Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 13, 2021, Mr. Hilton H. Schlosberg was elected by the Board of
Directors (the "Board") of Monster Beverage Corporation (the "Company") as
Co-Chief Executive Officer of the Company. Mr. Schlosberg will serve as Co-Chief
Executive Officer together with Mr. Rodney C. Sacks. Mr. Schlosberg has held
senior leadership positions with the Company for over 30 years, including as the
Company's Chief Financial Officer for over 23 years, and has served as a
co-leader of the Company with Mr. Sacks. Simultaneously with the foregoing, Mr.
Schlosberg resigned his positions as President, Chief Financial Officer, Chief
Operating Officer and Secretary of the Company. Mr. Sacks will continue as
Chairman of the Board and Mr. Schlosberg will continue as Vice Chairman of the
In addition, on January 13, 2021, Mr. Thomas J. Kelly was elected by the Board
as Chief Financial Officer of the Company, succeeding Mr. Schlosberg. Mr. Kelly
has been Executive Vice President, Finance, and/or Controller and Secretary of
Monster Energy Company since 1992. Mr. Kelly is a Certified Public Accountant
(inactive) and has worked in the beverage business for over 30 years.
Additional biographical and other information regarding Mr. Schlosberg, Mr.
Sacks and Mr. Kelly required by Item 5.02(c) of Form 8-K is included in the
Company's definitive proxy statement on Schedule 14A filed with the Securities
and Exchange Commission on April 21, 2020, and such information is
incorporated by reference into this Item 5.02(c).
A copy of the Company's press release is attached hereto as Exhibit 99.1.
Item 7.01. Regulation FD Disclosure.
On January 14, 2021, Mr. Sacks and Mr. Schlosberg will host a virtual investor
meeting to provide an update on the Company's business and operations.
The Company's presentation will be open to all interested parties as a live
webcast at approximately 4:30 p.m. Eastern Time on the "Events & Presentation"
section of the Company's website at www.monsterbevcorp.com. A copy of the slides
that will be used in the meeting is furnished as Exhibit 99.2 hereto. For those
who are not able to join the live webcast, the event will be archived for
approximately one year on the website.
Item 9.01. Financial Statements and Exhibits.
99.1 Press Release.
99.2 Presentation Slides.
Exhibit The cover page from this Current Report on Form 8-K, formatted in iXBRL
104 (Inline eXtensible Business Reporting Language).
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