Current Report Filing (8-k)
October 11 2019 - 3:03PM
Edgar (US Regulatory)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): October 7, 2019
iMedia Brands, Inc.
(Exact name of registrant as specified
in its charter)
Minnesota
|
|
001-37495
|
|
41-1673770
|
(State or other jurisdiction
of incorporation)
|
|
(Commission
File Number)
|
|
(IRS Employer
Identification No.)
|
6740 Shady Oak Road,
Eden Prairie, Minnesota 55344-3433
(Address of principal executive offices)
(952) 943-6000
(Registrant’s telephone number,
including area code)
Not applicable
(Former name or former address, if changed
since last report)
Securities registered pursuant to Section
12(b) of the Act:
Title of each class
|
Trading Symbol(s)
|
Name of each exchange on which registered
|
Common Stock, $0.01 par value
|
IMBI
|
Nasdaq Capital Market
|
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))
|
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.
|
(e) On October 7, 2019,
the Compensation Committee of the Board of Directors of iMedia Brands, Inc. (the “Company”) amended the terms of the
Company’s annual incentive plan for its Chief Executive Officer, Tim Peterman, and Chief Financial Officer, Michael Porter.
The annual incentive plan was initially approved in March 2019, Mr. Peterman was appointed CEO on May 2, 2019, and
Mr. Porter was appointed CFO on May 27, 2019. In light of the Company’s financial performance prior to their appointments,
and to appropriately incent the new management team, the Compensation Committee determined to amend the annual incentive plan to
modify the adjusted EBITDA goals and to change the measurement period. Under the revised incentive plan, Messrs. Peterman
and Porter are eligible for annual cash incentives up to 100% and 40% of their respective annual base salaries, and the amount
of annual cash incentive received will be solely based upon the Company’s achievement of specified adjusted EBITDA goals.
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.
Date: October 11, 2019
|
iMedia Brands, Inc.
|
|
|
|
|
|
|
By:
|
/s/ James Spolar
|
|
|
|
James Spolar
Senior Vice President, General Counsel and Secretary
|
|
Evolv Technologies (NASDAQ:EVLV)
Historical Stock Chart
From Jun 2024 to Jul 2024
Evolv Technologies (NASDAQ:EVLV)
Historical Stock Chart
From Jul 2023 to Jul 2024