Charles Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02
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Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Appointment of New Director
On May 30, 2017, the Board of Directors (the Board) appointed
Benedetta Casamento to serve as a director of Charles Colvard,
Ltd. (the Company). In addition, the Board appointed Ms.
Casamento to the Boards Audit Committee.
Ms. Casamento, age 50, is currently Chairman and President of
Allyke, Inc., an artificial intelligence company creating digital
imagery insights for retail and other industries. From December
2014 to April 2016, she served as Chief Executive Officer of
Calypso St. Barth, a luxury boutique retailer of womens apparel
and accessories. Prior to her role at Calypso St. Barth, Ms.
Casamento served as Executive Vice President, Finance Operations
of The Talbots, Inc. (Talbots), a specialty retailer and direct
marketer of womens apparel, accessories, and shoes, from March
2009 to July 2012. Prior to joining Talbots, Ms. Casamento served
in various leadership roles within Liz Claiborne Inc. from
February 1999 to November 2011, culminating in her position as
President of Liz Claiborne Brands. Ms. Casamento started her
career at Saks Fifth Avenue where she held roles of increasing
responsibility in accounting and finance.
Ms. Casamento was granted an option to purchase 59,523 shares of
the Companys common stock on May 30, 2017 to the Companys Board
of Directors Compensation Program, which was filed with the
Securities and Exchange Commission as Exhibit 10.1 to the
Companys Form 8-K on September 10, 2015.
A copy of the press release announcing the appointment of Ms.
Casamento is attached hereto as Exhibit 99.1 and is incorporated
herein by reference.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits |
|
Exhibit No. |
Description of Document | |
| 99.1 | Press Release dated June 1, 2017 |
About Charles & Colvard, Ltd. (NASDAQ:CTHR)
Charles & Colvard, Ltd. manufactures and distributes Charles & Colvard Created Moissanite jewels (moissanite) and finished jewelry featuring moissanite. The Company’s segments are Wholesale, Moissanite.com and Charles & Colvard Direct. The Company sells loose moissanite jewels and finished jewelry at wholesale to distributors, manufacturers and retailers, and at retail to end consumers through its operating subsidiaries. The Company manages its business primarily through its three distribution channels that it uses to sell its product lines, loose jewels and finished jewelry, which included Charles and Colvard Direct, LLC. The Company sells loose moissanite jewels and finished jewelry featuring moissanite at wholesale to retailers, television (TV) shopping networks, and designers to be sold to end consumers and directly to consumers through its e-commerce sales channel Moissanite.com. The Company primarily sells moissanite jewels, including Forever Classic and Forever Brilliant. Charles & Colvard, Ltd. (NASDAQ:CTHR) Recent Trading Information
Charles & Colvard, Ltd. (NASDAQ:CTHR) closed its last trading session 00.000 at 0.880 with 78,820 shares trading hands.
