Business Context and Reporting Period
This Form 8-K filing by Verb Technology Company, Inc. (trading as VERB) was submitted on May 30, 2023, with the report date of June 2, 2023. The filing addresses Item 5.02 regarding the departure of a senior officer and the appointment of an interim replacement.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance and personnel changes rather than financial performance.
Material Changes
- Departure of CFO: Salman H. Khan resigned as Chief Financial Officer, effective June 13, 2023. The resignation was not due to any disagreement with the Company regarding operations, policies, or practices.
- Appointment of Interim CFO: Bill J. Rivard, the current Corporate Controller, was appointed as Interim Chief Financial Officer, effective June 13, 2023.
Guidance, Outlook, and Risks
The filing contains no financial guidance, outlook, or discussion of market risks. Regarding the personnel change, the Company noted that the Compensation Committee will determine Mr. Rivard's compensation, with a subsequent Form 8-K to be filed to disclose specific arrangements. No unusual items or contingencies were reported.
Investor Verification Checklist
- Verify the effective date of the CFO transition (June 13, 2023).
- Monitor for the subsequent Form 8-K detailing the compensation arrangements for the Interim CFO.
- Confirm the background of Bill J. Rivard, including his 30+ years of experience and prior roles at RSM US LLP and the SEC.
- Review upcoming quarterly reports for any impact on financial reporting timelines due to the leadership change.