Business Context and Reporting Period
This Form 8-K Current Report is filed by Flora Growth Corp. (not Zerostack Corp.) for the event date of December 19, 2025. The company is incorporated in Ontario and trades on the NASDAQ Capital Market under the symbol FLGC. The filing primarily addresses the formalization of the departure of Clifford Starke, the former Chief Executive Officer and Director.
Key Financial Metrics
The filing does not provide standard financial performance metrics such as revenue, profit, cash flow, margins, debt, or liquidity. The only financial data disclosed relates to the executive separation package:
- Cash Payment: $895,000
- Equity Grant: 13,000 Restricted Share Awards
Material Changes
The material change reported is the execution of a Separation Agreement and General Release of Claims with Clifford Starke. Key details include:
- Mr. Starke's employment officially terminated on December 19, 2025, following his resignation as CEO and Director on September 20, 2025.
- The resignation was not due to any disagreement with the Company regarding operations, policies, or practices.
- Mr. Starke will continue to serve as a strategic advisor to the new CEO.
- All claims Mr. Starke had against the Company have been mutually settled.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, financial outlook, or discussion of general business risks. The primary contingency noted is the settlement of potential legal claims, which has been resolved through the Separation Agreement. The agreement is qualified by reference to the full text filed as Exhibit 10.1.
Investor Verification Checklist
- Verify the identity of the new Chief Executive Officer, as Mr. Starke has departed.
- Review the full Separation Agreement (Exhibit 10.1) for specific vesting schedules of the 13,000 Restricted Share Awards.
- Confirm the impact of the $895,000 cash payment on the company's immediate cash position in upcoming quarterly reports.
- Monitor future filings for the appointment of a new Director to replace Mr. Starke.