---
schema_version: "secwatch.filing_event.v1"
accession: "0001721868-21-000939"
form_type: "8-K"
ticker: "KAYS"
cik: "0001530746"
company_name: "Kaya Holdings, Inc."
filed_at: "2021-12-29T23:59:59+00:00"
generated_at: "2026-06-27T21:55:46.793873+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# Kaya Holdings restructures preferred stock and debt; insiders gain 40% voting power

## Summary
- Director Jordi Arimany resigned Sept. 8, 2021; Mitchell Chupak appointed, receiving 100k shares annually.
- CEO Frank and BMN exchanged Series C Preferred (28.89 common per share, 16.4% combined voting) for Series D Preferred giving 40% voting power on as-converted basis.
- Accrued compensation ($1.176M) reduced: each holder waived ~$338k, deferred $250k to Jan. 1, 2025, removing $676k liabilities and reclassifying $500k as long-term debt.
- Exchange Agreement approved by independent directors on Dec. 26, 2021.

## SEC filing metadata
- accession: 0001721868-21-000939
- form_type: 8-K
- ticker: KAYS
- cik: 0001530746
- company_name: Kaya Holdings, Inc.
- filed_at: 2021-12-29T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1530746/000172186821000939/0001721868-21-000939-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1530746/000172186821000939/f2skays8k122821.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001721868-21-000939
- JSON: https://secwatch.observer/filing/0001721868-21-000939.json
- Plain text: https://secwatch.observer/filing/0001721868-21-000939.txt

## Key facts
- Executive change
  Jordi Arimany resigned as director at Kaya Holdings, Inc..
  - Action: resigned
  - Role: director
  source text: On December 26, 2021 our board of directors accepted the resignation of Jordi Arimany as a director of the Company effective as of September 8, 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1530746/000172186821000939/0001721868-21-000939-index.htm
- Executive change
  Mitchell Chupak was appointed as director at Kaya Holdings, Inc..
  - Action: appointed
  - Role: director
  source text: On December 26, 2021, our board of directors appointed Mitchell Chupak to fill the vacancy created by the resignation of Jordi Arimany.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1530746/000172186821000939/0001721868-21-000939-index.htm

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