Item 2.02 Results of Operations and Financial Condition.
On November 10, 2021, The Original BARK Company (the "Company") issued a press
release announcing its financial results for its fiscal second quarter ended
September 30, 2021. A copy of the press release is furnished herewith as Exhibit
99.1 and is incorporated herein by reference.
The information contained in this Item 2.02 and in the accompanying Exhibit 99.1
shall not be deemed "filed" for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the "Exchange Act"), or incorporated by
reference in any filing under the Securities Act of 1933, as amended, or the
Exchange Act, regardless of any general incorporation language in such filing,
unless expressly incorporated by specific reference in such filing.
Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Resignation of Officer
On November 10, 2021, the Company announced the resignation of John Toth as
Chief Financial Officer effective as of November 12, 2021. In connection with
Mr. Toth's resignation, the Company intends to enter into a release agreement
with Mr. Toth, as well as an advisor agreement with Mr. Toth.
Appointment of Officer
On November 10, 2021, the Company announced that Howard Yeaton has been
appointed as interim Chief Financial Officer effective as of November 12, 2021.
Mr. Yeaton, age 66, has been the managing principal of Financial Consulting
Strategies, LLC ("FCS") since 2003, a firm serving principally early stage
public companies with financial reporting support and other related strategic
services. Until November 2019, Mr. Yeaton served as a director, Vice Chairman
and Chairman of the audit committee for Stewardship Financial Corporation, a
community bank. From October 2018 to December 2019, Mr. Yeaton served as Chief
Executive Officer of Akers Biosciences, Inc., a public company listed on the
Nasdaq Capital Market and a client of FCS, and from October 2018 to August 2020,
he also served as Interim Chief Financial Officer of Akers Biosciences, Inc.
From October 2014 to November 2019, Mr. Yeaton served as Interim Chief Financial
Officer of Propel Media, Inc., and from July 2014 to July 2015, Mr. Yeaton
served as Interim Chief Financial Officer of Energous Corporation, a public
company listed on the Nasdaq Capital Market; both clients of FCS. In addition,
prior to founding FCS, Mr. Yeaton served in various financial leadership
positions for Konica and Teco Energy. Mr. Yeaton began his career with Deloitte,
an international accounting and auditing firm. Mr. Yeaton earned a Bachelor of
Science in accounting from Florida State University and a Masters in Business
Administration from the University of Connecticut.
On November 7, 2021, the Company entered into an employment agreement (the
"Employment Agreement") with Mr. Yeaton. As compensation for his services as
interim Chief Financial Officer of the Company, upon his commencing employment
on November 12, 2021, Mr. Yeaton will receive (1) a salary of $360,000 per
annum; and (2) eligibility, subject to continued employment with the Company, to
participate in the executive benefit plans maintained by the Company. The above
description is a summary of the Employment Agreement and does not purport to be
complete and is subject to, and is qualified in its entirety by reference to the
full text of the Employment Agreement, which is filed as Exhibit 10.1 with this
Current Report on Form 8-K and is incorporated herein by reference.
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In connection with Mr. Yeaton joining the Company, the Company will enter into
its standard indemnification agreement with Mr. Yeaton, which requires the
Company under the circumstances and to the extent provided for therein, to
indemnify Mr. Yeaton to the fullest extent permitted by applicable law against
certain expenses and other amounts incurred by him as a result of him being made
a party to certain actions, suits, investigations and other proceedings by
reason of the fact that he is or was an officer or employee of the Company.
There are no family relationships between Mr. Yeaton and any of the Company's
directors or executive officers and he has no direct or indirect material
interest in any transaction required to be disclosed pursuant to Item 404(a) of
Regulation S-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
Exhibit No. Description
10.1 Employment Agreement between the Company and Howard R. Yeaton dated
November 7, 2021.
99.1 Press release dated as of November 10, 2021
104 Cover Page Interactive Data File (embedded within the Inline XBRL document)
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