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    YCBD   US12482W1018

CBDMD, INC.

(YCBD)
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cbdMD : Current Report (SEC Filing - 8-K)

03/17/2021 | 02:25am EDT

ycbd_8k



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) March 12, 2021
cbdMD, INC.
(Exact name of registrant as specified in its charter)
North Carolina
001-38299
47-3414576
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
8845 Red Oak Blvd, Charlotte, NC 28217
(Address of principal executive offices)(Zip Code)
Registrant's telephone number, including area code:(704) 445-3060
_______________________________________
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading Symbol(s)
Name of each exchange on which registered
common
YCBD
NYSE American
8% Series A Cumulative Convertible Preferred Stock
YCBDpA
NYSE American
Indicate by check mark whether the registrant is an emerging growth company as defined in in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☑
If an emerging growth company, indicate by checkmark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.07Submission of Matters to a Vote of Security Holders.
On March 12, 2021, cbdMD, Inc. held its 2021 annual meeting of shareholders where four proposals were voted upon. The proposals are described in detail in our definitive proxy statement on Schedule 14A filed with the Securities and Exchange Commission on January 25, 2021. Of the 52,287,113 shares of our common stock outstanding and entitled to vote at the annual meeting, 34,803,091 shares (or 66.6 %), constituting a quorum, were represented in person or by proxy at the 2021 annual meeting. At the meeting all the proposals were approved and the final vote on the proposals was recorded as follows:
Proposal 1:
The following directors were elected at the 2021 annual meeting of shareholders to hold office until the 2022 annual meeting of shareholders or their earlier resignation, removal or death:
Directors
'For'
'Against'
Broker Non-Votes
Martin A. Sumichrast
26,950,323
101,529
7,751,239
R. Scott Coffman
26,965,701
86,151
7,751,239
Bakari Sellers
26,887,862
163,990
7,751,239
William F. Raines, III
26,561,979
489,873
7,751,239
Peter J. Ghiloni
26,689,314
362,538
7,751,239
Scott G. Stephen
26,673,830
378,022
7,751,239
Sim Farar
26,983,961
67,891
7,751,239
Proposal 2:
The appointment of Cherry Bekaert LLP as our independent registered public accounting firm was ratified, based upon the following final tabulation of votes:
'For'
'Against'
'Abstain'
34,550,025
154,341
98,725
Proposal 3:
Our 2021 Equity Compensation Plan was approved, based upon the following final tabulation of votes:
'For'
'Against'
'Abstain'
24,168,884
2,682,714
200,254
Proposal 3:
The compensation of our named executive officers was approved, on a non-binding and advisory basis, based upon the following final tabulation of votes:
'For'
'Against'
'Abstain'
26,266,273
392,271
393,308
Item 8.01Other Events.
On March 12, 2021 following the adjournment of the 2021 annual meeting of our shareholders, our board of directors reappointed Martin A. Sumichrast as Chairman of the Board and co-Chief Executive Officer, R. Scott Coffman as co-Chief Executive Officer and President and T. Ronan Kennedy as Chief Financial Officer, Secretary and Treasurer. The board of directors made the following board committee appointments:
Audit Committee:
William F. Raines, III, Chairman
Bakari Sellers
Scott G. Stephen
Compensation, Corporate Governance and
Nominating Committee:
Bakari Sellers, Chairman
Peter Ghiloni
Sim Farar
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
cbdMD, Inc.
Date: March 16, 2021
By:
/s/ T. Ronan Kennedy
T. Ronan Kennedy, Chief Financial Officer and Chief Operating Officer
-2-

Disclaimer

cbdMD Inc. published this content on 16 March 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 17 March 2021 07:25:11 UTC.


© Publicnow 2021
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Financials (USD)
Sales 2021 50,2 M - -
Net income 2021 -26,0 M - -
Net cash 2021 19,6 M - -
P/E ratio 2021 -5,73x
Yield 2021 -
Capitalization 152 M 152 M -
EV / Sales 2021 2,64x
EV / Sales 2022 2,29x
Nbr of Employees 165
Free-Float 63,7%
Chart CBDMD, INC.
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Technical analysis trends CBDMD, INC.
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 3
Last Close Price 2,58 $
Average target price 5,42 $
Spread / Average Target 110%
EPS Revisions
Managers and Directors
Martin A. Sumichrast Chairman & Co-Chief Executive Officer
Raymond Scott Coffman President, Co-Chief Executive Officer & Director
T. Ronan Kennedy Chief Operating & Financial Officer
Sibyl Swift Vice President-Scientific & Regulatory Affairs
Bakari Sellers Independent Director
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