---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-011133"
form_type: "8-K"
ticker: "VSTD"
cik: "0001898604"
company_name: "Vestand Inc."
filed_at: "2025-03-21T23:59:59+00:00"
generated_at: "2026-05-24T09:16:02.007484+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Yoshiharu appoints Sungjoon Chae to board; BS1 Fund to provide $1.1M for 440k shares

## Summary
- Sungjoon Chae appointed to board effective March 17, 2025, filling vacancy from Jay Kim's departure.
- BS1 Fund, where Chae is chairman, will provide $1.1M to repay a Crom note in exchange for 440,000 shares at $2.50/share.
- Chae will not serve on any board committees and receives no compensation for board service.
- Chae is an architect/urban designer, CEO of Grundot, and former adjunct professor at Hongik University.

## SEC filing metadata
- accession: 0001493152-25-011133
- form_type: 8-K
- ticker: VSTD
- cik: 0001898604
- company_name: Vestand Inc.
- filed_at: 2025-03-21T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1898604/000149315225011133/0001493152-25-011133-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1898604/000149315225011133/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-011133
- JSON: https://secwatch.observer/filing/0001493152-25-011133.json
- Plain text: https://secwatch.observer/filing/0001493152-25-011133.txt

## Key facts
- Executive change
  Sungjoon Chae was appointed as Director at Vestand Inc..
  - Action: appointed
  - Role: Director
  source text: appointed Mr. Sungjoon Chae to fill the vacancy on the Board
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898604/000149315225011133/0001493152-25-011133-index.htm
- Executive change
  Jay Kim departed as Director at Vestand Inc..
  - Action: departed
  - Role: Director
  source text: the departure of Mr. Jay Kim
  evidence_url: https://www.sec.gov/Archives/edgar/data/1898604/000149315225011133/0001493152-25-011133-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.