CEO resigns amid SEC Wells notice; sponsor replacement planned for Q4 2023

Amplify Commodity Trust

Samuel R. Masucci resigned as CEO of sponsor effective July 15, 2023, after receiving SEC Wells notice.
Matthew J. Bromberg appointed Interim CEO effective July 17, 2023; no new compensation arrangements yet.
Sponsor ETF Managers Capital LLC intends to withdraw and appoint Amplify Investments LLC as new sponsor, expected Q4 2023.
SEC investigation alleges non-disclosure of conflicts of interest in securities lending program; settlement discussions ongoing with financial penalties.
Masucci remains a principal due to ownership, but no longer serves as CEO.

item 5.02 item 8.01

Executive movements

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

Departed

Samuel R. Masucci, III

Chief Executive Officer

BDRY · Amplify Commodity Trust

Effective: 2023-07-15
Successor: Matthew J. Bromberg
Filed: July 18, 2023, 7:59 PM ET

Effective as of July 15, 2023, Samuel R. Masucci, III resigned as the Chief Executive Officer of ETF Managers Capital LLC (the “Sponsor”), Sponsor of the Breakwave Dry Bulk Shipping ETF and the Breakwave Tanker Shipping ETF (collectively, the “Funds”), each a series of the ETF Managers Group Commodity Trust I (the “Registrant”).

Appointed (interim)

Matthew J. Bromberg

Interim Chief Executive Officer

BDRY · Amplify Commodity Trust

Effective: 2023-07-17
Filed: July 18, 2023, 7:59 PM ET

Effective July 17, 2023, Matthew J. Bromberg has been appointed Interim Chief Executive Officer of the Sponsor.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Samuel R. Masucci, III resigned as Chief Executive Officer at Amplify Commodity Trust.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Effective as of July 15, 2023, Samuel R. Masucci, III resigned as the Chief Executive Officer of ETF Managers Capital LLC (the “Sponsor”), Sponsor of the Breakwave Dry Bulk Shipping ETF and the Breakwave Tanker Shipping ETF (collectively, the “Funds”), each a series of the ETF Managers Group Commodity Trust I (the “Registrant”).

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Matthew J. Bromberg was appointed as Interim Chief Executive Officer at Amplify Commodity Trust.

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

Effective July 17, 2023, Matthew J. Bromberg has been appointed Interim Chief Executive Officer of the Sponsor.

View on SEC.gov

Amplify Commodity Trust filing history →

Source: SEC EDGAR

accession 0001213900-23-057887

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