UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On February 28, 2023, the Board of Directors (the “Board”) of Reed’s, Inc., a Delaware corporation (“Reed’s” or the “company”) and Joann Tinnelly, Reed’s Chief Financial Officer, agreed to a compensation structure commensurate with her position as Chief Financial Officer. Ms. Tinnelly’s salary, retroactive to January 1, 2024, is now $300,000. She also received a bonus of $52,500. Ms. Tinnelly is eligible for a discretionary annual performance bonus based on a target of 35% of her annual salary. Ms. Tinnelly is eligible to participate in company benefits available to its executive officers, and she receives a $300 monthly car allowance and a $150 monthly cell phone allowance.
Ms. Tinnelly and the company’s other Section 16 officers and directors have entered, or are expected to, enter into the company’s current form of indemnification agreement which is filed as Exhibit 10.1 to this Current Report on Form 8-K and is incorporated by reference herein.
Item 9.01. Financial Statements and Exhibits.
(d) The following items are filed as exhibits to the Current Report on Form 8-K.
Exhibit No. |
Description | |
| 10.1 | Reed’s, Inc. 2024 Form Indemnification Agreement | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
REEDS, INC., a Delaware corporation | ||
| Dated: March 4, 2024 | By: | /s/ Norman E. Snyder, Jr. |
| Norman E. Snyder, Jr., | ||
| Chief Executive Officer | ||