Petco Health & Wellness Company, Inc 8-K/A, filed Sep 2, 2022
Petco Health & Wellness Company, Inc. (WOOF)
About this 8-K/A
Petco Health & Wellness Company, Inc filed this 8-K/A on September 2, 2022, reporting on events of August 8, 2022.
Items reported
- 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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Class A common stock, |
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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).
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EXPLANATORY NOTE
This Current Report on Form 8-K/A amends Item 5.02 of the Current Report on Form 8-K filed on August 9, 2022 (the “Report”) by Petco Health and Wellness Company, Inc. (the “Company”) to add the information described herein.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 9, 2022, the Company filed the Report to disclose that Mr. Michael Nuzzo left the Company, effective as of August 13, 2022. This Current Report on Form 8-K/A hereby amends the Report to disclose that on August 30, 2022, in connection with his separation from the Company, Mr. Nuzzo entered into a separation agreement and general release of claims (the “Agreement”) with Petco Animal Supplies Stores, Inc., an indirect wholly owned subsidiary of the Company, and Scooby LP. In consideration for a general release of claims and certain other covenants, the Agreement provides Mr. Nuzzo with the following separation payments and benefits: (i) a lump sum cash payment of $1,318,015, representing 18 months of Mr. Nuzzo’s base salary, 18 months of group health plan continuation premiums, and 50% of Mr. Nuzzo’s target fiscal 2022 bonus; (ii) accelerated vesting of 2,472,055 Common Series C Units in Scooby LP; and (iii) a waiver by Scooby LP of its call right with respect to Mr. Nuzzo’s Common Series C Units and Common Series B Units in Scooby LP.
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.
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Petco Health and Wellness Company, Inc. |
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Date: September 2, 2022 |
By: |
/s/ Brian LaRose |
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Name: |
Brian LaRose |
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Title: |
Chief Financial Officer |