8-K
Bark, Inc. (BARK)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date Earliest Event Reported):
May 1, 2023
BARK, Inc.
(Exact name of registrant as specified in its charter)
| Delaware | 001-39691 | 85-1872418 |
|---|---|---|
| (State or Other Jurisdiction<br><br>of Incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
| 120 Broadway, Floor 12<br><br>New York, NY | 10271<br><br>(Zip Code) | |
| (Address of Principal Executive Offices) |
(855) 501-2275
(Registrant’s telephone number, including area code)
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:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|---|---|
| ☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br><br>Symbol(s) | Name of each exchange on<br><br>which registered |
|---|---|---|
| Common Stock, par value $0.0001 | BARK | New York Stock Exchange |
| Warrants, each warrant exercisable for one share of Common Stock at an exercise price of $11.50 per share | BARK WS | New York Stock Exchange |
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. ☐
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On May 1, 2023, BARK, Inc. (the “Company”) announced that Brian Dostie joined as its Vice President, Accounting and Controller effective May 1, 2023. Kevin Eyerman ceased serving in the capacity of Principal Accounting Officer of the Company effective as of May 1, 2023 and will be leaving the Company after a short transition period.
Mr. Dostie, age 49, most recently served as Vice President, Accounting and Controllership since October 2021 of 80 Acres Urban Agriculture, Inc., doing business as 80 Acres Farms, a provider of indoor farming services, where he oversaw various financial functions including accounting and reporting, audit, and treasury. Prior to that role, he served at National Instruments Corporation, a public company, for over 20 years. His most recent role at National Instruments Corporation, a producer of automated test equipment and virtual instrumentation software, was Corporate Controller, from May 2018 to September 2021, where he was responsible for accounting, SEC reporting, treasury, and finance shared services. Mr. Dostie earned a B.A. in Finance from the University of Cincinnati, and an M.B.A. from Rutgers University.
Mr. Dostie’s offer letter with the Company provides for an annual compensation package consisting of a base salary of $270,000 and a target bonus opportunity of 30% of base salary (prorated for fiscal year 2024). Mr. Dostie will also receive an initial grant of 75,000 restricted stock units and 25,000 options to purchase common stock of the Company under the Company’s 2021 Equity Incentive Plan, each of which will vest 25% on May 10, 2024 with the balance vesting quarterly over the following twelve quarters in substantially equal amounts, subject to Mr. Dostie’s continued employment.
Mr. Dostie will enter into the Company’s form of Severance and Change in Control Agreement and the Company’s form of Indemnity Agreement.
There is no arrangement or understanding between Mr. Dostie and any other persons pursuant to which Mr. Dostie was selected as Vice President, Accounting and Controller of the Company. Furthermore, there are no transactions between Mr. Dostie and the Company that would be required to be reported under Item 404(a) of Regulation S-K. No family relationships exist between Mr. Dostie and any of the Company’s directors or executive officers.
Item 7.01 Regulation FD Disclosure.
The Company’s announcement, dated May 1, 2023, announcing the appointment of Mr. Dostie is furnished as Exhibit 99.1 to this report.
The information in Item 7.01 of this report is furnished and shall not be treated as filed for purposes of the Securities Exchange Act of 1934, as amended.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description |
|---|---|
| 99.1 | Announcement |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
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.
| BARK, Inc. | |
|---|---|
| By: | /s/ Allison Koehler |
| Name: Allison Koehler | |
| Title: General Counsel and Secretary |
Date: May 1, 2023
Document
BARK WELCOMES BRIAN DOSTIE AS NEW VICE PRESIDENT OF ACCOUNTING AND CONTROLLER
NEW YORK, May 1, 2023 — BARK, Inc. (NYSE: BARK) (“BARK” or the “Company”), a leading global omnichannel dog brand with a mission to make all dogs happy, today announced that Brian Dostie was appointed Vice President, Accounting and Controller, effective immediately.
“With over two decades of leadership experience spanning financial reporting, accounting, internal controls, treasury and FP&A, Brian brings a wealth of expertise to the Company,” said Zahir Ibrahim, Chief Financial Officer. “We are delighted to welcome Brian to the team, as we continue to drive towards sustainable profitability.”
Mr. Dostie most recently served as Vice President, Accounting and Controller of 80 Acres Farms where he oversaw various financial functions including accounting and reporting, audit, and treasury. Prior to that role, he was at National Instruments, a public company, for over 20 years. His roles included time overseas leading the build out of the finance team to support the growth of the Asia Pac business. His most recent role at National Instruments was Corporate Controller, where he was responsible for accounting, SEC reporting, treasury, and finance shared services.
Mr. Dostie earned a B.A. in Finance from the University of Cincinnati, and an M.B.A. from Rutgers University.
About BARK
BARK is the world’s most dog-centric company, devoted to making dogs happy with the best products, services and content. BARK’s dog-obsessed team applies its unique, data-driven understanding of what makes each dog special to design playstyle-specific toys, wildly satisfying treats, great food for your dog’s breed, effective and easy to use dental care, and dog-first experiences that foster the health and happiness of dogs everywhere. Founded in 2011, BARK loyally serves dogs nationwide with themed toys and treats subscriptions, BarkBox and BARK Super Chewer; custom product collections through its retail partner network, including Target and Amazon; its high-quality, nutritious meals made for your breed with BARK Food; and products that meet dogs’ dental needs with BARK Bright®. At BARK, we want to make dogs as happy as they make us because dogs and humans are better together. Sniff around at bark.co for more information.
Contacts
Investors:
Michael Mougias
investors@barkbox.com
Media:
Garland Harwood
press@barkbox.com