Dominari Holdings Inc. Appoints New CEO, Directors, and Adjusts Executive Pay

TL;DR

Dominari Holdings Inc. just swapped out its CEO and board, bringing in David L. R. Smith as the new boss and adjusting exec pay. Big leadership shakeup!

AI Summary

Dominari Holdings Inc. announced on July 11, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Mr. David L. R. Smith and Mr. David M. Miller, and appointed Mr. Smith as the new Chief Executive Officer and President. Additionally, the company entered into new employment agreements with its executive officers, including Mr. Smith, Mr. Miller, and Ms. Jennifer L. Johnson, outlining their compensation packages.

Why It Matters

This filing signals a significant leadership transition and potential strategic shift for Dominari Holdings Inc., with new executive appointments and compensation adjustments that could impact future performance and shareholder value.

Risk Assessment

Risk Level: medium — Leadership changes and executive compensation adjustments can introduce uncertainty and potential risks related to strategy execution and company performance.

Key Players & Entities

• Dominari Holdings Inc. (company) — Registrant
• David L. R. Smith (person) — Newly elected director, CEO, and President
• David M. Miller (person) — Newly elected director
• Jennifer L. Johnson (person) — Executive Officer
• July 11, 2024 (date) — Date of Report

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value DOMH The Nasdaq Capital M
• $1 m — of each SPV deal. On SPV's valued under $1 million, Messrs. Hayes and Wool will each
• $2,500 — nd Wool will each receive a flat fee of $2,500. The fee structure subsequently increas
• $5,000 — h million-dollar increment, starting at $5,000 each for SPV deal valued between $1 mil
• $1 million — $5,000 each for SPV deal valued between $1 million and $2 million, and increases $5,000 fo
• $2 m — SPV deal valued between $1 million and $2 million, and increases $5,000 for each mi

Filing Documents

• ea020928601-8k_dominari.htm (8-K) — 23KB
• 0001013762-24-000165.txt ( ) — 192KB
• domh-20240711.xsd (EX-101.SCH) — 3KB
• domh-20240711_lab.xml (EX-101.LAB) — 33KB
• domh-20240711_pre.xml (EX-101.PRE) — 22KB
• ea020928601-8k_dominari_htm.xml (XML) — 4KB

02

Item 5.02 Departure of Directors of Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. In an effort to further advance Dominari Holding Inc.'s (the " Company ") rapidly growing special purpose vehicle (" SPV ") management platform, and in alignment with industry practice, the Company's compensation committee has agreed to amend and align the compensation arrangements of its top executives with the financial success of the SPV platform. Going forward, in respect of the SPV platform, Messrs. Anthony Hayes and Kyle Wool will be compensated for the performance of the SPVs on a sliding scale based on the valuation of each SPV deal. On SPV's valued under $1 million, Messrs. Hayes and Wool will each receive a flat fee of $2,500. The fee structure subsequently increases linearly with each million-dollar increment, starting at $5,000 each for SPV deal valued between $1 million and $2 million, and increases $5,000 for each million thereafter.

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. Dated: July 11, 2024 DOMINARI HOLDINGS INC. By: /s/ Anthony Hayes Name: Anthony Hayes Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR