---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-058191"
form_type: "8-K"
ticker: null
cik: "0000795212"
company_name: "Kaspien Holdings Inc."
filed_at: "2023-12-18T23:59:59+00:00"
generated_at: "2026-06-07T11:33:24.750837+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Kaspien initiates wind-down, voluntary delisting from OTCQB effective Jan 8, 2024

## Summary
- Wind-down plan initiated; substantially all employees reduced; estimated $1.8M in severance/retention costs.
- Additional $1.8M estimated for other wind-down costs; operations substantially completed by May 1, 2024.
- Voluntary delisting from OTCQB effective ~Jan 8, 2024; intends to deregister as public company.
- CEO Brock Kowalchuk retention agreement: $150k bonus; CFO Edwin Sapienza: $140k; both to stay through May 1, 2024.
- Company intends to avoid bankruptcy filing.

## SEC filing metadata
- accession: 0001140361-23-058191
- form_type: 8-K
- cik: 0000795212
- company_name: Kaspien Holdings Inc.
- filed_at: 2023-12-18T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 2.05, 3.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/795212/000114036123058191/0001140361-23-058191-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/795212/000114036123058191/ef20016853_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-058191
- JSON: https://secwatch.observer/filing/0001140361-23-058191.json
- Plain text: https://secwatch.observer/filing/0001140361-23-058191.txt

## Key facts
- Restructurings & Charges
  Kaspien Holdings Inc. announced a restructuring with charges of approximately $1.8 million for retention, severance and other employee termination-related costs affecting the Company's operations (substantially all of the Company's employees).
  - Type: restructuring
  - Charge: approximately $1.8 million for retention, severance and other employee termination-related costs
  - Affected area: the Company's operations
  - Headcount: substantially all of the Company's employees
  source text: execute an orderly wind down of the Company and support the efforts to maximize the value of the Company’s business and assets. The Company’s previous estimate of approximately $1.8 million for retention, severance and other employee termination-related costs in the fourth quarter of 2023 remains unchanged. The Company also estimates that it will incur other wind
  evidence_url: https://www.sec.gov/Archives/edgar/data/795212/000114036123058191/0001140361-23-058191-index.htm

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