Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 26, 2022, BARK, Inc. (the "Company") announced that Kevin Eyerman
joined as its Vice President of Accounting, Controller, effective August 22,
2022. Howard Yeaton ceased serving in the capacity of interim Principal
Accounting Officer of the Company effective as of August 22, 2022 and will
continue to serve as the Company's Interim Chief Financial Officer.
Mr. Eyerman, age 52, most recently served as Vice President, Global Controller,
for Elite World Group, a global leader in fashion talent management, a position
he held since June 2021. Prior to Elite World Group, he served as Chief
Accounting Officer for Ideal Image Development Corp., a personal aesthetics and
wellness company, from July 2019 to June 2021 and as Vice President, Corporate
Controller for Globecomm Systems Inc., a global satellite communications
company, from July 2018 to May 2019. Prior to that, Mr. Eyerman served as
Corporate Controller for Napa Management Services Corporation, the practice
management provider for the largest single-specialty, clinician-led anesthesia
organization in the U.S., from October 2012 to April 2018.
Mr. Eyerman's offer letter with the Company (the "Offer Letter") provides for an
annual compensation package consisting of a base salary of $285,000 and a target
bonus opportunity of 30% of base salary (prorated for fiscal year 2023). Mr.
Eyerman will also receive an initial grant of 75,000 restricted stock units
("RSUs") and 25,000 options to purchase common stock of the Company (the
"Options") under the Company's 2021 Equity Incentive Plan, of which 25% will
vest August 10, 2023 and the balance will vest quarterly over twelve quarters in
substantially equal amounts, subject to Mr. Eyerman's continued employment. In
addition, the Offer Letter provides for a one-time sign-on bonus in the amount
of $40,000, 50% of which will be paid now and the balance will be paid on August
22, 2023, subject to Mr. Eyerman's continued service and to repayment if Mr.
Eyerman is terminated for cause or voluntarily resigns prior to August 22, 2023.
Mr. Eyerman will enter into the Company's Severance and Change in Control
Agreement and the Company's Indemnity Agreement in the same form, respectively,
entered into by the Company's other executive officers.
There is no arrangement or understanding between Mr. Eyerman and any other
persons pursuant to which Mr. Eyerman was selected as Vice President of
Accounting, Controller of the Company. Furthermore, there are no transactions
between Mr. Eyerman and the Company that would be required to be reported under
Item 404(a) of Regulation S-K. No family relationships exist between Mr. Eyerman
and any of the Company's directors or executive officers.
Item 7.01 Regulation FD Disclosure.
The Company's announcement, dated August 26, 2022, announcing the appointment of
Mr. Eyerman is furnished as Exhibit 99.1 to this report.
The information in Item 7.01 of this report is furnished and shall not be
treated as filed for purposes of the Securities Exchange Act of 1934, as
amended.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
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Exhibit No. Description
99.1 Announcement
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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