8-K
filed October 4, 2024, 7:59 PM ET
CIK 0001643988
leadership
confidence high
sentiment negative
materiality 0.70
Loop Media CFO departs, three directors resign, Ari Olgun named interim CFO
Loop Media, Inc.
- CFO Neil Watanabe departed 9/30/2024; receives $175K severance over 12 months, $198K bonus balance on 9/30/2025, and full equity vesting.
- Three directors (Niermann, Saint-Fleur, Zilka) resigned effective 9/30/2024; Niermann remains in sales and distribution role.
- Ari Olgun appointed Interim CFO effective 10/1/2024; base salary $275K (currently reduced to $230.3K).
- Board deferred FY2024 cash compensation to 9/30/2025 and eliminated FY2025 cash compensation for non-employee directors.
- Non-employee employee stock options repriced to $0.0511/share (closing price 9/27/2024) as retention incentive.
Key facts
Extracted from this filing and checked against the source text.
Executive change
SEC 8-K Item 5.02
confidence 0.95
Sonya Zilka resigned as Director at Loop Media, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective September 30, 2024, each of Mr. Jon Niermann (“ Mr. Niermann ”), Mr. David Saint-Fleur (“ Mr. Saint-Fleur ”) and Ms. Sonya Zilka (“ Ms. Zilka ”) resigned from their positions as Directors of the Board of Directors of Loop Media, Inc.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Ari Olgun was appointed as Interim Chief Financial Officer at Loop Media, Inc..
- Action
- appointed
- Role
- Interim Chief Financial Officer
Exact text from the filing
Effective October 1, 2024, Mr. Ari Olgun (“ Mr. Olgun ”) was appointed to serve as Interim Chief Financial Officer (“ Interim CFO ”) to fill the vacancy created by Mr. Watanabe’s departure from the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
David Saint-Fleur resigned as Director at Loop Media, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective September 30, 2024, each of Mr. Jon Niermann (“ Mr. Niermann ”), Mr. David Saint-Fleur (“ Mr. Saint-Fleur ”) and Ms. Sonya Zilka (“ Ms. Zilka ”) resigned from their positions as Directors of the Board of Directors of Loop Media, Inc.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Neil Watanabe departed as Chief Financial Officer at Loop Media, Inc..
- Action
- departed
- Role
- Chief Financial Officer
Exact text from the filing
Effective as of September 30, 2024 (the “ Departure Effective Date ”), following the expiration of his employment agreement dated September 30, 2021, Mr. Neil Watanabe (“ Mr. Watanabe ”), the Company’s Chief Financial Officer (“ CFO ”), departed from his role as CFO of the Company after three years of service to pursue other opportunities outside of the Company.
View on SEC.gov
Executive change
SEC 8-K Item 5.02
confidence 0.95
Jon Niermann resigned as Director at Loop Media, Inc..
- Action
- resigned
- Role
- Director
Exact text from the filing
Effective September 30, 2024, each of Mr. Jon Niermann (“ Mr. Niermann ”), Mr. David Saint-Fleur (“ Mr. Saint-Fleur ”) and Ms. Sonya Zilka (“ Ms. Zilka ”) resigned from their positions as Directors of the Board of Directors of Loop Media, Inc.
View on SEC.gov
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