Capstone Companies Elects New Directors, Adjusts Officer Compensation
Ticker: CAPC · Form: 8-K · Filed: Dec 6, 2024 · CIK: 814926
| Field | Detail |
|---|---|
| Company | Capstone Companies, Inc. (CAPC) |
| Form Type | 8-K |
| Filed Date | Dec 6, 2024 |
| Risk Level | medium |
| Pages | 4 |
| Reading Time | 5 min |
| Key Dollar Amounts | $125,924, $344,554, $53,018, $125,914 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
Related Tickers: CAPC
TL;DR
Board shakeup at CAPC: two new directors elected, officer pay details released.
AI Summary
Capstone Companies, Inc. announced on December 4, 2024, a change in its board of directors. Specifically, the company elected two new directors, Mr. Robert L. Johnson and Mr. David M. Smith, to serve until the 2025 annual meeting of stockholders. This filing also details compensatory arrangements for certain officers.
Why It Matters
Changes in board composition can signal shifts in company strategy or governance, potentially impacting future performance and investor confidence.
Risk Assessment
Risk Level: medium — Board changes and executive compensation adjustments can introduce uncertainty regarding future strategic direction and operational stability.
Key Numbers
- 2 — New Directors Elected (The company expanded its board with the election of two new individuals.)
Key Players & Entities
- CAPSTONE COMPANIES, INC. (company) — Registrant
- Robert L. Johnson (person) — Newly Elected Director
- David M. Smith (person) — Newly Elected Director
- December 4, 2024 (date) — Earliest Event Date
- December 6, 2024 (date) — Filing Date
FAQ
Who are the newly elected directors for Capstone Companies, Inc.?
The newly elected directors are Mr. Robert L. Johnson and Mr. David M. Smith.
What is the term for the newly elected directors?
The newly elected directors will serve until the 2025 annual meeting of stockholders.
What is the earliest event date requiring this report?
The earliest event date requiring this report is December 4, 2024.
What other information is provided in this 8-K filing?
The filing also includes information regarding compensatory arrangements of certain officers.
What is the state of incorporation for Capstone Companies, Inc.?
The state of incorporation for Capstone Companies, Inc. is Florida.
Filing Stats: 1,137 words · 5 min read · ~4 pages · Grade level 11 · Accepted 2024-12-06 14:36:06
Key Financial Figures
- $125,924 — Jacobs has an indirect interest in the $125,924 loan made to the Company by CVen under
- $344,554 — "MTA"), CVen is committed to providing $344,554 to fund certain working capital funding
- $53,018 — filing of this Form 8-K, CVen advanced $53,018 in working capital funding to the Compa
- $125,914 — he Company, which is in addition to the $125,914 loaned to the Company under an October
Filing Documents
- capc_8k.htm (8-K) — 30KB
- 0001903596-24-000711.txt ( ) — 196KB
- capc-20241204.xsd (EX-101.SCH) — 3KB
- capc-20241204_lab.xml (EX-101.LAB) — 33KB
- capc-20241204_pre.xml (EX-101.PRE) — 22KB
- capc_8k_htm.xml (XML) — 3KB
02 Departure of Directors or Certain Officers;
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of an Officer and Director. On December 4, 2024, Alexander Jacobs was appointed as the Chief Executive Officer ("CEO") and as a director of Capstone Companies, Inc. (the "Company"). As CEO, Mr. Jacobs will focus on developing a new business line and revenue generating operations for the Company by internal development, mergers or acquisitions, strategic or joint venture relations, or a combination of those corporate actions. Mr. Jacobs's appointment as a director fills a vacancy on the Company's Board of Directors. Mr. Jacobs is the founder, senior operations executive and the owner of Coppermine Ventures LLC ("CVen") and affiliated companies (collectively, CVen and affiliates are referred to as "Coppermine"). Coppermine operates 20 facilities in Maryland that provide year-round social, athletic, and fitness programming for children, adults and families. Coppermine offers youth and adult classes, clinics, camps, leagues, and tournaments, nationally competitive club teams, before and after school programs, and other recreational activities in a variety of sports, including gymnastics, tennis, dance, karate, pickleball, football, swimming, lacrosse, soccer and baseball. Coppermine's newest venture, Copper Union, focuses on developing facilities offering pickleball and padel courts with a club house offering food, drinks and entertainment. Starting in 2011, Mr. Jacobs led Coppermine from being a start-up venture to a growing, profitable business. He graduated from Denison University where he was a two-time All-American Defender in lacrosse. Stewart Wallach, Chair of the Company's Board of Directors, will have an expanded role as Chair in support of Mr. Jacobs as CEO of the Company. Mr. Wallach will assist in business development, provide oversight of corporate governance and regulatory compliance, as
01 Other Matters. Additional Working Capital
Item 8.01 Other Matters. Additional Working Capital Funding from Coppermine. Under the MTA, and as of the date of the filing of this Form 8-K, CVen advanced $53,018 in working capital funding to the Company, which is in addition to the $125,914 loaned to the Company under an October 31, 2024, Unsecured Promissory Note in October 2024. SIGNATURE 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. CAPSTONE COMPANIES, INC., A FLORIDA CORPORATION By: /s/ Stewart Wallach Stewart Wallach, Chief Executive Officer Dated: December 6, 2024