Turning Point Brands, Inc. — fact timeline

Turning Point Brands, Inc. reported first quarter ended March 31, 2026 results: revenue Total Consolidated Net Sales increased 16.8% to $124.3 million, net income Net Income decreased 19.0% to $11.7 million, EPS Diluted EPS of $0.60. Guidance raised.

“Turning Point Brands, Inc . (“TPB” or “the Company”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, today announced financial results for the first quarter ended March 31, 2026 . Q1 2026 Financial Highlights (All results reflect comparisons to prior-year period) ● Total Consolidated Net Sales increased 16.8% to $124.3 million o Stoker's segment Net Sales increased 48.1% o Zig-Zag segment Net Sales decreased 22.4% ● Gross Profit increased 14.6% to $68.3 million ● Net Income decreased 19.0% to $11.7 million ● Adjusted EBITDA decreased 6.5% to $25.9 million (see Schedule A for a reconciliation to net income) ● Diluted EPS of $0.60 and Adjusted Diluted EPS of $0.76 compared to $0.79 and $0.91 respectively, in the same period one year ago”

Turning Point Brands, Inc. shareholders approved Advisory vote to approve named executive officer compensation at the 2026-05-04 meeting.

“(3) Advisory vote to approve named executive officer compensation: For 14,561,464 Against 324,126 Abstain 96,167 Broker Non-Votes 2,055,552”

Turning Point Brands, Inc. shareholders approved Ratification of KPMG LLP as independent registered public accountant for the year ending December 31, 2026 at the 2026-05-04 meeting.

“(2) Ratification of KPMG LLP as independent registered public accountant for the year ending December 31, 2026: For 16,869,195 Against 130,747 Abstain 37,367 Broker Non-Votes -”

Turning Point Brands, Inc. shareholders approved Election of Directors at the 2026-05-04 meeting.

“Election of Directors: Nominee Votes For Votes Withheld Broker Non-Votes Gregory H.A. Baxter 14,783,749 198,008 2,055,552 John A. Catsimatidis Jr. 14,835,940 145,817 2,055,552 H.C. Charles Diao 14,751,756 230,001 2,055,552 Ashley D. Frushone 14,636,944 344,813 2,055,552 David E. Glazek 14,754,180 227,577 2,055,552 Graham A. Purdy 14,799,438 182,319 2,055,552 Rohith Reddy 14,785,554 196,203 2,055,552 Kathleen M. Shanahan 14,827,330 154,427 2,055,552 Stephen Usher 14,797,592 184,165 2,055,552 Lawrence S. Wexler 14,788,619 193,138 2,055,552”

Turning Point Brands, Inc. engaged KPMG LLP as its auditor.

“On March 7, 2025, the Audit Committee approved the appointment of KPMG LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31, 2025, effective immediately”

Turning Point Brands, Inc. dismissed RSM US LLP as its auditor.

“On March 7, 2025, the Committee, together with the Board, jointly made the decision to dismiss RSM US LLP as the Company’s independent registered public accounting firm”

Turning Point Brands, Inc. shareholders approved Advisory vote to approve named executive officer compensation at the 2024-05-01 meeting.

“(3) Advisory vote to approve named executive officer compensation: For 12,814,333 Against 446,802 Abstain 120,408 Broker Non-Votes 2,100,991”

Turning Point Brands, Inc. shareholders approved Ratification of RSM US LLP as independent registered public accountant for the year ending December 31, 2024 at the 2024-05-01 meeting.

“(2) Ratification of RSM US LLP as independent registered public accountant for the year ending December 31, 2024: For 15,208,310 Against 113,251 Abstain 160,973 Broker Non-Votes -”

Turning Point Brands, Inc. shareholders approved Election of Directors at the 2024-05-01 meeting.

“(1) Election of Directors: Nominee Votes For Votes Withheld Broker Non-Votes Gregory H.A. Baxter 7,396,090 5,985,453 - John A. Catsimatidis JR 13,144,474 237,069 - H.C. Charles Diao 7,342,316 6,039,227 - Ashley D. Frushone 7,312,648 6,068,895 - David E. Glazek 12,394,719 986,824 - Graham A. Purdy 12,965,358 416,185 - Rohith Reddy 12,869,328 512,215 - Stephen Usher 13,066,362 315,181 - Lawrence S. Wexler 12,631,877 749,666 -”

Turning Point Brands, Inc. reported first quarter ended March 31, 2024 results: net income Net income increased 58.1% to $12.0 million, EPS Diluted EPS of $0.63 and Adjusted Diluted EPS of $0.80. Guidance reaffirmed.

“Turning Point Brands, Inc. (“TPB” or “the Company”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, including alternative smoking accessories and consumables with active ingredients, announced today financial results for the first quarter ended March 31, 2024.”

John Catsimatidis Jr. was appointed as Director at Turning Point Brands, Inc..

“the Board has nominated John Catsimatidis Jr. to stand for election as a director at the Company’s 2024 Annual Meeting.”

Arnold Zimmerman retired as Director at Turning Point Brands, Inc..

“On March 20, 2024, Arnold Zimmerman notified the Board of Directors (the “Board”) of Turning Point Brands, Inc. (“Turning Point” or the “Company”) of his decision to retire as a director after eleven years of distinguished service effective upon the expiration of his term at the 2024 Annual Meeting of Stockholders in May 2024.”

Andrew Flynn was appointed as Senior Vice President and Chief Financial Officer at Turning Point Brands, Inc..

“The Board of Directors of the Company (the “Board”) has appointed Andrew Flynn to serve as Senior Vice President and Chief Financial Officer of the Company, with an anticipated start date of April 1, 2024, to take Mr. Reformina’s position.”

Louie Reformina departed as Senior Vice President and Chief Financial Officer at Turning Point Brands, Inc..

“Louie Reformina, Senior Vice President and Chief Financial Officer of the Company, would be stepping down from his position in order to pursue other opportunities, effective as of March 8, 2024.”

Turning Point Brands, Inc. reported third quarter ended September 30, 2023 results: revenue $101.7 million, net income $10.8 million, EPS $0.58. Guidance raised.

“with active ingredients, announced today financial results for the third quarter ended September 30, 2023. Q3 2023 vs. Q3 2022 • Total consolidated net sales decreased 5.6% to $101.7 million o Zig-Zag Products net sales decreased by 10.2% but stable sequentially o Stoker’s Products net sales increased by 10.1% o Creative Distribution Solutions net sales decreased by”

Turning Point Brands, Inc. updated its full-year 2023 guidance (raised).

“At this time, the Company expects full-year 2023 adjusted EBITDA to be $90 to $95 million (compared to previous outlook of $88 to $94 million).”

Turning Point Brands, Inc. reported the second quarter ended June 30, 2023 results: revenue $105.6 million, net income $9.9 million, EPS $0.53. Guidance raised.

“Q2 2023 vs. Q2 2022 • Total consolidated net sales increased 2.6% to $105.6 million o Zig-Zag Products net sales increased by 1.1% o Stoker’s Products net sales increased by 7.3% o Creative Distribution Solutions net sales decreased by 1.3% • Gross profit increased 2.0% to $52.5 million • Net income increased 83.0% to $9.9 million • Adjusted net income increased 8.4% to $15.3 million (see Schedule B for a reconciliation to net income) • Adjusted EBITDA increased 2.2% to $25.3 million (see Schedule A for a reconciliation to net income) • Diluted EPS of $0.53 and Adjusted Diluted EPS of $0.79 compared to $0.30 and $0.70 in the same period one year ago, respectively”

Turning Point Brands, Inc. entered into Amendment to Revolving Credit Agreement dated February 11, 2021 with Barclays Bank PLC, as administrative agent and collateral agent valued at Amendment to secured revolving credit facility (effective 2023-05-10).

“On May 10, 2023, Turning Point Brands, Inc. (the “Company”) and certain of its subsidiaries, as guarantors, entered into an amendment (the “Amendment”) to the revolving credit agreement governing the Company’s secured revolving credit facility, dated as of February 11, 2021 (the “Credit Agreement”) by and among the Company, the obligors party thereto, Barclays Bank PLC, as administrative agent and collateral agent , and the lenders party thereto.”

Turning Point Brands, Inc. shareholders rejected A shareholder proposal regarding strategic alternatives for the NewGen business at the 2023-05-03 meeting.

“(4) A shareholder proposal regarding strategic alternatives for the NewGen business: For 500,107 Against 10,333,596 Abstain 25,851 Broker Non-Votes 2,447,676”

Turning Point Brands, Inc. shareholders approved Advisory vote to approve named executive officer compensation at the 2023-05-03 meeting.

“(3) Advisory vote to approve named executive officer compensation: For 10,637,880 Against 208,049 Abstain 13,625 Broker Non-Votes 2,447,676”

Turning Point Brands, Inc. shareholders approved Ratification of RSM US LLP as independent auditors for the year ending December 31, 2023 at the 2023-05-03 meeting.

“(2) Ratification of RSM US LLP as independent auditors for the year ending December 31, 2023: For 13,262,151 Against 30,156 Abstain 14,923 Broker Non-Votes -”

Turning Point Brands, Inc. shareholders approved Election of Directors at the 2023-05-03 meeting.

“(1) Election of Directors: Nominee Votes For Votes Withheld Broker Non - Votes Gregory H.A. Baxter 8,529,760 2,329,794 - H.C. Charles Diao 10,170,200 689,354 - Ashley D. Frushone 8,376,534 2,483,020 - David Glazek 10,472,703 386,851 - Graham Purdy 10,743,629 115,925 - Rohith Reddy 10,822,643 36,911 - Stephen Usher 10,763,034 96,520 - Lawrence S. Wexler 10,472,863 386,691 - Arnold Zimmerman 10,748,847 110,707 -”

Turning Point Brands, Inc. reported first quarter ended March 31, 2023 results: net income net income decreased 30.9% to $7.6 million, EPS Diluted EPS of $0.41. Guidance reaffirmed.

“Turning Point Brands, Inc. (the “Company”) issued a press release announcing its financial results for the first quarter ended March 31, 2023.”

Assia Grazioli-Venier departed as Director at Turning Point Brands, Inc..

“she will not stand for reelection as a director of the Company at the 2023 Annual Meeting of Stockholders”

Turning Point Brands, Inc. reported the full year ended December 31, 2022 results: revenue $415.0 million, net income $11.6 million, EPS $0.64.

“Total consolidated net sales decreased 6.8% to $415.0 million”

Turning Point Brands, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $103.4 million, net income $($16.3) million, EPS $(0.93).

“Total consolidated net sales decreased 1.8% to $103.4 million”

David Glazek changed role as Executive Chair at Turning Point Brands, Inc..

“David Glazek, Chairman of the Board, will transition to the role of Executive Chair effective January 2023.”

Graham A. Purdy was appointed as President and Chief Executive Officer at Turning Point Brands, Inc..

“the Board appointed Graham A. Purdy as President and Chief Executive Officer of the Company and as a member of the Board, effective as of October 16, 2022.”

Yavor Efremov resigned as Chief Executive Officer and President at Turning Point Brands, Inc..

“As part of this transition, Mr. Yavor Efremov has resigned as Chief Executive Officer and President and from the Board of Directors (the “ Board ”), effective as of October 15, 2022.”

Yavor Efremov was appointed as President and Chief Executive Officer at Turning Point Brands, Inc..

“the Board has appointed Yavor Efremov to succeed Larry Wexler as President and Chief Executive Officer of the Company, effective as of January 11, 2022.”

Larry Wexler departed as Chief Executive Officer at Turning Point Brands, Inc..

“Mr. Wexler intends to retire as Chief Executive Officer effective January 10, 2022 after 18 years with the Company.”

Yavor Efremov was appointed as Director at Turning Point Brands, Inc..

“On July 9, 2021, the Board of Directors (the “Board”) of Turning Point Brands, Inc. (the “Company”), determined, upon the recommendation of its Nominating and ESG Committee to increase the size of the Board from eight to nine directors, and has appointed Yavor Efremov to fill the vacant board position, effective July 9, 2021.”