TRUETT-HURST, INC. (NASDAQ:THST) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02
(b) Departure of Directors or Certain Officers
On March 29, 2018, Truett-Hurst, Inc. (the “Company”) and Evan B. Meyer, the Company’s Chief Financial Officer, agreed that Mr. Meyer’s employment with the Company will terminate effective as of March 30, 2018. The Company and Mr. Meyer entered into aSeparationAgreement dated March 29, 2018 (the “SeparationAgreement”). Under theSeparationAgreement and subject to the terms and conditions set forth therein, Mr. Meyer will receive (1) a cash severance payment of $144,500, to be paid in two monthly installments, and (2) payment of Mr. Meyer’s COBRA premiums for continuation of health benefits for up to six months. In addition, Mr. Meyer’s outstanding equity-based awards granted by the Company that are unvested on the date of his termination will fully vest and, in the case of options, be exercisable. TheSeparationAgreement also includes Mr. Meyer’s release of claims and certain other covenants in favor of the Company.
About TRUETT-HURST, INC. (NASDAQ:THST)
Truett-Hurst, Inc. is a holding company. The Company produces and sells wines and other select beverage alcohol products made from wine. The Company’s segments include wholesale and direct to consumer. Wholesale sales include its retail brand label model and brands sold through the three-tier distribution system. Direct to consumer sales occur through its tasting rooms and wine clubs. It also purchases semi-finished bulk wine, and finished goods from both foreign and domestic producers. The Company owns its tasting room and winery in the Dry Creek Valley and leases the tasting room and winery located in the Russian River Valley. Its wines include Pinot Noir, Chardonnay, Sauvignon Blanc, Zinfandel, Petite Sirah, Merlot and Cabernet Sauvignon, which are sold across a range of price points through various distribution channels, such as three-tier and direct to consumer. Its brands include Truett Hurst, VML, Bradford Mountain, Healdsburg Ranches, The One Armed Man and Stonegate.