UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 3, 2021, PetIQ, Inc. (the “Company”), announced that Chief Financial Officer, John Newland, will retire as an officer of the Company effective March 31, 2022, following its reporting of fiscal year 2021 results. In addition, the Company and Mr. Newland entered into a Transition Support Agreement and General Release (the “Transition Agreement”). The Transition Agreement provides for Mr. Newland’s resignation from employment with the Company following a transition period ending on the later of (i) the date on which the 2021 Form 10-K for the Company is signed or (ii) March 31, 2022 (the “Retirement Date”).
Following such retirement, Mr. Newland will become entitled to certain payments, rights and benefits. During his remaining period of employment, Mr. Newland will continue to serve as the Company’s Chief Financial Officer to enable an orderly transfer of his duties to his successor. 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 which is filed herewith as Exhibit 10.1.
Mr. Newland’s resignation was not because of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices, including accounting principles and practices. The Company has initiated a search for a permanent Chief Financial Officer. If a permanent replacement is not in place at the time that Mr. Newland ceases to be the Chief Financial Officer, then an interim Chief Financial Officer will be named at such time.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
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: August 11, 2021 | By | /s/ John Newland |
| Name: | John Newland |
| Title: | Chief Financial Officer |