cbdMD co-CEO Scott Coffman retires; Kevin MacDermott named President

cbdMD, Inc.

Scott Coffman retired as Co-CEO and President effective May 16, 2022; remains on board as vice-chairman.
Martin Sumichrast continues as CEO and Chairman.
Kevin MacDermott hired as President; base salary $285,000, increases to $350,000 upon first positive quarterly Adjusted EBITDA.
MacDermott granted 125,000 restricted shares and options to purchase 405,000 shares at $0.84, vesting over three years.
CFO T. Ronan Kennedy received a $100,000 performance bonus.

item 5.02 item 9.01

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Appointed

Kevin MacDermott

President

YCBD · cbdMD, Inc.

Effective: 2022-05-16
Filed: May 17, 2022, 7:59 PM ET

On the Effective Date, the Company entered into an Executive Employment Agreement with Kevin MacDermott pursuant to which Mr. MacDermott was hired to serve as the Company’s President.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Kevin MacDermott was appointed as President at cbdMD, Inc..

Action: hired
Role: President

Exact text from the filing

On the Effective Date, the Company entered into an Executive Employment Agreement with Kevin MacDermott pursuant to which Mr. MacDermott was hired to serve as the Company’s President.

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cbdMD, Inc. filing history →

Source: SEC EDGAR

accession 0001654954-22-007071

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