President LoCascio steps down; Greenlane secures $8M bridge loan, reports $8M synergies

Greenlane Holdings, Inc.

President and co-founder Aaron LoCascio steps down effective Dec 31, 2021; remains on Board.
LoCascio receives $267,420 cash severance, 2021 bonus eligibility, and retains equity awards.
Adam Schoenfeld transitions from Chief Strategy Officer to Chief Marketing Officer, eliminating CSO role.
Company achieved ~$8M cost synergies post-KushCo merger; reaffirms $15-20M target within 24 months.
Company secures $8M bridge loan from LoCascio at 15% interest, matured June 30, 2022, secured by all assets.

item 5.02 item 7.01 item 8.01 item 9.01

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Departed

Aaron LoCascio

President

GNLN · Greenlane Holdings, Inc.

Effective: 2021-12-31
Filed: January 4, 2022, 6:59 PM ET

Mr. LoCascio’s decision to step down as President of the Company and enter into the Separation Agreement is due to his desire to pursue other interests

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Aaron LoCascio departed as President at Greenlane Holdings, Inc..

Action: stepped down
Role: President

Exact text from the filing

Mr. LoCascio’s decision to step down as President of the Company and enter into the Separation Agreement is due to his desire to pursue other interests

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Greenlane Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-22-000720

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