REED's, INC. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by REED's, INC. on September 29, 2020. The report discloses a specific corporate governance event regarding the appointment of a new executive officer.
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 personnel changes and does not contain financial performance data.
Material Changes
On September 26, 2020, the Board of Directors appointed Richard H. Hubli as Vice President of Operations, effective September 28, 2020. Mr. Hubli brings nearly four decades of experience in supply chain and operations management, with prior roles at Harvest Hill Beverage Company, High Ridge Brands, Kozy Shack Enterprises, Fuze Beverages, Cadbury Schweppes, Colgate Palmolive, Nestle Foods, PepsiCo, and General Foods.
Compensation and Outlook
Mr. Hubli's compensation package includes:
- One-time signing bonus: $6,000
- Annual salary: $200,000
- Target bonus: 30% of annual salary
- Eligibility for standard executive benefit and incentive compensation plans
The filing states there are no family relationships between Mr. Hubli and existing directors or officers, and no undisclosed arrangements influenced his selection. No specific financial guidance or risk factors were disclosed in this document.
Investor Verification Checklist
- Verify the effective date of Mr. Hubli's appointment (September 28, 2020).
- Confirm the total fixed and variable compensation structure for the new Vice President of Operations.
- Review the attached press release (Exhibit 99.1) for additional strategic context regarding the appointment.
- Note that this filing contains no financial results; refer to the most recent 10-Q or 10-K for financial metrics.