ended December 31, 2023. A copy of this press release (the "Earnings Press Release") is furnished as Exhibit 99.1 to this Current Report on Form 8-K (the "Current Report") and is incorporated by reference. The information in this Item 2.02 of this Current Report (including Exhibit 99.1) is being furnished and 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 in 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 a filing. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On March 7, 2024, Joseph Zwillinger, the President, Chief Executive Officer and Secretary of the Company informed the Company's Board of Directors (the "Board") of his intention to transition from his role as President, Chief Executive Officer and Secretary, effective March 15, 2024. On March 9, 2024, the Board appointed Joe Vernachio, the Company's current Chief Operating Officer, to serve as President, Chief Executive Officer and Secretary of the Company, effective March 15, 2024. Mr. Vernachio was also appointed to the Board, effective March 15, 2024, and will serve as a Class II director and will stand for reelection at the 2026 annual meeting of stockholders. Mr. Zwillinger will continue serving as a member of the Board and will serve as an advisor to the Company through December 31, 2024. Mr. Vernachio, 59, served as the Company's Chief Operating Officer since June 2021. From April 2017 to May 2021, Mr

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 10.1 Offer Letter between Allbirds, Inc. and Joseph Vernachio, dated March 9 , 2024 10.2 Transition and Special Advisor Agreement be tween Allbirds, Inc. and Jo seph Zwillinger , dated March 8, 2 024 99.1 Earnings Press Release, dated March 12, 2024 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Allbirds, Inc. Dated: March 12, 2024 By: /s/ Joseph Zwillinger Joseph Zwillinger Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR