Banzai International Announces Board Changes and Officer Appointments

Ticker: BNZIW · Form: 8-K · Filed: Jun 11, 2024 · CIK: 1826011

Sentiment: neutral

Topics: management-change, board-of-directors, officer-appointment, compensation

TL;DR

Banzai board shakeup: new directors elected, officers appointed, and compensation details revealed.

AI Summary

Banzai International, Inc. announced on June 5, 2024, a change in its board of directors, with the election of new directors and the appointment of certain officers. The company also disclosed compensatory arrangements for these officers. This filing follows the company's previous name change from 7GC & Co. Holdings Inc. on September 24, 2020.

Why It Matters

Changes in a company's board and executive team can signal shifts in strategy or governance, potentially impacting future performance and investor confidence.

Risk Assessment

Risk Level: medium — Changes in board composition and officer appointments can indicate internal shifts that may carry associated risks.

Key Players & Entities

FAQ

What specific changes were made to Banzai International's board of directors?

The filing indicates the election of new directors and the appointment of certain officers, though specific names are not detailed in this excerpt.

What is the significance of the compensatory arrangements mentioned?

The filing notes that compensatory arrangements for certain officers are being disclosed, which typically outlines executive pay and incentives.

When did Banzai International change its name?

Banzai International, Inc. changed its name from 7GC & Co. Holdings Inc. on September 24, 2020.

What is the primary purpose of this Form 8-K filing?

This Form 8-K is a current report filed to announce significant events, specifically the departure of directors, election of directors, appointment of officers, and details on compensatory arrangements.

Where is Banzai International, Inc. incorporated and what is its IRS Employer Identification No.?

Banzai International, Inc. is incorporated in Delaware and its IRS Employer Identification No. is 85-3118980.

Filing Stats: 570 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-06-11 17:28:03

Key Financial Figures

Filing Documents

From the Filing

8-K UNITED STATES 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): June 5, 2024 Banzai International, Inc. (Exact name of registrant as specified in its charter) Delaware 001-39826 85-3118980 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 435 Ericksen Ave , Suite 250 Bainbridge Island , Washington 98110 (Address of Principal Executive Offices) (Zip Code) Registrant's telephone number, including area code: ( 206 ) 414-1777 (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 Class A common stock, par value $0.0001 per share BNZI The Nasdaq Global Market Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock at an exercise price of $11.50 BNZIW The 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 (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. Item5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On June 5, 2024, Mark Musburger advised Banzai International, Inc. of his decision to resign from his position as Chief Financial Officer. Mr. Musburger's resignation is effective at the close of business on June 14, 2024. Mr. Musburger's decision to resign was not the result of any disagreements with the Company on any matter related to the operations, policies, or practices of the Company. Upon Mr. Musburger's departure, Alvin Yip will be assuming the role of interim CFO. Mr. Yip is a certified public accountant with over 25 years of accounting experience, serving in various roles with increasing responsibility throughout his career. Mr. Yip has served as Corporate Controller for the Company since December of 2022. There is no family relationship between Mr. Yip and any of our other officers and directors. Mr. Yip has not had any transaction with the Company since the beginning of our last fiscal year. Item9.01. Financial Statements and Exhibits. Exhibit No. Description 10.4 Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document) 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: June 11, 2024 BANZAI INTERNATIONAL, INC. By: /s/ Joseph Davy Joseph Davy Chief Executive Officer

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