secwatch.observer — SEC 8-K summary
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Issuer:     JONES SODA CO. (JSDA)
CIK:        0001083522
Form:       8-K
Filed at:   2023-06-13T23:59:59+00:00
Accession:  0001437749-23-017219
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Jones Soda appoints David Knight as President and CEO; Mark Murray retires June 23, 2023
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- Mark Murray retires as CEO effective June 23, 2023; receives severance of $221,346 plus health benefits through 2023.
- David Knight, age 59, appointed as President and CEO effective June 23, 2023, with 37 years of experience at PepsiCo, eBay, and others.
- Knight will receive base salary of $350,000, eligible for annual cash bonus up to $350,000 tied to revenue target of $23.452M and EBITDA target of -$959,000.
- Knight granted non-qualified stock options to purchase 4 million shares under the 2022 Omnibus Equity Plan, vesting over three years.
- Murray remains on the board; severance includes continuation of vested stock options and unvested RSUs while a director.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1083522/000143774923017219/0001437749-23-017219-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1083522/000143774923017219/jsda20230612_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-23-017219

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