UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 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): February 28, 2022 |
Winc, Inc.
(Exact name of Registrant as Specified in Its Charter)
Delaware | 001-41055 | 45-2988960 | ||
(State or Other Jurisdiction | (Commission File Number) | (IRS Employer | ||
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1751 Berkeley St, Studio 3 |
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Santa Monica, California |
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(Address of Principal Executive Offices) |
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Registrant’s Telephone Number, Including Area Code: (800) 297-1760 |
N/A |
(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:
Securities registered pursuant to Section 12(b) of the Act:
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| Trading |
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Common Stock, $0.0001 par value per share |
| WBEV |
| NYSE American LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined 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 check mark 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 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On February 28, 2022, the Compensation Committee of the Board of Directors (the "Board") of Winc, Inc. (the "Company") approved an amendment and restatement of the Company's Executive Severance Plan (the "Amended and Restated Executive Severance Plan"). The Amended and Restated Executive Severance Plan reduces the severance payments and benefits in the event of a qualifying termination (outside of the change in control context) as follows: (i) a cash severance payment equal to six months' base compensation (rather than 12 months' base compensation); (ii) six months' COBRA coverage (rather than 12 months' COBRA coverage); and (iii) no accelerated vesting of time-vesting Company equity awards (rather than 25% forward-vesting of such awards).
The foregoing summary of the Amended and Restated Executive Severance Plan is not complete and is qualified in its entirety by reference to the full text of the Amended and Restated Executive Severance Plan, a copy of which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated in this Item 5.02 by reference. Any capitalized term used and not defined in this Item 5.02 shall have the same meaning set forth in the Amended and Restated Executive Severance Plan.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. |
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10.1 |
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104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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 thereunto duly authorized.
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| WINC, INC. |
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Date: | March 3, 2022 | By: | /s/ Geoffrey McFarlane |
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| Geoffrey McFarlane |