secwatch.observer — SEC 8-K summary
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Issuer:     REED'S, INC. (REED)
CIK:        0001140215
Form:       8-K
Filed at:   2024-10-24T23:59:59+00:00
Accession:  0001493152-24-042390
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Reed's appoints Sam Van as independent director designee of largest stockholder D&D
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- Sam Van appointed to Reed's board as independent director designee of D&D Source of Life Holding LTD, Reed's largest stockholder.
- D&D invested $3M lead in PIPE (March 2023) and $3M SAFE (Feb 2024) giving right to designate up to three directors.
- Board size limited to nine; D&D's designation rights continue as long as D&D holds 25% or more of Reed's common stock.
- Mr. Van receives standard board compensation of $50K/year pro-rated quarterly; not on any committees yet.
- No material transactions between Reed's and Van since FY2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224042390/0001493152-24-042390-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1140215/000149315224042390/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-24-042390

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