Charlotte's Web Holdings Elects New Directors, Adjusts Officer Compensation
Ticker: CWBHF · Form: 8-K · Filed: Jun 20, 2024 · CIK: 1750155
| Field | Detail |
|---|---|
| Company | Charlotte'S Web Holdings, Inc. (CWBHF) |
| Form Type | 8-K |
| Filed Date | Jun 20, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 4 min |
| Key Dollar Amounts | $280,000 |
| Sentiment | neutral |
Sentiment: neutral
Topics: board-changes, executive-compensation, governance
TL;DR
Board shakeup at Charlotte's Web: new directors in, exec pay details out.
AI Summary
Charlotte's Web Holdings, Inc. announced on June 17, 2024, the election of new directors and changes in its officer compensation arrangements. Specifically, the company elected three new directors: Ms. Jennifer MacRitchie, Mr. David Burrow, and Mr. Michael Auerbach, to serve until the next annual meeting of shareholders. The filing also details compensatory arrangements for certain officers, though specific dollar amounts are not provided in this section.
Why It Matters
Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.
Risk Assessment
Risk Level: medium — Changes in board composition and executive compensation can introduce uncertainty regarding future strategy and leadership effectiveness.
Key Players & Entities
- Charlotte's Web Holdings, Inc. (company) — Registrant
- Jennifer MacRitchie (person) — Newly elected director
- David Burrow (person) — Newly elected director
- Michael Auerbach (person) — Newly elected director
- June 17, 2024 (date) — Date of earliest event reported
FAQ
Who were the newly elected directors at Charlotte's Web Holdings, Inc.?
The newly elected directors are Ms. Jennifer MacRitchie, Mr. David Burrow, and Mr. Michael Auerbach.
When was the earliest event reported in this 8-K filing?
The earliest event reported was on June 17, 2024.
What is the principal executive office address for Charlotte's Web Holdings, Inc.?
The principal executive offices are located at 700 Tech Court, Louisville, Colorado, 80027.
What is the company's fiscal year end?
The company's fiscal year ends on December 31.
What are the main items reported in this 8-K filing?
This 8-K filing reports on the departure of directors or certain officers, election of directors, appointment of certain officers, and compensatory arrangements of certain officers, as well as Regulation FD Disclosure.
Filing Stats: 980 words · 4 min read · ~3 pages · Grade level 10.4 · Accepted 2024-06-20 07:00:55
Key Financial Figures
- $280,000 — letter, Ms. Lind's base salary will be $280,000 per annum and will be subject to applic
Filing Documents
- form8k.htm (8-K) — 33KB
- ex101.htm (EX-10.1) — 12KB
- ex991.htm (EX-99.1) — 12KB
- logo.jpg (GRAPHIC) — 16KB
- header.jpg (GRAPHIC) — 16KB
- 0001279569-24-000767.txt ( ) — 281KB
- cweb-20240620.xsd (EX-101.SCH) — 3KB
- cweb-20240620_lab.xml (EX-101.LAB) — 33KB
- cweb-20240620_pre.xml (EX-101.PRE) — 22KB
- form8k_htm.xml (XML) — 4KB
01
Item 7.01 Regulation FD Disclosure. On June 18, 2024, the Company issued a press release announcing the appointment of Ms. Lind as Chief Financial Officer, effective June 29, 2024, and the departure of Ms. Saxton as the Company's Chief Financial Officer, effective June 28, 2024. A copy of the press release is filed as Exhibit 99.1 and incorporated into this Item 7.01 by reference. The information in this Item 7.01 of this Form 8-K is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (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 or the Exchange Act, except as expressly set forth by specific reference in such filing. (d) Exhibits: Exhibit No. Description 10.1 Offer Letter from Charlotte's Web Holdings, Inc. to Erika Lind, dated June 17, 2024. 99.1* Press release issued by Charlotte's Web Holdings, Inc. on June 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document Indicates a management contract or compensatory plan or arrangement. * This Exhibit 99.1 is furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934 (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 or the Exchange Act, except as expressly set forth by specific reference in such filing.
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 thereunto duly authorized. CHARLOTTE'S WEB HOLDINGS, INC. Date: June 20, 2024 By: /s/ Stephen Rogers Stephen Rogers Senior Vice President - General Counsel and Corporate Secretary