---
schema_version: "secwatch.filing_event.v1"
accession: "0001213900-23-033240"
form_type: "8-K"
ticker: null
cik: "0001463833"
company_name: "IDW MEDIA HOLDINGS, INC."
filed_at: "2023-04-27T23:59:59+00:00"
generated_at: "2026-06-16T08:46:37.023693+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# IDW Media cuts 39% staff, delists from NYSE American, CEO & CFO replaced; expects $4.4M annual savings

## Summary
- Reduction in force of 28 employees (39% of workforce); expects $4.4M annual savings and $0.9M severance costs in Q2 2023.
- Voluntarily delisting from NYSE American; effective ~May 18, 2023; intends to quote on OTCQB.
- CEO Allan Grafman removed and CFO Brooke Feinstein removed; Davidi Jonas appointed CEO, Amber Huerta promoted to COO.
- Expects cash and equivalents of ~$5.7M as of April 28, 2023, before severance payments.
- Plans to deregister Class B common stock under Section 12(g) and suspend SEC reporting obligations.

## SEC filing metadata
- accession: 0001213900-23-033240
- form_type: 8-K
- cik: 0001463833
- company_name: IDW MEDIA HOLDINGS, INC.
- filed_at: 2023-04-27T23:59:59+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/1463833/000121390023033240/0001213900-23-033240-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1463833/000121390023033240/ea177582-8k_idwmedia.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001213900-23-033240
- JSON: https://secwatch.observer/filing/0001213900-23-033240.json
- Plain text: https://secwatch.observer/filing/0001213900-23-033240.txt

## Key facts
- Executive change
  Davidi Jonas was elected as Chief Executive Officer at IDW MEDIA HOLDINGS, INC..
  - Action: elected
  - Role: Chief Executive Officer
  source text: Effective April 27, 2023, the Board elected Davidi Jonas as the Chief Executive Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463833/000121390023033240/0001213900-23-033240-index.htm
- Executive change
  Allan Grafman was removed as Chief Executive Officer at IDW MEDIA HOLDINGS, INC..
  - Action: removed
  - Role: Chief Executive Officer
  source text: Effective April 27, 2023, the Board removed Allan Grafman from his position as the Chief Executive Officer of the Company, as well as an ex officio (non-voting) director of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463833/000121390023033240/0001213900-23-033240-index.htm
- Executive change
  Brooke Feinstein was removed as Chief Financial Officer at IDW MEDIA HOLDINGS, INC..
  - Action: removed
  - Role: Chief Financial Officer
  source text: Effective April 27, 2023, the Board removed Brooke Feinstein from her position as the Chief Financial Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463833/000121390023033240/0001213900-23-033240-index.htm
- Executive change
  Amber Huerta was elected as Chief Operating Officer at IDW MEDIA HOLDINGS, INC..
  - Action: elected
  - Role: Chief Operating Officer
  source text: Effective April 27, 2023, the Board elected Amber Huerta as the Chief Operating Officer of the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463833/000121390023033240/0001213900-23-033240-index.htm
- Restructurings & Charges
  IDW MEDIA HOLDINGS, INC. announced a restructuring with charges of approximately $0.9 million in severance and related costs (approximately 28 employees, or 39% of its current workforce).
  - Type: restructuring
  - Charge: approximately $0.9 million in severance and related costs
  - Headcount: approximately 28 employees, or 39% of its current workforce
  source text: On April 25, 2023, the Board of Directors (the “Board”) of IDW Media Holdings, Inc. (the “Company”) approved a reduction in force with respect to approximately 28 employees, or 39% of its current workforce. The Board has elected to take these actions to preserve capital and put the Company in a better position possible to unlock value from its assets, including its intellectual property and ability to generate new intellectual property. On April 27, 2023, the Company notified the relevant employees of this reduction in force, which was expected to be completed on the same day. The reduction in force and other steps, after the effect of backfilling certain positions, is expected to deliver approximately $4.4 million in annual savings and will result in approximately $0.9 million in severance and related costs to be recognized in the second quarter of fiscal 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1463833/000121390023033240/0001213900-23-033240-index.htm

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