Business Context and Reporting Period
This Form 8-K Current Report was filed by The Joint Corp. (JOINT Corp) on April 15, 2021. The company is incorporated in Delaware and trades on the NASDAQ Capital Market under the symbol JYNT. The report addresses a specific corporate governance event regarding executive compensation.
Key Financial Metrics
The filing does not provide financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity. The document focuses exclusively on a change in executive compensation.
Material Changes
The Board of Directors voted to increase the annual base salary of Jacob Singleton, the Company's Chief Financial Officer, to $250,000. This increase is retroactive to March 8, 2021. No other changes were made to Mr. Singleton's compensation package.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, management commentary on business outlook, or discussion of risks and contingencies. The only unusual item noted is the retroactive salary adjustment for the CFO.
Key Facts for Investor Verification
- Executive Compensation Change: CFO Jacob Singleton's annual base salary increased to $250,000.
- Effective Date: The salary increase is retroactive to March 8, 2021.
- Board Approval: The change was approved by the Board of Directors upon the recommendation of the Compensation Committee on April 15, 2021.
- Existing Agreements: The change does not alter the terms of the letter agreement dated November 6, 2018, as amended on March 3, 2020.