8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 7, 2022

The Duckhorn Portfolio, Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-40240	81-3866305
(State or other jurisdiction of incorporation or organization)	(Commission file number)	(I.R.S. Employer Identification No.)

1201 Dowdell Lane Saint Helena, CA 94574

(Address, including zip code, of Principal Executive Offices)

(707) 302-2658

(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e- 4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	NAPA	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On December 7, 2022, Lori Beaudoin notified The Duckhorn Portfolio, Inc. (the “Company”) of her intention to retire from her position as the Company’s Executive Vice President, Chief Financial Officer effective upon the appointment of her successor. The Company has commenced a search for her successor and will make an announcement when her successor has been appointed. Once a successor has been appointed, the Company currently expects Ms. Beaudoin to serve in an advisory role for a period of time following her retirement to ensure a smooth transition.

Item 7.01 Regulation FD Disclosure.

A copy of the Company’s press release regarding Ms. Beaudoin’s planned retirement is attached hereto as Exhibit 99.1. In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibits 99.1, shall not be deemed “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 (the “Securities Act”).

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number	Description
99.1	Press release dated December 7, 2022
104	Cover Page Interactive Data File (embedded within 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.

	The Duckhorn Portfolio, Inc.
Date: December 7, 2022	By:	/s/ S.B.A. Sullivan
		Sean Sullivan
		Executive Vice President, Chief Strategy and Legal Officer

EX-99.1

Exhibit 99.1

The Duckhorn Portfolio Announces Planned CFO Retirement in Spring 2023 and Transition Plan

St. Helena, CA, December 7, 2022 — The Duckhorn Portfolio, Inc.(NYSE: NAPA) (the “Company”) announced today that Lori Beaudoin, Executive Vice President, Chief Financial Officer, intends to retire in the spring of 2023 after more than thirteen years with the Company. The Company has launched a national search for its next Executive Vice President, Chief Financial Officer, and Ms. Beaudoin plans to continue in her role until the new Chief Financial Officer joins the Company to ensure a seamless transition. The Company also plans to engage Ms. Beaudoin as a senior advisor after the transition.

“On behalf of the entire Duckhorn family, I would like to thank Lori for her leadership, dedication and immeasurable contributions over her thirteen-year career with the Company,” said Alex Ryan, President and Chief Executive Officer. “Guided by her steady hand and exceptional financial discipline, Lori has been integral to our growth since she joined the business, and leaves The Duckhorn Portfolio cemented an industry leader positioned for long-term success. We wish her and her family the best in retirement.”

“My time at Duckhorn has been the proudest period of my entire professional career, and I am grateful to have been part of such a dynamic and immensely talented organization,” added Lori Beaudoin, Chief Financial Officer. “I take pride in all that we have achieved in my time here, and could not be more confident in the team we have built to ensure The Duckhorn Portfolio will remain a driving force within the luxury wine category for years to come.”

About The Duckhorn Portfolio, Inc.

The Duckhorn Portfolio is North America’s premier luxury wine company, with ten wineries, eight state-of-the-art winemaking facilities, seven tasting rooms and over 1,100 coveted acres of vineyards spanning 33 Estate properties. Established in 1976, when vintners Dan and Margaret Duckhorn founded Napa Valley’s Duckhorn Vineyards, today, our portfolio features some of North America’s most revered wineries, including Decoy, Paraduxx, Goldeneye, Migration, Canvasback, Calera, Kosta Browne, Greenwing and Postmark. Sourcing grapes from our own Estate vineyards and fine growers in Napa Valley, Sonoma County, Anderson Valley, California’s North and Central coasts, and Washington State, we offer a curated and comprehensive portfolio of acclaimed luxury wines with price points ranging from $20 to $200 across more than 15 varietals and 31 appellations. Our wines are available throughout the United States, on five continents, and in more than 50 countries around the world. To learn more, visit us at: https://www.duckhornportfolio.com/. Investors can access information on our investor relations website at: https://ir.duckhorn.com.

Contacts

Media Contact

Jessica Liddell, ICR

DuckhornPR@icrinc.com

203-682-8200

Investor Contact

Chris Mandeville, ICR

ir@duckhorn.com

707-302-2635

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XML

Cover	Dec. 07, 2022
Cover [Abstract]
Document Type	8-K
Document Period End Date	Dec. 07, 2022
Entity Registrant Name	The Duckhorn Portfolio, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-40240
Entity Tax Identification Number	81-3866305
Entity Address, Address Line One	1201 Dowdell Lane
Entity Address, City or Town	Saint Helena
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94574
City Area Code	(707)
Local Phone Number	302-2658
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	NAPA
Security Exchange Name	NYSE
Entity Emerging Growth Company	false
Entity Central Index Key	0001835256
Amendment Flag	false