PSQ Holdings, Inc. (PSQH): restructuring charge — PSQ Holdings cuts staff by >35%, executives take voluntary pay reductions

PSQ Holdings, Inc.

Workforce reduced by over 35% under a strategic plan to focus on B2B sales and marketing.
Expected non-recurring severance charge of $355,772.90 plus COBRA costs of $37,367.37 in Q4 2024.
CEO Michael Seifert's base salary cut 25% from $400k to $300k; CFO's cut 20% to $300k.
President Sarah Gabel Seifert's salary reduced 20% to $240k; COO Mike Hebert's cut 10% to $315k.

item 2.05 item 5.02

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

PSQ Holdings, Inc. announced a restructuring with charges of $355,772.90 (over 35%).

Type: restructuring
Charge: $355,772.90
Headcount: over 35%

Exact text from the filing

completed the implementation of a strategic plan (the “Strategic Plan”) to streamline the organization, reducing staff by over 35% and focusing on the people critical to the Company’s B2B focused sales and marketing positioning going forward. The Company expects a non-recurring charge for severance of $355,772.90, in addition to one month of COBRA estimated to total $37,367.37 for those electing to utilize it, primarily incurred in the fourth quarter of 2024.

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PSQ Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0001213900-24-093551

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