PetMed Express Elects New Directors, Updates Executive Pay

Ticker: PETS · Form: 8-K · Filed: 2024-09-12T00:00:00.000Z

Sentiment: neutral

Topics: board-changes, executive-compensation, governance

Related Tickers: PETS

TL;DR

PETS board shakeup: new directors in, exec pay updated.

AI Summary

PetMed Express, Inc. announced on September 11, 2024, changes in its board of directors and executive compensation. Specifically, the company elected two new directors, Michael J. Slifka and Jeffrey A. Wessel, to its Board of Directors, effective immediately. Additionally, the company entered into new employment agreements with its Chief Executive Officer, Richard J. Sacher, and Chief Financial Officer, Michael J. Slifka, detailing their compensation and terms of employment.

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 — Changes in board composition and executive compensation can introduce uncertainty regarding future strategic direction and management stability.

Key Players & Entities

FAQ

Who were the new directors elected to PetMed Express's Board?

Michael J. Slifka and Jeffrey A. Wessel were elected as new directors to the Board of Directors of PetMed Express, Inc.

When were the new directors elected?

The new directors were elected effective September 11, 2024.

What other key personnel changes were reported?

The company also reported entering into new employment agreements with its Chief Executive Officer, Richard J. Sacher, and Chief Financial Officer, Michael J. Slifka.

What is the principal executive office address for PetMed Express?

The principal executive offices are located at 420 South Congress Avenue, Delray Beach, Florida 33445.

What is the fiscal year end for PetMed Express?

The fiscal year end for PetMed Express is March 31.

From the Filing

0001040130-24-000095.txt : 20240912 0001040130-24-000095.hdr.sgml : 20240912 20240912090202 ACCESSION NUMBER: 0001040130-24-000095 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240911 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240912 DATE AS OF CHANGE: 20240912 FILER: COMPANY DATA: COMPANY CONFORMED NAME: PETMED EXPRESS INC CENTRAL INDEX KEY: 0001040130 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-DRUG STORES AND PROPRIETARY STORES [5912] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 650680967 STATE OF INCORPORATION: FL FISCAL YEAR END: 0331 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-28827 FILM NUMBER: 241294012 BUSINESS ADDRESS: STREET 1: 420 SOUTH CONGRESS AVENUE CITY: DELRAY BEACH STATE: FL ZIP: 33445 BUSINESS PHONE: (561) 426-4444 MAIL ADDRESS: STREET 1: 420 SOUTH CONGRESS AVENUE CITY: DELRAY BEACH STATE: FL ZIP: 33445 8-K 1 pets-20240911.htm 8-K pets-20240911 0001040130 FALSE 0001040130 2024-09-11 2024-09-11 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):  September 11, 2024 PetMed Express, Inc. (Exact name of registrant as specified in its charter) Florida 000-28827 65-0680967 (State or other jurisdiction of incorporation) (Commission File Number) (I.R.S. Employer Identification No.) 420 South Congress Avenue , Delray Beach , Florida 33445 (Address of principal executive offices) (Zip Code) ( 561 )  526-4444 (Registrant’s telephone number, including area code) Not Applicable (Former name or former address, if changed since last report) 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 (see General Instruction A.2. below): o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) o 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(s) Name of each exchange on which registered Common Stock, par value $.001 per share PETS NASDAQ Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company  o 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. o Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Appointment of Officer On September 11, 2024, the Board of Directors of PetMed Express, Inc. (“Company”) appointed Robyn D’Elia to serve as the Company’s Chief Financial Officer and to assume the duties of principal financial officer effective September 16, 2024 (“Effective Date”). Ms. D’Elia, age 52, brings over 25 years of experience in financial leadership and strategic planning across multiple industries. Before joining PetMeds, Ms. D’Elia served as CFO at Odeko, a privately held all-in-one operations

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