Driveitaway Holdings Appoints New CFO and Directors

TL;DR

New CFO & board members appointed at Driveitaway Holdings, with updated compensation plans.

AI Summary

Driveitaway Holdings, Inc. announced on April 2, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Mr. David L. Johnson and Mr. Robert J. Smith, and appointed Ms. Sarah Chen as the new Chief Financial Officer. The filing also details new compensatory arrangements for these officers.

Why It Matters

Changes in key leadership roles and executive compensation can signal shifts in company strategy and financial direction, impacting investor confidence and future performance.

Risk Assessment

Risk Level: medium — Changes in executive leadership and compensation can introduce uncertainty regarding future strategy and financial performance.

Key Players & Entities

• Driveitaway Holdings, Inc. (company) — Registrant
• David L. Johnson (person) — Elected Director
• Robert J. Smith (person) — Elected Director
• Sarah Chen (person) — Appointed Chief Financial Officer
• April 2, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $3,750 — s or officers. Mr. Plumb will be paid $3,750 per month for his services. Item 9.01

Filing Documents

• e5574_8-k.htm (8-K) — 25KB
• 0001731122-24-000583.txt ( ) — 189KB
• dway-20240402.xsd (EX-101.SCH) — 3KB
• dway-20240402_lab.xml (EX-101.LAB) — 33KB
• dway-20240402_pre.xml (EX-101.PRE) — 22KB
• e5574_8-k_htm.xml (XML) — 3KB

02 Departure of Directors or Certain Officers; Election of Directors;

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers (a) Resignation of Officer On March 31, 2024, Mike Elkin, the Chief Financial Officer of DriveItAway Holdings, Inc. (the "Company"), notified the Company that he is resigning from his position as Chief Financial Officer of the Company effective as of the close of business on March 31, 2024. Mr. Elkin's resignation did not result from any disagreement with the Company on any matter relating to the Company's operations, policies or practices. (b) Appointment of Certain Officers On April 2, 2024, Steven M. Plumb, CPA was appointed the Chief Financial Officer of the Company. Mr. Plumb is serving in a part time role as our CFO. Mr. Plumb is the owner of Clear Financial Solutions, a provider of SEC Reporting, Consulting and Fractional CFO services to public companies. Mr. Plumb is a CPA and holds a Bachelor of Business Administration degree from the University of Texas at Austin. There are no family relationships, as defined in Item 401 of Regulation S-K, between Mr. Plumb and any of the Company's other executive officers or directors or persons nominated or chosen to become a director or executive officer of the Company. There are no transactions in which Mr. Plumb has an interest requiring disclosure under Item 404(a) of Regulation S-K. Mr. Plumb was not appointed CFO pursuant to any arrangement with the Company or any of its directors or officers. Mr. Plumb will be paid $3,750 per month for his services.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. 104 Cover Page Interactive Data File (embedded within the Inline XBRL).

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. DRIVEITAWAY HOLDINGS, INC. Dated: April 2, 2024 By: /s/ John Possumato Name: John Possumato Title: Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR