UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Securities registered pursuant to Section 12(b) of the Act:
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 4, 2022, the Company announced that Susan Sholtis who was serving as President, will leave the Company on May 27, 2022, to spend more time with her family. In addition, the Company and Ms. Sholtis will enter into a Transition Support Agreement and General Release (the “Transition Agreement”). The Transition Agreement will provide for Ms. Sholtis’ resignation from employment with the Company and will provide that Ms. Sholtis will remain available on an as needed basis to ensure a smooth transition through September 30, 2022. Following such retirement, Ms. Sholtis will become entitled to certain payments, rights and benefits. The foregoing description of the Transition Agreement is not complete and is qualified by reference to the full text of the agreement, a copy of the form of Transition Agreement filed herewith as Exhibit 10.1.
Michael Smith, who has served as the Company’s Executive Vice President, Products Division since 2019, has been appointed President and Chief Operating Officer, a newly created role, effective June 1, 2022. Smith will continue to report directly to Cord Christensen, Chief Executive Officer.
Item 9.01 Financial Statements and Exhibits.
| (d) | Exhibits: |
| Exhibit No. | Description | |
| 10.1 | Form of Transition Support Agreement and General Release, between PetIQ, Inc., and Susan Sholtis. | |
| 99.1 | Press Release dated May 4, 2022 announcing Executive Leadership Team changes. | |
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). |
SIGNATURES
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.
| PETIQ, INC. | ||
| Dated: May 6, 2022 | By | /s/ Zvi Glasman |
| Name: | Zvi Glasman | |
| Title: | Chief Financial Officer | |