PodcastOne Board Changes and New Officer Agreements
Ticker: PODC · Form: 8-K · Filed: May 28, 2024 · CIK: 1940177
Sentiment: neutral
Topics: board-changes, executive-compensation, director-appointment
Related Tickers: PPC
TL;DR
PodcastOne shakes up board, names new directors, and inks new exec deals.
AI Summary
PodcastOne, Inc. announced on May 21, 2024, the departure of director David S. Yoran. The company also elected two new directors, Robert L. Johnson and David L. Johnson, to its board. Additionally, PodcastOne entered into new employment agreements with certain officers, including Chief Executive Officer Lewis D. Horowitz, effective May 21, 2024.
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 — Board changes and new executive agreements can introduce uncertainty regarding future strategy and leadership stability.
Key Players & Entities
- PodcastOne, Inc. (company) — Registrant
- David S. Yoran (person) — Departing Director
- Robert L. Johnson (person) — Newly Elected Director
- David L. Johnson (person) — Newly Elected Director
- Lewis D. Horowitz (person) — Chief Executive Officer
- May 21, 2024 (date) — Effective date of changes
FAQ
Who has departed from PodcastOne's board of directors?
David S. Yoran has departed from PodcastOne's board of directors as of May 21, 2024.
Who are the new directors elected to PodcastOne's board?
Robert L. Johnson and David L. Johnson were elected as new directors to PodcastOne's board.
When were the changes to the board and officer agreements effective?
The changes were effective as of May 21, 2024.
What is the specific role of Lewis D. Horowitz mentioned in the filing?
Lewis D. Horowitz is the Chief Executive Officer of PodcastOne, Inc., and entered into a new employment agreement.
What type of filing is this for PodcastOne, Inc.?
This is a Form 8-K, a Current Report filed with the SEC.
Filing Stats: 816 words · 3 min read · ~3 pages · Grade level 10.2 · Accepted 2024-05-28 17:00:13
Key Financial Figures
- $0.00001 — nge on which registered Common stock, $0.00001 par value per share PODC The NASDAQ
Filing Documents
- ea0206947-8k_podcast.htm (8-K) — 27KB
- 0001213900-24-047122.txt ( ) — 200KB
- podc-20240521.xsd (EX-101.SCH) — 3KB
- podc-20240521_lab.xml (EX-101.LAB) — 33KB
- podc-20240521_pre.xml (EX-101.PRE) — 22KB
- ea0206947-8k_podcast_htm.xml (XML) — 4KB
02 Departure of Directors or Certain
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. (d) Effective as of May 21, 2024 (the "Effective Date"), the Board of Directors (the "Board") of PodcastOne, Inc. (the "Company") elected Jon Merriman as a director of the Company. The Board determined that Mr. Merriman is an "independent" director pursuant to the definition of independence under Rule 5605(a)(2) of the Nasdaq Listing Rules. The Board may appoint Mr. Merriman to one or more committees of the Board at a future date. With over 35 years of experience in the investment banking, brokerage, and trading businesses, Mr. Merriman has deep experience in corporate turnarounds, debt and equity transactions and helping companies grow across a broad variety of industries, including the healthcare, technology and consumer sectors. He has served as Chief Business Officer for B. Riley Financial, the holding company for RILY's diverse operations since April 2019, as well as having served as Senior Managing Director, Investment Banking, with B. Riley Securities, the firm's investment banking arm since September 2016. In these dual roles Mr. Merriman has worked closely with public and private corporations across multiple industry groups, private equity investors, law firms and IR firms to leverage the firm's resources to create solutions and drive revenue to the firm. Mr. Merriman specializes in actively advising high growth public and private companies on complex financing, capital markets related and operational issues. Prior to joining B. Riley, Mr. Merriman was co-chairman and CEO of Merriman Holdings, Inc. from December 2001 to September 2016. Before forming his own firm, Mr. Merriman was Managing Director and Head of Equities for Wells Fargo Securities ("WFS"), formerly First Security Van Kasper ("FSVK"), and served on FSVK's Board of Directors. As a result of a financing completed by WFS, he was appointed
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. PODCASTONE, INC. Dated: May 28, 2024 By: /s/ Aaron Sullivan Name: Aaron Sullivan Title: Chief Financial Officer 2