Reed's, Inc. Appoints New CEO, Elects Directors

TL;DR

Reed's just got a new CEO and two board members, plus a new CFO deal. Big changes ahead?

AI Summary

Reed's, Inc. announced on February 28, 2024, a series of executive changes and a new compensatory arrangement. The company elected two new directors, Robert L. D'Loren and Robert J. Moran, and appointed D'Loren as the new Chief Executive Officer and President. Additionally, the company entered into a new employment agreement with its Chief Financial Officer, Mark R. Belnick, effective February 28, 2024.

Why It Matters

The appointment of a new CEO and directors, along with executive employment agreements, signals a potential shift in the company's strategy and leadership direction.

Risk Assessment

Risk Level: medium — Changes in key executive positions and board composition can indicate strategic shifts or underlying issues that may impact the company's future performance.

Key Players & Entities

• Reed's, Inc. (company) — Registrant
• Robert L. D'Loren (person) — Elected Director and new CEO/President
• Robert J. Moran (person) — Elected Director
• Mark R. Belnick (person) — Chief Financial Officer
• February 28, 2024 (date) — Effective date of changes

FAQ

Key Financial Figures

• $300,000 — retroactive to January 1, 2024, is now $300,000. She also received a bonus of $52,500.
• $52,500 — $300,000. She also received a bonus of $52,500. Ms. Tinnelly is eligible for a discret
• $300 m — executive officers, and she receives a $300 monthly car allowance and a $150 monthly
• $150 m — ives a $300 monthly car allowance and a $150 monthly cell phone allowance. Ms. Tinne

Filing Documents

• form8-k.htm (8-K) — 36KB
• ex10-1.htm (EX-10.1) — 100KB
• 0001493152-24-008634.txt ( ) — 317KB
• reed-20240228.xsd (EX-101.SCH) — 3KB
• reed-20240228_lab.xml (EX-101.LAB) — 33KB
• reed-20240228_pre.xml (EX-101.PRE) — 22KB
• form8-k_htm.xml (XML) — 3KB

From the Filing

UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 28, 2024 REED'S, INC. (Exact name of registrant as specified in its charter) Delaware 001-32501 35-2177773 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 201 Merritt 7 Corporate Park, Norwalk, CT 06851 (Address of principal executive offices and zip code) Not applicable (Former name or former address if changed since last report) Registrant's telephone number, including area code: (800) 997-3337 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions: Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: none Title of Each Class Trading Symbol(s) Name of Each Exchanged on Which Registered Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). Emerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (e) On February 28, 2023, the Board of Directors (the "Board") of Reed's, Inc., a Delaware corporation ("Reed's" or the "company") and Joann Tinnelly, Reed's Chief Financial Officer, agreed to a compensation structure commensurate with her position as Chief Financial Officer. Ms. Tinnelly's salary, retroactive to January 1, 2024, is now $300,000. She also received a bonus of $52,500. Ms. Tinnelly is eligible for a discretionary annual performance bonus based on a target of 35% of her annual salary. Ms. Tinnelly is eligible to participate in company benefits available to its executive officers, and she receives a $300 monthly car allowance and a $150 monthly cell phone allowance. Ms. Tinnelly and the company's other Section 16 officers and directors have entered, or are expected to, enter into the company's current form of indemnification agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein. Item 9.01. Financial Statements and Exhibits. (d) The following items are filed as exhibits to the Current Report on Form 8-K. Exhibit No. Description 10.1 Reed's, Inc. 2024 Form Indemnification Agreement 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 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, thereunto duly authorized. REEDS, INC., a Delaware corporation Dated: March 4, 2024 By: /s/ Norman E. Snyder, Jr. Norman E. Snyder, Jr., Chief Executive Officer

View Full Filing

View this 8-K filing on SEC EDGAR