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.
On March 4, 2022, Ryan Allison, Chief Operating Officer of Jupiter Wellness, Inc., a Delaware corporation (the “Company”), resigned by mutual agreement from such position effective immediately (the “Resignation Date”). Mr. Allison’s resignation is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or procedures.
In connection with Mr. Allison’s resignation, the Company entered into a Separation Agreement with Mr. Allison (the “Separation Agreement”), dated March 4, 2022. The Separation Agreement provides that in consideration of Mr. Allison’s execution and non-revocation of a release of claims in favor of the Company and his agreement to abide by certain restrictive covenants:
| ● | The Company will maintain Mr. Allison’s health plan coverage through March 31, 2022; and | |
| ● | Mr. Allison will be entitled to retain his incentive stock options not yet exercised, which deemed to have vested in full on the Resignation Date; |
Other than what is provided for in the Separation Agreement, Mr. Allison will not be entitled to any other compensation, payments or benefits from the Company or affiliates in connection with his resignation.
The Nominating and Corporate Governance Committee of the Board of Directors will commence a search to identify a new Chief Operating Officer.
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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: March 7, 2022
| JUPITER WELLNESS, INC. | ||
| By: | /s/ Brian John | |
| Brian John | ||
| Chief Executive Officer | ||
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