Charlotte's Web Holdings, Inc 8-K, filed Apr 3, 2023
Charlotte's Web Holdings, Inc. (CWBHF)
About this 8-K
Charlotte's Web Holdings, Inc filed this 8-K on April 3, 2023, reporting on events of March 30, 2023.
Items reported
- Item 5.02: Director or officer change, or executive pay
- Item 9.01: Financial statements and exhibits
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. |
Effective March 30, 2023 (the “Effective Date”), the Company entered into an amendment (the “Amendment”) to the offer of employment, dated December 19, 2022 (the “Offer Letter”), with Jessica Saxton, Chief Financial Officer of the Company. Pursuant to the Amendment, Ms. Saxton’s relocation reimbursement was increased from $40,000 to $45,000, she was provided a 12-month housing assistance allowance of $1,500 per month through March 31, 2024, and she was provided a vehicle assistance allowance of $1120 per month through January 31, 2025.
The foregoing description of Ms. Saxton’s Amendment is qualified in its entirety by reference to the agreement, which is included as Exhibit 10.1 to this Current Report on Form 8-K.
| Item 9.01. | Financial Statements and Exhibits. | |
| (d) | Exhibits: | |
| Exhibit No. |
Description |
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| 10.1†∔ | Letter dated as of March 30, 2023 to Jessica Saxton re: Amendment to Offer of Employment with Charlotte’s Web Holdings, Inc. | ||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document | ||||
† Indicates a management contract or compensatory plan or arrangement.
∔ Certain identified information has been excluded from the exhibit pursuant to Item 601(a)(6) and/or Item 601(b)(10)(iv) of Regulation S-K.
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 thereunto duly authorized.
| CHARLOTTE’S WEB HOLDINGS, INC. | |||
| Date: April 3, 2023 | By: | /s/ Stephen Rogers | |
| Stephen Rogers | |||
| Senior Vice President - General Counsel and Corporate Secretary | |||
Exhibit 99.1
March 30, 2023
VIA E-Mail
Jessica Saxton
[* * *]
RE: Amendment to Offer of Employment with Charlotte’s Web Holdings, Inc.
Dear Jessica,
This letter serves as an amendment (“Amendment”) to your offer of employment from Charlotte’s Web Holdings, Inc. Provided that you timely sign and return a copy of this Amendment to me, this Amendment shall be effective as of March 10, 2023. Except as expressly set forth in this Amendment, all other terms and conditions of your Offer Letter remain in full force and effect, as if expressly stated herein.
| 1. | Relocation. The relocation section of your offer letter shall be amended such that Charlotte’s Web will increase relocation costs from $40,000 up to $45,000. |
| 2. | Housing assistance. Charlotte’s Web is prepared to offer you $1,500 per month for a total of 12 months, grossed up, to assist with housing costs. Reimbursement will be made directly to you through regular payroll. |
| 3. | Vehicle Lease. Charlotte’s Web offers $1120/month through January 31, 2025 for a vehicle lease. |
Nothing contained herein shall in any way alter the nature of your employment status as an at-will employee. Please confirm your understanding and acceptance of this Amendment by signing and returning a copy of this Agreement to me by March 15, 2023.
We look forward to mutual collaboration and to your continued contribution in developing the business. Please feel free to contact me if you have any questions.
Sincerely,
/s/ Mindy Garrison
Mindy Garrison
Chief People Officer
On behalf of Charlotte’s Web Holdings, Inc.
Accepted and Agree:
| /s/ Jessica Saxton | March 30, 2023 |
| Jessica Saxton | Date |
[* * *] Indicates material that has been redacted from this Exhibit 10.1 because it is confidential and not material.
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