Edible Garden CFO Michael James retires; interim CFO appointed; bylaws amended
Edible Garden AG Inc
CFO Michael James retired Jan 25, 2024; separation agreement provides $300k salary continuation over 12 months, up to $300k milestone payments, and $25k restricted stock award.
Kostas Dafoulas appointed interim CFO; he remains Head of Advisory at CapConnect, compensated at $300/hr via consulting agreement.
Bylaws amended to reduce stockholder quorum from majority to one-third; vote requirement changed to majority of votes cast for non-director matters.
Company entered indemnification agreements with all directors and executive officers, covering Losses to fullest extent under Delaware law.
Effective January 25, 2024, the Board appointed Kostas Dafoulas to serve as the Company’s interim Chief Financial Officer following the retirement of Mr. James.
Effective January 25, 2024, Michael James retired from his positions as Chief Financial Officer, Treasurer, Secretary and Director of the Company.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.95
Kostas Dafoulas was appointed as Chief Financial Officer at Edible Garden AG Inc.
Action
appointed
Role
Chief Financial Officer
Exact text from the filing
Effective January 25, 2024, the Board appointed Kostas Dafoulas to serve as the Company’s interim Chief Financial Officer following the retirement of Mr. James.
Edible Garden AG Inc: Reduced stockholder meeting quorum from majority to at least one-third of shares entitled to vote; changed vote required for matters (other than director elections) from majority of shares present to majority of votes cast (effective 2024-01-24).
Change
bylaw amendment
Effective
2024-01-24
Exact text from the filing
On January 24, 2024, the Board approved an amendment to the Company’s Amended and Restated Bylaws (the “Amendment”). The Amendment, which became effective immediately, reduces the quorum requirement at all meetings of the Company’s stockholders from a majority of the voting power of the Company’s shares issued and outstanding and entitled to vote at the meeting to at least one-third of the shares entitled to vote at the meeting. 2 To align with recent amendments to the General Corporation Law of the State of Delaware, the Amendment also changes the vote required at meetings of the Company’s stockholders for any matter, other than the election of directors, from the affirmative vote of the majority of shares present in person or represented by proxy at the meeting and entitled to vote on the matter to a majority of votes cast on the matter.
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