UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C., 20549
FORM
CURRENT REPORT
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Item 1.01. Entry Into a Material Definitive Agreement
The information set forth below in Item 5.02 is incorporated by reference in this Item 1.01.
Item 3.02 Unregistered Sales of Equity Securities.
The disclosure contained in Item 5.02 of this Current Report on Form 8-K is incorporated by reference in this Item 3.02.
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
John Gulyas Employment Agreement
On December 16, 2024, Safety Shot, Inc. (the “Company”) entered into an employment agreement (“John Agreement”) with John Gulyas, pursuant to which Mr. Gulyas will serve as the Company’s Executive Chairman of the board of directors. The Agreement provides for (A) a $300,000 annual base salary paid in equal installments on the Company’s regular pay dates no less frequently than bi-monthly, (B) a restricted stock award of 1,000,000 shares of Company’s common stock fully vested as of the date therein, (C) an incentive bonus of $100,000 and 500,000 restricted shares of Company’s common stock if the Company achieves a combined revenue of $500,000 for Q1 and Q2 of 2025, (D) an incentive bonus of $100,000 and 500,000 restricted shares of Company’s common stock if the Company achieves a combined revenue of $1,000,000 for Q3 and Q4 of 2025, and (E) other customary employee benefits.
There are no arrangements or understandings between the Company and the newly appointed executive officer or director and any other person or persons pursuant to which each executive officer or director was appointed and there is no family relationship between or among any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer. There are no transactions to which the Company is or was a participant and in which either Mr. Gulyas has a material interest subject to disclosure under Item 404(a) of Regulation S-K.
Jordon Schur Employment Agreement
On December 16, 2024, the Company entered into an employment agreement (“Jordon Agreement”) with Jordon Schur, pursuant to which Mr. Schur will serve as the Company’s President. The Agreement provides for (A) a $300,000 annual base salary paid in equal installments on the Company’s regular pay dates no less frequently than bi-monthly, (B) a restricted stock award of 1,000,000 shares of Company’s common stock fully vested as of the date therein, (C) an incentive bonus of $100,000 and 500,000 restricted shares of Company’s common stock if the Company achieves a combined revenue of $500,000 for Q1 and Q2 of 2025, (D) an incentive bonus of $100,000 and 500,000 restricted shares of Company’s common stock if the Company achieves a combined revenue of $1,000,000 for Q3 and Q4 of 2025, and (E) other customary employee benefits.
There are no arrangements or understandings between the Company and the newly appointed executive officer or director and any other person or persons pursuant to which each executive officer or director was appointed and there is no family relationship between or among any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer. There are no transactions to which the Company is or was a participant and in which either Mr. Schur has a material interest subject to disclosure under Item 404(a) of Regulation S-K.
Jarrett Boon Employment Agreement
On December 16, 2024, the Company entered into an employment agreement (“Jarrett Agreement” together with the John Agreement and Jordon Agreement as the “Agreements”) with Jarrett Boon, pursuant to which Mr. Boon will serve as the Company’s Chief Executive Officer. The Agreement provides for (A) a $300,000 annual base salary paid in equal installments on the Company’s regular pay dates no less frequently than bi-monthly, (B) a restricted stock award of 1,000,000 shares of Company’s common stock fully vested as of the date therein, (C) an incentive bonus of $100,000 and 500,000 restricted shares of Company’s common stock if the Company achieves a combined revenue of $500,000 for Q1 and Q2 of 2025, (D) an incentive bonus of $100,000 and 500,000 restricted shares of Company’s common stock if the Company achieves a combined revenue of $1,000,000 for Q3 and Q4 of 2025, and (E) other customary employee benefits.
There are no arrangements or understandings between the Company and the newly appointed executive officer or director and any other person or persons pursuant to which each executive officer or director was appointed and there is no family relationship between or among any director or executive officer of the Company or any person nominated or chosen by the Company to become a director or executive officer. There are no transactions to which the Company is or was a participant and in which either Mr. Boon has a material interest subject to disclosure under Item 404(a) of Regulation S-K.
The foregoing description of the Agreements are not complete and are qualified in its entirety by reference to the full text of the Agreements, which is filed as Exhibit 10.1, 10.2 and 10.3 to this Current Report.
Exhibits 9.01 Financial Statements and Exhibits
| Exhibit No. | Description | |
| 10.1 | Employment Agreement with John | |
| 10.2 | Employment Agreement with Jordon | |
| 10.3 | Employment Agreement with Jarrett | |
| 104 | Cover Page Interactive Data File (embedded with the Inline XBRL document) |
SIGNATURE
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.
Date: December 20, 2024
| SAFETY SHOT, INC. | ||
| By: | /s/ Jarrett Boon | |
| Jarrett Boon | ||
| Chief Executive Officer | ||