EASTSIDE DISTILLING, INC. (OTCMKTS:ESDI) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Interim CFO
The Board of Directors (the “Board”) of Eastside Distilling, Inc. (“Eastside”) approved the appointment of G. Stuart Schreiner as Interim Chief Financial Officer, effective February 28, 2020. Eastside’s press release announcing Mr. Schreiner’s appointment as Interim Chief Financial Officer is furnished hereto as Exhibit 99.1.
Prior to his appointment as Interim Chief Financial Officer of Eastside, Mr. Schreiner, age 65, served as a financial consultant for Tatum, LLC, C-Squared Solutions and GSS Consulting LLC since 2002. During and prior to that time, he held various senior level positions, including Director of Finance or Chief Financial Officer, with Hands-On Labs, Inc., Melco Industries, Inc., AirCell, Inc., Nathan Wechsler CPA, Cablecom-General, Translogic Corporation, Fischer Imaging, and Century International. Mr. Schreiner is a Certified Public Accountant (inactive) and has a B.S. in Accounting, with Honors from Bentley College.
Compensatory Arrangements of Certain Officers
In connection with Mr. Schreiner’s appointment as Interim Chief Financial Officer, Eastside entered into a CFO Consulting Agreement dated March 2, 20220, with GSS Consulting, LLC, an entity through which Mr. Schreiner provides consulting services (the “Consulting Agreement”). The Consulting Agreement provides, among other things, that Mr. Schreiner will serve as a non-employee Chief Financial Officer on a part-time basis, in exchange for a fee of $125 per hour.
The foregoing is a summary only and does not purport to be a complete description of all of the terms, provisions, covenants and agreements contained in the Consulting Agreement and is subject to and qualified in its entirety by reference to the complete text of the Consulting Agreement, which will be filed as an exhibit to Eastside’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
| 99.1 | Press Release of Eastside Distilling, Inc. dated March 3, 2020, announcing the appointment of G. Stuart Schreiner as Interim Chief Financial Officer. |
Eastside Distilling, Inc. Exhibit
EX-99.1 2 ex99-1.htm Exhibit 99.1 Eastside Distilling Appoints G. Stuart Schreiner Interim Chief Financial Officer PORTLAND,…
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About EASTSIDE DISTILLING, INC. (OTCMKTS:ESDI)
Eastside Distilling, Inc. (Eastside) is a manufacturer, developer, producer and marketer of master-crafted spirits. The Company’s beverage alcohol categories include bourbon, whiskey, rum and vodka. The Company operates through the marketing and distributing of hand-crafted spirits segment. Its brands include Burnside Bourbon, Burnside Oregon Oaked Bourbon, Barrel Hitch American Whiskey, Barrel Hitch Oregon Oak American Whiskey, Below Deck Silver Rum, Below Deck Ginger Rum, Below Deck Coffee Rum, Below Deck Spiced Rum, Portland Potato Vodka, Marionberry Whiskey and Cherry Bomb Whiskey. Eastside creates seasonal and limited edition handmade products, such as Advocaat (eggnog) Liqueur, Peppermint Bark Liqueur, Bier Schnapps and Holiday Spiced Liqueur. Eastside distributes its products in approximately 15 states, including Oregon, Washington, Nevada, Texas, Virginia, Indiana, Illinois, New York, New Jersey, Massachusetts, Connecticut, Minnesota, Georgia, Pennsylvania and Maryland.
