---
schema_version: "secwatch.filing_event.v1"
accession: "0001654954-22-008290"
form_type: "8-K/A"
ticker: "YCBD"
cik: "0001644903"
company_name: "cbdMD, Inc."
filed_at: "2022-06-14T23:59:59+00:00"
generated_at: "2026-06-25T02:01:39.790050+00:00"
event_type: "leadership"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# CEO Martin Sumichrast resigns amid SEC action; separation includes $590K and 400K RSUs

## Summary
- Sumichrast resigned as CEO and board member effective June 11, 2022; SEC filed an action against him for a prior private company role, with no allegations against cbdMD.
- Separation Agreement includes $590,000 over 16 months, COBRA for 12 months, and 400,000 RSUs vesting in July 2022 and January 2023.
- Board member Scott Stephen named Board Chair; Scott Coffman to consult until a new CEO is appointed.
- Previously issued unvested RSUs terminate per the Separation Agreement and original grant terms.

## SEC filing metadata
- accession: 0001654954-22-008290
- form_type: 8-K/A
- ticker: YCBD
- cik: 0001644903
- company_name: cbdMD, Inc.
- filed_at: 2022-06-14T23:59:59+00:00
- event_type: leadership
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1644903/000165495422008290/0001654954-22-008290-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1644903/000165495422008290/ycbd_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001654954-22-008290
- JSON: https://secwatch.observer/filing/0001654954-22-008290.json
- Plain text: https://secwatch.observer/filing/0001654954-22-008290.txt

## Key facts
- Executive change
  Martin A. Sumichrast resigned as Chief Executive Officer at cbdMD, Inc..
  - Action: resigned
  - Role: Chief Executive Officer
  source text: whereby he resigned as the Company’s Chief Executive Officer, member of the Board of Directors, employee, and all other capacities from the Company, effective June 11, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1644903/000165495422008290/0001654954-22-008290-index.htm

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