BT Brands CFO Resigns
Ticker: BTBDW · Form: 8-K · Filed: Jun 10, 2024 · CIK: 1718224
Sentiment: neutral
Topics: executive-departure, cfo, management-change
TL;DR
CFO Michael Wilson out at BT Brands as of June 5th, CEO stepping in temporarily.
AI Summary
On June 6, 2024, BT Brands, Inc. filed an 8-K report detailing the resignation of its Chief Financial Officer, Michael J. Wilson, effective June 5, 2024. The company has not yet appointed a successor, and the responsibilities will be temporarily handled by the Chief Executive Officer and other members of the finance team. No disagreements with Mr. Wilson regarding accounting principles or financial statement disclosures were reported.
Why It Matters
The unexpected departure of a CFO can create uncertainty regarding financial leadership and strategy, potentially impacting investor confidence.
Risk Assessment
Risk Level: medium — A sudden CFO departure can signal underlying issues or create instability in financial reporting and strategic direction.
Key Players & Entities
- Michael J. Wilson (person) — Chief Financial Officer who resigned
- BT Brands, Inc. (company) — Company filing the 8-K
- June 6, 2024 (date) — Date of the 8-K filing
- June 5, 2024 (date) — Effective date of CFO resignation
FAQ
Who is the outgoing Chief Financial Officer of BT Brands, Inc.?
The outgoing Chief Financial Officer of BT Brands, Inc. is Michael J. Wilson.
When was Michael J. Wilson's resignation effective?
Michael J. Wilson's resignation was effective June 5, 2024.
Has BT Brands, Inc. appointed a successor CFO?
No, BT Brands, Inc. has not yet appointed a successor CFO.
Who will handle the CFO's responsibilities temporarily?
The Chief Executive Officer and other members of the finance team will temporarily handle the CFO's responsibilities.
Were there any disagreements between Mr. Wilson and the company regarding financial matters?
No, the filing states there were no disagreements between Mr. Wilson and the company regarding accounting principles or financial statement disclosures.
Filing Stats: 457 words · 2 min read · ~2 pages · Grade level 10.4 · Accepted 2024-06-10 16:11:32
Filing Documents
- btbd_8k.htm (8-K) — 26KB
- btbd_ex991.htm (EX-99.1) — 6KB
- btbd_8kimg1.jpg (GRAPHIC) — 4KB
- 0001477932-24-003600.txt ( ) — 186KB
- btbd-20240606.xsd (EX-101.SCH) — 6KB
- btbd-20240606_lab.xml (EX-101.LAB) — 16KB
- btbd-20240606_cal.xml (EX-101.CAL) — 1KB
- btbd-20240606_pre.xml (EX-101.PRE) — 12KB
- btbd-20240606_def.xml (EX-101.DEF) — 4KB
- btbd_8k_htm.xml (XML) — 6KB
01 Other Events
Item 8.01 Other Events. On June 6, 2024, the Company issued a press release announcing that the Company's Board of Directors has authorized a stock repurchase program to acquire up to 625,000 shares, or approximately 10.0%, of the Company's currently issued and outstanding common stock. For more information, reference is made to the Company's press release dated June 6, 2024, a copy of which is attached hereto as Exhibit 99.1 and is incorporated by reference herein.
01 Financial Statements and Other Exhibits
Item 9.01 Financial Statements and Other Exhibits. (d) Exhibits Number Description 99.1 Press Release dated June 6, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 2
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. BT BRANDS, INC. Dated: June 10, 2024 By: /s/ Gary Copperud Gary Copperud Chief Executive Officer 3