CEO Sumichrast resigns amid SEC fraud allegations; Thomas Finke appointed CEO

ALLIANCE ENTERTAINMENT HOLDING CORP

Sumichrast resigned as CEO and director on June 1, 2022, following SEC fraud allegations.
SEC complaint alleges Sumichrast defrauded Stone Street Partners, LLC, a private fund he managed prior to Adara.
Thomas Finke appointed CEO; Dylan Glenn replaces Finke on Compensation Committee.
SEC seeks injunctive relief, disgorgement, civil penalties, officer-director bar, and penny stock bar.

item 5.02

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Departed

Martin A. Sumichrast

Director

AENT · ALLIANCE ENTERTAINMENT HOLDING CORP

Effective: 2022-06-01
Filed: June 1, 2022, 7:59 PM ET

On June 1, 2022, Martin A. Sumichrast resigned as Chief Executive Officer and a director of Adara Acquisition Corp.

Appointed

Thomas Finke

Chief Executive Officer

AENT · ALLIANCE ENTERTAINMENT HOLDING CORP

Effective: 2022-06-01
Filed: June 1, 2022, 7:59 PM ET

the Board of Directors of the Company appointed Thomas Finke as Chief Executive Officer

Departed

Martin A. Sumichrast

Chief Executive Officer

AENT · ALLIANCE ENTERTAINMENT HOLDING CORP

Effective: 2022-06-01
Successor: Thomas Finke
Filed: June 1, 2022, 7:59 PM ET

On June 1, 2022, Martin A. Sumichrast resigned as Chief Executive Officer and a director of Adara Acquisition Corp.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 1.0

Martin A. Sumichrast resigned as Director at ALLIANCE ENTERTAINMENT HOLDING CORP.

Action: resigned
Role: Director

Exact text from the filing

On June 1, 2022, Martin A. Sumichrast resigned as Chief Executive Officer and a director of Adara Acquisition Corp.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Thomas Finke was appointed as Chief Executive Officer at ALLIANCE ENTERTAINMENT HOLDING CORP.

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

the Board of Directors of the Company appointed Thomas Finke as Chief Executive Officer

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 1.0

Martin A. Sumichrast resigned as Chief Executive Officer at ALLIANCE ENTERTAINMENT HOLDING CORP.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On June 1, 2022, Martin A. Sumichrast resigned as Chief Executive Officer and a director of Adara Acquisition Corp.

View on SEC.gov

ALLIANCE ENTERTAINMENT HOLDING CORP filing history →

Source: SEC EDGAR

accession 0001104659-22-067013

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