secwatch.observer — SEC 8-K summary
======================================

Issuer:     BT Brands, Inc. (BTBD)
CIK:        0001718224
Form:       8-K
Filed at:   2024-10-28T23:59:59+00:00
Accession:  0001477932-24-006689
Event type: leadership
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

BT Brands director Schussler resigns; Fred Croci appointed to board
-------------------------------------------------------------------

- Steven W. Schussler resigned from board and audit committee on October 24, 2024; no disagreement cited.
- Board accelerated vesting of all unvested options granted to Schussler under 2019 Incentive Plan upon resignation.
- Fred Croci appointed to board on October 25, 2024, filling the vacancy; also joins audit and compensation committees.
- Croci granted fully vested options to purchase 5,000 shares at $1.73 per share under 2019 Incentive Plan.
- Board determined Croci is independent under Nasdaq and SEC rules, financially literate for audit committee.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1718224/000147793224006689/0001477932-24-006689-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1718224/000147793224006689/btbd_8k.htm
  HTML page:      https://secwatch.observer/filing/0001477932-24-006689

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer