---
schema_version: "secwatch.filing_event.v1"
accession: "0001477932-23-002713"
form_type: "8-K"
ticker: "ZSTK"
cik: "0001790169"
company_name: "ZeroStack Corp."
filed_at: "2023-04-18T23:59:59+00:00"
generated_at: "2026-06-17T00:49:23.170815+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Flora Growth appoints JustCBD founder Hussein Rakine as CEO; Merchan resigns

## Summary
- Luis Merchan resigned as Chairman and CEO on April 12, 2023; receives $385K cash severance, $24K health insurance, and 1.6M common shares.
- Hussein Rakine, founder of acquired subsidiary JustCBD, appointed CEO and Director effective April 16, 2023.
- Rakine's employment provides $320K base salary, 100% target bonus, and 1.2M restricted shares vesting June 7, 2023.
- Potential additional $300K in restricted shares for Rakine contingent on shareholder approval of share increase at 2023 annual meeting.
- Merchan's resignation was not due to any disagreement; he will assist with transition.

## SEC filing metadata
- accession: 0001477932-23-002713
- form_type: 8-K
- ticker: ZSTK
- cik: 0001790169
- company_name: ZeroStack Corp.
- filed_at: 2023-04-18T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1790169/000147793223002713/0001477932-23-002713-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1790169/000147793223002713/flora_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001477932-23-002713
- JSON: https://secwatch.observer/filing/0001477932-23-002713.json
- Plain text: https://secwatch.observer/filing/0001477932-23-002713.txt

## Key facts
- Executive change
  Hussein Rakine was appointed as Director at ZeroStack Corp..
  - Action: appointed
  - Role: Director
  source text: The Board appointed Dr. Rakine as a Director to fill the vacancy created by Mr. Merchan’s resignation, as described above
  evidence_url: https://www.sec.gov/Archives/edgar/data/1790169/000147793223002713/0001477932-23-002713-index.htm
- Executive change
  Hussein Rakine was appointed as Chief Executive Officer at ZeroStack Corp..
  - Action: appointed
  - Role: Chief Executive Officer
  source text: On April 16, 2023, the Board appointed Hussein Rakine, the current President of the Company’s subsidiary, Just Brands LLC (“ JustCBD ”), as the Company’s Chief Executive Officer (principal executive officer) and as a Director
  evidence_url: https://www.sec.gov/Archives/edgar/data/1790169/000147793223002713/0001477932-23-002713-index.htm
- Executive change
  Luis Merchan resigned as Chairman and Chief Executive Officer at ZeroStack Corp..
  - Action: resigned
  - Role: Chairman and Chief Executive Officer
  source text: On April 12, 2023, Luis Merchan tendered his resignation as both Chairman of the Board of Directors (the “ Board ”) of Flora Growth Corp., a corporation organized under the laws of the Province of Ontario (“ Flora ” or the Company ”) and as the Company’s Chief Executive Officer
  evidence_url: https://www.sec.gov/Archives/edgar/data/1790169/000147793223002713/0001477932-23-002713-index.htm

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