Edible Garden AG Inc 8-K, filed Aug 2, 2022
Edible Garden AG Inc (EDBL)
About this 8-K
Edible Garden AG Inc filed this 8-K on August 2, 2022, reporting on events of July 27, 2022.
Items reported
- Item 3.01: Delisting notice or listing transfer
- Item 5.02: Director or officer change, or executive pay
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Securities Exchange Act of 1934
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Item 3.01. Notice of Delisting or Failure to Satisfy a Continued Listing Rule or Standard; Transfer of Listing.
On July 27, 2022, Tracy Nazzaro notified the Chairman of the Board of Directors of Edible Garden AG Incorporated (the “Company”) of her decision to resign, effective immediately, from her position as a member of the Boards of Directors of the Company. Ms. Nazzaro’s resignation was not related to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Following the Company’s notification to the Nasdaq Stock Market LLC (“Nasdaq”) on July 28, 2022, the Company received a notification from Nasdaq on August 1, 2022 that, as a result of Ms. Nazzaro’s resignation, the Company was no longer in compliance with (i) Nasdaq Listing Rule 5605(b)(1), which requires the Board to be comprised of a majority of independent directors; and (ii) Nasdaq Listing Rule 5605(c)(2), which requires the audit committee to consist of at least three members, each of whom is an independent director under the Nasdaq Listing Rules and who meets heightened independence standards for audit committee members. Consistent with Nasdaq Listing Rules 5605(b)(1)(A) and 5605(c)(4), the Company intends to take action to satisfy these Nasdaq Listing Rules prior to the expiration of the cure period at the earlier of the Company’s next annual stockholder meeting or July 27, 2023.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
The information contained in Item 3.01 of this Current Report on Form 8-K is incorporated herein by reference.
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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.
| EDIBLE GARDEN AG INCORPORATED | ||
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Date: August 2, 2022 | /s/ Michael James | ||
| Name: | Michael James |
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| Title: | Chief Financial Officer |
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