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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported):
(Exact name of Registrant as Specified in Its Charter)
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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 Instructions A.2. below):
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Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||
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. ☐
| 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers. |
On March 30, 2022, FAT Brands Inc. (the “Company”) entered into a letter agreement with Kenneth J. Kuick, the Chief Financial Officer of the Company, providing Mr. Kuick with a retention bonus payment of $200,000 (the “Retention Bonus”) in recognition of his ongoing contributions to the Company. The Retention Bonus is repayable within thirty days if, prior to the time that the Company has duly filed both of its Annual Report on Form 10-K for the 2022 fiscal year and Quarterly Report on Form 10-Q for the first fiscal quarter of 2023, Mr. Kuick’s continuous employment with the Company ends for any reason, other than termination by the Company without cause. The Retention Bonus will also offset, on a dollar-for-dollar basis, any performance-based or discretionary bonus that Mr. Kuick may otherwise earn or be entitled to receive with respect to 2022.
The foregoing description of the letter agreement is a summary and qualified in its entirety by reference to the full copy, which is attached hereto as Exhibit 10.1 and incorporated by reference into this Item 5.02.
| Item 9.01 | Financial Statement and Exhibits. |
(d) Exhibits.
| Exhibit
No. |
Description | |
| 10.1 | Letter Agreement, dated March 30, 2022, by and between FAT Brands Inc. and Kenneth J. Kuick | |
| 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 hereunto duly authorized.
Date: April 5, 2022
| FAT Brands Inc. | ||
| By: | /s/ Andrew Wiederhorn | |
| Andrew Wiederhorn | ||
| Chief Executive Officer | ||
