Item 1.01. Entry into a Material Definitive Agreement.

On June 3, 2020, Craft Brew Alliance, Inc. (the "Company"), and Bank of America, N.A. ("BofA"), executed a Fifth Amendment (the "Amendment") to the Amended and Restated Credit Agreement dated as of November 30, 2015 (the "Credit Agreement"), by and among the Company as borrower, its subsidiaries as guarantors, and BofA as lender. The primary changes effected by the Amendment were to: (i) revise the definitions of Eurodollar Fixed Rate and Eurodollar Floating Rate contained in Section 1.01 of the Credit Agreement to provide that such rates may not be less than 0.75% at any time; and (ii) amend Section 2.05(d) to delay the loan commitment reductions of the revolving credit facility from March 31, 2020 to March 31, 2021.

The Credit Agreement provides for a $45,000,000 reducing revolving facility, including a $2,500,000 sublimit for the issuance of standby letters of credit, as well as a term loan facility in the amount of $8,191,000 as of the date of this report. As amended, the maximum amount of the revolving facility is subject to loan commitment reductions in the amount of $750,000 each quarter beginning March 31, 2021. The Company may use the proceeds of the credit facility for general corporate purposes, including capital expenditures. The term of the credit facility expires on September 30, 2023.

Except as specifically amended by the Amendment, the Credit Agreement remains in full force and effect according to its terms. The foregoing description of the Amendment is qualified in its entirety by reference to the full text of the Amendment, a copy of which is filed as Exhibit 10.1 to this report and is incorporated herein by reference.




Item 2.03.         Creation of a Direct Finance Obligation or an Obligation under an Off-Balance
                   Sheet Arrangement of a Registrant.

The information set forth in Item 1.01 of this report is by this reference incorporated in this Item 2.03.




Item 5.07   Submission of Matters to a Vote of Security Holders.

(a)The Annual Meeting of Shareholders of the Company was held on May 29, 2020 (the "Meeting").

(b)Three matters, which are more fully described in the Company's definitive proxy statement filed with the Securities and Exchange Commission, were submitted to a vote at the Meeting:

1.To elect eight directors;

2.To ratify the appointment of Grant Thornton LLP as the Company's independent registered public accounting firm for 2020; and

3.To approve, by non-binding vote, the Company's named executive officer compensation.

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At the Meeting, 17,066,758 shares of common stock were represented in person or by proxy, or 87.5 percent of the 19,505,106 shares outstanding and entitled to vote at the Meeting as of March 24, 2020, the record date for the Meeting, and constituted a quorum. Each share was entitled to one vote at the Meeting.



1. Election of Directors. The following directors were elected at the Meeting by
the votes cast as follows:
Nominee                         For            Withheld         Broker Non-votes
Timothy P. Boyle             12,780,194       1,021,304            3,265,260
Marc J. Cramer               13,204,686         596,812            3,265,260
Paul D. Davis                13,235,353         566,145            3,265,260
Matthew E. Gilbertson        13,711,385          90,113            3,265,260
Kevin R. Kelly               13,203,041         598,457            3,265,260
David R. Lord                13,198,701         602,797            3,265,260
Nickolas A. Mills            13,711,420          90,078            3,265,260
Jacqueline S.Woodward        13,723,003          78,495            3,265,260

2. Ratification of Auditors. The proposal to ratify the selection of Grant Thornton LLP as the Company's independent registered public accounting firm for 2020 was approved by the following vote:


     For            Against       Abstentions
  16,917,282        45,124          104,352

3. Say on Pay. The proposal to approve, by non-binding vote, the Company's named executive officer compensation, as recommended by the Board of Directors, passed by the following vote:


     For            Against       Abstentions        Broker Non-votes
  13,391,488        397,083          12,927             3,265,260


Item 9.01.     Financial Statements and Exhibits.

(d) Exhibits:

The following exhibit is filed with this Form 8-K:

10.1 Fifth Amendment to Amended and Restated Credit Agreement, dated June 3 , 2020, by and among Craft Brew Alliance, Inc., its subsidiaries, and Bank of America, N.A.

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