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 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(a) Departure of Director
to a letter delivered by Paul J. Weber to Truett-Hurst, Inc. (the “Company”) on April 12, 2018, Mr. Weber resigned (the “Resignation”) from the Board of Directors of the Company (the “Board”), effective as of April 15, 2018. According to his letter, Mr. Weber’s Resignation was due to his concerns over the handling of the recent departure of the Company’s former Chief Financial Officer, Evan B. Meyer.
Mr. Weber served on the Company’s Audit Committee, Compensation Committee and Nominating and Governance Committee. Mr. Weber was the chair of the Audit Committee and the Audit Committee’s financial expert.
A copy of Mr. Weber’s letter is filed as Exhibit 17.1 hereto.
(d) Election of Director
On April 12, 2018, the Board appointed Gerry Hansen as a Class III director of the Company, effective immediately. The appointment of Ms. Hansen was recommended by the Company’s Nominating and Governance Committee.
The Board has determined that Ms. Hansen is an independent director. Ms. Hansen was appointed by the Board to serve on the Company’s Audit Committee and Compensation Committee. Ms. Hansen will serve as the Audit Committee’s chair and the Audit Committee’s financial expert.
No family relationships exist between Ms. Hansen and any of the Company’s other directors or executive officers. There are no arrangements between Ms. Hansen and any other person to which Ms. Hansen was nominated as a director, nor are there any transactions to which the Company is or was a participant in and in which Ms. Hansen has a material interest subject to disclosure under Item 404(a) of Regulation S-K.
| Item 9.01. | Financial Statements and Exhibits. |
EXHIBIT INDEX
Truett-Hurst, Inc. ExhibitEX-17.1 2 tv491316_ex17-1.htm EXHIBIT 17.1 Exhibit 17.1 Paul J. Weber April 12,…To view the full exhibit click here
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.