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
Date of Report (Date of earliest event reported): January 11, 2023 (
(Exact name of registrant as specified in its charter)
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| (State or Other Jurisdiction of Incorporation) | (Commission File Number) | (I.R.S Employer Identification No.) |
(Address of principal executive offices and Zip Code)
(Registrant’s telephone number, including area code)
(Former name or former address, if changed since last report)
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 (see General Instruction A.2. below):
Securities registered pursuant to Section 12(b) of the Act:
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| (Title of class) | (Trading symbol) | (Name of each exchange on which registered) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
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.
☐
The information disclosed in Item 5.02 is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the Exchange Act), or otherwise subject to the liabilities under that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act except as expressly set forth by specific reference in such filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 4, 2023, the Board of Directors of the Company unanimously approved expanding the number of Board members from five to six, and approved adding Mr. Brad Stoots to the Company’s Board of Directors. Mr. Stoots previously served as Office Managing Partner for Grant Thornton LLP in Tulsa, OK. Mr. Stoots qualifies as a financial expert under the guidelines published by the Securities and Exchange Commission and, along with the remaining independent directors, is expected to serve on the Audit, Compensation and Governance Committees. Mr. Stoots is being added as a Class I Director and will be included in the 2023 Proxy Statement ballot.
SIGNATURE
Pursuant to the requirements of the Exchange Act, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Educational Development Corporation |
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By: |
/s/ Craig M. White |
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Craig M. White |
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President and Chief Executive Officer |
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Date: |
January 11, 2023 |
Document And Entity Information |
Jan. 04, 2023 |
|---|---|
| Document Information Line Items | |
| Entity Registrant Name | EDUCATIONAL DEVELOPMENT CORPORATION |
| Trading Symbol | EDUC |
| Document Type | 8-K |
| Amendment Flag | false |
| Entity Central Index Key | 0000031667 |
| Document Period End Date | Jan. 04, 2023 |
| Entity Emerging Growth Company | false |
| Entity Incorporation, State or Country Code | DE |
| Entity File Number | 000-04957 |
| Entity Tax Identification Number | 73-0750007 |
| Entity Address, Address Line One | 5402 S 122nd E Avenue |
| Entity Address, City or Town | Tulsa |
| Entity Address, State or Province | OK |
| Entity Address, Postal Zip Code | 74146 |
| City Area Code | (918) |
| Local Phone Number | 622-4522 |
| Written Communications | false |
| Soliciting Material | false |
| Pre-commencement Tender Offer | false |
| Pre-commencement Issuer Tender Offer | false |
| Title of 12(b) Security | Common Stock, $.20 par value |
| Security Exchange Name | NASDAQ |
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