8-K
filed March 21, 2024, 7:59 PM ET
ticker STCB
CIK 0001539850
other material
confidence high
sentiment negative
materiality 0.75
Starco Brands removes director, appoints new board; modifies Soylent earnout to 30-day VWAP
Starco Brands, Inc.
- Director Demir Vangelov removed; new board: Ross Sklar, Darin Brown, Bharat Vasan effective March 18, 2024.
- Stockholder Agreement with holders of 84.8% of Soylent former stockholders modifies Share Adjustment calculation.
- Earnout uses 30-day VWAP; first adjustment Feb 15, 2024, second May 15, 2025; additional shares if VWAP < $0.35.
- Agreement may be nullified if certain conditions occur within 60 days; otherwise amendment is in effect.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Demir Vangelov was removed as Director at Starco Brands, Inc..
- Action
- removed
- Role
- Director
Exact text from the filing
passed a resolution removing Demir Vangelov as a member of the Company’s Board and any committees of the Company
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Darin Brown was appointed as Director at Starco Brands, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed a new Board consisting of Ross Sklar, Darin Brown, and Bharat Vasan
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ross Sklar was appointed as Director at Starco Brands, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed a new Board consisting of Ross Sklar, Darin Brown, and Bharat Vasan
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Bharat Vasan was appointed as Director at Starco Brands, Inc..
- Action
- appointed
- Role
- Director
Exact text from the filing
appointed a new Board consisting of Ross Sklar, Darin Brown, and Bharat Vasan
View on SEC.gov
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