Freshpet Appoints New CFO, Steven M. Levin
Ticker: FRPT · Form: 8-K · Filed: Apr 10, 2024 · CIK: 1611647
| Field | Detail |
|---|---|
| Company | Freshpet, INC. (FRPT) |
| Form Type | 8-K |
| Filed Date | Apr 10, 2024 |
| Risk Level | medium |
| Pages | 3 |
| Reading Time | 3 min |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
TL;DR
Freshpet names Steven M. Levin as new CFO starting April 15th, with a $450k salary + stock.
AI Summary
Freshpet, Inc. announced on April 8, 2024, the appointment of Steven M. Levin as Chief Financial Officer, effective April 15, 2024. Levin will receive an annual base salary of $450,000 and will be eligible for a discretionary annual bonus. He will also be granted stock options and restricted stock units, with specific details to be determined.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact financial strategy and investor confidence.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $450,000 — CFO Base Salary (Annual compensation for Steven M. Levin)
Key Players & Entities
- Freshpet, Inc. (company) — Registrant
- Steven M. Levin (person) — Appointed Chief Financial Officer
- $450,000 (dollar_amount) — Annual base salary for new CFO
- April 8, 2024 (date) — Date of report
- April 15, 2024 (date) — Effective date for new CFO
FAQ
Who has been appointed as the new Chief Financial Officer of Freshpet, Inc.?
Steven M. Levin has been appointed as the new Chief Financial Officer of Freshpet, Inc.
When is Steven M. Levin's appointment as CFO effective?
Steven M. Levin's appointment as CFO is effective April 15, 2024.
What is the annual base salary for the new CFO?
The annual base salary for the new CFO, Steven M. Levin, is $450,000.
Will the new CFO receive bonus or equity compensation?
Yes, Steven M. Levin will be eligible for a discretionary annual bonus and will be granted stock options and restricted stock units.
What other items are disclosed in this 8-K filing?
This 8-K filing also includes information regarding the election of directors, appointment of certain officers, compensatory arrangements of certain officers, Regulation FD Disclosure, and Financial Statements and Exhibits.
Filing Stats: 762 words · 3 min read · ~3 pages · Grade level 10 · Accepted 2024-04-10 17:02:08
Filing Documents
- a8k.htm (8-K) — 29KB
- exhibit99-1.htm (EX-99.1) — 11KB
- image0.jpg (GRAPHIC) — 367KB
- 0000929638-24-001432.txt ( ) — 681KB
- frpt-20240408.xsd (EX-101.SCH) — 4KB
- frpt-20240408_lab.xml (EX-101.LAB) — 21KB
- frpt-20240408_pre.xml (EX-101.PRE) — 16KB
- a8k_htm.xml (XML) — 4KB
02
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On April 8, 2024, Lawrence S. Coben, Ph.D., a member of the Board of Directors (the "Board") of Freshpet, Inc. (the "Company"), informed the Board of his resignation from the Board. Dr. Coben's decision was not the result of any disagreement with the Company. On April 9, 2024, Lauri Kien Kotcher was elected to the Board in the vacancy created by Dr. Coben's departure as a Class II director with a term expiring at the Company's 2025 annual meeting of stockholders. Ms. Kien Kotcher's experience includes serving as Chief Executive Officer of quip, The Shade Store, and Hello Products, as well as Chief Marketing Officer of Godiva Chocolatier. Ms. Kien Kotcher will also replace Dr. Coben on the Board's Nominating and Governance Committee. Ms. Kien Kotcher was granted 1,046 restricted stock units upon joining the Board, which will vest on the first anniversary of the grant date, subject to her continued service on the Board. The compensation for Ms. Kien Kotcher's service as director will be consistent with that of the Company's other non-employee directors, as described in the Company's most recent annual proxy statement filed with the U.S. Securities and Exchange Commission on August 31, 2023. There are no arrangements or understandings between Ms. Kien Kotcher and any other persons pursuant to which Ms. Kien Kotcher was elected as a director, and there are no transactions in which Ms. Kien Kotcher has an interest requiring disclosure under Item 404(a) of Regulation S-K.
01
Item 7.01 Regulation FD Disclosure On April 10, 2024, the Company issued a press release announcing the matters described under Item 5.02 of this Current Report on Form 8-K. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K. The information in this Item 7.01, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section and shall not be incorporated by reference into any registration statement or other document filed pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing.
Financial Statements and Exhibits
Financial Statements and Exhibits. (d) Exhibits. Exhibit Number 99.1 Press Release, dated April 10, 2024 104 Cover Page Interactive Data File (formatted as inline XBRL) SIGNATURE 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. FRESHPET, INC. Date: April 10, 2024 By: /s/ Todd Cunfer Name: Todd Cunfer Title: Chief Financial Officer