---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-22-067013"
form_type: "8-K"
ticker: "AENT"
cik: "0001823584"
company_name: "ALLIANCE ENTERTAINMENT HOLDING CORP"
filed_at: "2022-06-01T23:59:59+00:00"
generated_at: "2026-06-25T05:34:49.920035+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-22-067013
- form_type: 8-K
- ticker: AENT
- cik: 0001823584
- company_name: ALLIANCE ENTERTAINMENT HOLDING CORP
- filed_at: 2022-06-01T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 5.02
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823584/000110465922067013/0001104659-22-067013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823584/000110465922067013/tm2217473d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-22-067013
- JSON: https://secwatch.observer/filing/0001104659-22-067013.json
- Plain text: https://secwatch.observer/filing/0001104659-22-067013.txt

## Key facts
- Executive change
  Martin A. Sumichrast resigned as Director at ALLIANCE ENTERTAINMENT HOLDING CORP.
  - Action: resigned
  - Role: Director
  source text: On June 1, 2022, Martin A. Sumichrast resigned as Chief Executive Officer and a director of Adara Acquisition Corp.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823584/000110465922067013/0001104659-22-067013-index.htm
- Executive change
  Thomas Finke was appointed as Chief Executive Officer at ALLIANCE ENTERTAINMENT HOLDING CORP.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: the Board of Directors of the Company appointed Thomas Finke as Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823584/000110465922067013/0001104659-22-067013-index.htm
- Executive change
  Martin A. Sumichrast resigned as Chief Executive Officer at ALLIANCE ENTERTAINMENT HOLDING CORP.
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On June 1, 2022, Martin A. Sumichrast resigned as Chief Executive Officer and a director of Adara Acquisition Corp.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823584/000110465922067013/0001104659-22-067013-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.