UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
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Securities registered pursuant to Section 12(b) of the Act:
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (CFR §230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (CFR §240.12b-2 of this chapter).
Emerging
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If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 5.02 Compensatory Arrangements of Certain Officers.
Eastside Distilling Inc. (“Eastside”) has entered into an Executive Employment Agreement with Geoffrey Gwin dated July 3, 2024. The “Effective Date” of the Agreement is as of January 1, 2024.
The Agreement provides that Mr. Gwin will serve as Chief Executive Officer of Eastside on a full-time basis until the third anniversary of the Effective Date. Mr. Gwin will also function as Eastside’s Chief Financial Officer and Chief Compliance Officer without additional compensation, and will serve as Chairman of the Eastside Board of Directors with such compensation as the Board may grant.
The Agreement provides that Eastside will pay Mr. Gwin a base salary of $300,000 per year for the first year of his term of employment. The Compensation Committee will review Mr. Gwin’s compensation on an annual basis, and may replace the terms of compensation by agreement with Mr. Gwin.
Either Eastside or Mr. Gwin may terminate Mr. Gwin’s employment at will. If Eastside terminates the employment without cause or Mr. Gwin terminates his employment with good reason, Eastside will continue to pay Mr. Gwin’s salary for the lesser of twelve months or the remaining term of employment.
Item 9.01 Financial Statements and Exhibits
Exhibits
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 hereunto duly authorized.
Date: July 10, 2024
| EASTSIDE DISTILLING, INC. | ||
| By: | /s/ Geoffrey Gwin | |
| Geoffrey Gwin | ||
| Chief Executive Officer | ||