Current Report Filing (8-k)
August 19 2020 - 10:05AM
Edgar (US Regulatory)
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
August
12, 2020
Date
of Report (Date of earliest event reported)
GLASSBRIDGE
ENTERPRISES, INC.
(Exact
Name of Registrant as Specified in its Charter)
Delaware
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001-14310
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41-1838504
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(State
or other jurisdiction
of incorporation)
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(Commission
File Number)
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(I.R.S.
Employer
Identification No.)
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411
East 57th Street, Suite 1-A
New
York, New York
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10022
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(Address
of Principal Executive Offices)
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(Zip
Code)
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Registrant’s
telephone number, including area code: (212) 220-3300
N/A
(Former
name or former address, if changed since last report)
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:
[ ]
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Written
communications pursuant to Rule 425 under the Securities Act
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[ ]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act
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[ ]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act
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[ ]
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
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Trading
Symbol(s)
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Name
of each exchange on which registered
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None
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None
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None
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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 (17 CFR
§230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
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
August 12, 2020, the board of directors (the “Board”) of GlassBridge Enterprises, Inc. (the “Company”)
approved an increase in the annual per director compensation of each member of the Board from $20,000 per annum to $60,000 per
annum, and from $70,000 to $90,000 per annum for the chairman of the Board (the “Increased Compensation”). In addition
to the Increased Compensation, both the chairman of the audit committee of the Company and the chairman of the finance committee
of the Company will receive additional cash compensation of $75,000 per annum.
In
connection with transactions consummated July 21, 2020, previously reported, the Board authorized a $425,000 bonus to Daniel Strauss,
the Company’s chief executive officer.
On
August 12, 2020, Adara Enterprises Corp. (“AEC”), a majority-owned subsidiary of the Company, approved the award of
a one-time payment of $37,500 to each member of the board of directors of AEC. Mr. Strauss and Francis Ruchalski, the Company’s
chief financial officer, are members of the AEC board.
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.
Dated:
August 18, 2020
GLASSBRIDGE
ENTERPRISES, INC.
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By:
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/s/
Daniel Strauss
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Name:
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Daniel
Strauss
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Title:
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Chief
Executive Officer
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GlassBridge Enterprises (CE) (USOTC:GLAE)
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