---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-25-000221"
form_type: "8-K"
ticker: "TLF"
cik: "0000909724"
company_name: "TANDY LEATHER FACTORY INC"
filed_at: "2025-01-03T23:59:59+00:00"
generated_at: "2026-05-28T17:12:08.164562+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Tandy Leather Factory appoints new CEO; Janet Carr resigns, stays through March 2025

## Summary
- CEO Janet Carr resigns effective Jan 3; stays as non-executive through March 31, receives $310K retention bonus.
- Johan Hedberg appointed CEO effective Jan 6; base salary $425K, target bonus 50% of base, max 100%.
- Hedberg receives 100K RSUs (1-year vest) and up to 900K performance RSUs tied to six targets.
- Director James Pappas resigns; John 'Rocky' Sullivan appointed to board; Sullivan is from JCP Investment Management (holds ~10% of TLF).

## SEC filing metadata
- accession: 0001140361-25-000221
- form_type: 8-K
- ticker: TLF
- cik: 0000909724
- company_name: TANDY LEATHER FACTORY INC
- filed_at: 2025-01-03T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/909724/000114036125000221/0001140361-25-000221-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/909724/000114036125000221/ef20041106_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-25-000221
- JSON: https://secwatch.observer/filing/0001140361-25-000221.json
- Plain text: https://secwatch.observer/filing/0001140361-25-000221.txt

## Key facts
- Executive change
  Janet Carr resigned as Chief Executive Officer at TANDY LEATHER FACTORY INC.
  - Action: resigned
  - Role: Chief Executive Officer
  source text: On January 2, 2025, Janet Carr submitted her resignation as Chief Executive Officer, principal financial officer and a member of the Board of Directors of Tandy Leather Factory, Inc. (the “Company”), effective as of the close of business on January 3, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/909724/000114036125000221/0001140361-25-000221-index.htm
- Executive change
  James Pappas resigned as Director at TANDY LEATHER FACTORY INC.
  - Action: resigned
  - Role: Director
  source text: On January 2, 2025, James Pappas resigned as a member of the Company’s Board of Directors and its Nominating and Governance Committee, effective as of January 3, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/909724/000114036125000221/0001140361-25-000221-index.htm
- Executive change
  Johan Hedberg was appointed as Chief Executive Officer at TANDY LEATHER FACTORY INC.
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On January 2, 2025, the Company’s Board of Directors appointed Johan Hedberg as the Company’s new Chief Executive Officer and a member of its Board of Directors, effective as of January 6, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/909724/000114036125000221/0001140361-25-000221-index.htm
- Executive change
  John "Rocky" Sullivan was appointed as Director at TANDY LEATHER FACTORY INC.
  - Action: appointed
  - Role: Director
  source text: On January 2, 2025, the Board of Directors of the Company appointed John “Rocky” Sullivan to the Company’s Board of Directors and its Nominating and Governance Committee, effective as of January 6, 2025.
  evidence_url: https://www.sec.gov/Archives/edgar/data/909724/000114036125000221/0001140361-25-000221-index.htm

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