Arhaus Appoints New CFO, Grants Stock Awards

TL;DR

Arhaus names new CFO, Christopher Smith, with $450k salary and significant stock grants.

AI Summary

On June 18, 2024, Arhaus, Inc. announced the appointment of Christopher J. K. Smith as its new Chief Financial Officer, effective June 24, 2024. Smith will receive an annual base salary of $450,000 and will be eligible for a discretionary annual bonus. He will also be granted 100,000 restricted stock units, vesting over four years, and a stock option award for 50,000 shares, vesting over three years.

Why It Matters

The appointment of a new CFO is a significant leadership change that could impact the company's 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 Christopher Smith.)
• 100,000 RSUs — Stock Grant (Vesting over four years for the new CFO.)
• 50,000 Stock Options — Stock Option Grant (Vesting over three years for the new CFO.)

Key Players & Entities

• Arhaus, Inc. (company) — Registrant
• Christopher J. K. Smith (person) — Appointed Chief Financial Officer
• $450,000 (dollar_amount) — Annual base salary for new CFO
• June 18, 2024 (date) — Date of report
• June 24, 2024 (date) — Effective date for new CFO
• 100,000 restricted stock units (dollar_amount) — Stock award for new CFO
• 50,000 shares (dollar_amount) — Stock option award for new CFO

FAQ

From the Filing

0001875444-24-000106.txt : 20240624 0001875444-24-000106.hdr.sgml : 20240624 20240624161402 ACCESSION NUMBER: 0001875444-24-000106 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240618 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240624 DATE AS OF CHANGE: 20240624 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Arhaus, Inc. CENTRAL INDEX KEY: 0001875444 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-FURNITURE STORES [5712] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 871729256 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-41009 FILM NUMBER: 241064429 BUSINESS ADDRESS: STREET 1: 51 EAST HINES HILL ROAD CITY: BOSTON HEIGHTS STATE: OH ZIP: 44236 BUSINESS PHONE: 440-439-7700 MAIL ADDRESS: STREET 1: 51 EAST HINES HILL ROAD CITY: BOSTON HEIGHTS STATE: OH ZIP: 44236 8-K 1 arhs-20240618.htm 8-K arhs-20240618 0001875444 false 0001875444 2024-06-18 2024-06-18 UNITED STATES 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): June 18, 2024 ___________________________________ Arhaus, Inc. (Exact name of registrant as specified in its charter) ___________________________________ Delaware (State or other jurisdiction of incorporation or organization) 001-41009 (Commission File Number) 87-1729256 (I.R.S. Employer Identification Number) 51 E. Hines Hill Road , Boston Heights , Ohio (Address of Principal Executive Offices) 44236 (Zip Code) ( 440 ) 439-7700 (Registrant's telephone number, including area code) 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: Title of each class Trading Symbol Name of each exchange on which registered Class A common stock, $0.001 par value per share ARHS The Nasdaq Global Select Market Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Exchange Act of 1934. 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; Co mpensatory Arrangements of Certain Officers. On June 18, 2024, the Board of Directors (the “Board”) of Arhaus, Inc. (the “Company”) appointed Stuart B. Burgdoerfer to Class I of the Board as an independent director under applicable NASDAQ and SEC rules. Mr. Burgdoerfer’s term will expire at the Company’s Annual Meeting of Stockholders in 2025, at which time he will stand for re-election to the Board by the Company’s stockholders. He will serve on the Board’s Audit Committee. In connection with the appointment, the Company increased the size of the Board from nine to ten members. Mr. Burgdoerfer currently serves on