CEO Merryman to step down upon hire of new CEO; stays as CFO/interim CEO; gets accelerated RSU vesting, $1.33M severance

Rocky Mountain Chocolate Factory, Inc.

Bryan J. Merryman voluntarily steps down as President and CEO upon hiring of successor; remains CFO and interim CEO until then.
Board accelerated vesting of 66,667 unvested RSUs granted to Merryman, effective Nov 3, 2021.
Amendment provides $1,326,813 termination payment plus $18,000 for insurance coverage upon any termination; company to fund $1.34M rabbi trust.
Non-compete revised to two years covering US/Canada chocolate manufacturing/retail; change-in-control gross-up limited to events prior to Nov 3, 2021.
Outplacement reimbursement up to $53,250 over two years; consulting agreement option until Nov 3, 2022.

item 5.02 item 9.01

Executive movements

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Role change (interim)

Bryan J. Merryman

Chief Financial Officer and interim President and Chief Executive Officer

RMCF · Rocky Mountain Chocolate Factory, Inc.

Effective: 2021-11-03
Filed: November 9, 2021, 6:59 PM ET

Bryan J. Merryman agreed to voluntarily step down as President and Chief Executive Officer ("CEO") of Rocky Mountain Chocolate Factory, Inc. (the "Company") upon the hiring of a new President and CEO for the Company.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Bryan J. Merryman changed role as Chief Financial Officer and interim President and Chief Executive Officer at Rocky Mountain Chocolate Factory, Inc..

Action: stepped down
Role: Chief Financial Officer and interim President and Chief Executive Officer

Exact text from the filing

Bryan J. Merryman agreed to voluntarily step down as President and Chief Executive Officer ("CEO") of Rocky Mountain Chocolate Factory, Inc. (the "Company") upon the hiring of a new President and CEO for the Company.

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Rocky Mountain Chocolate Factory, Inc. filing history →

Source: SEC EDGAR

accession 0001437749-21-025791

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