0001854139false00018541392023-07-212023-07-21

 

 

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): July 21, 2023

ZEVIA PBC

(Exact Name of Registrant as Specified in Its Charter)

Delaware

001-40630

86-2862492

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

 

 

 

15821 Ventura Blvd., Suite 135, Encino, CA

91436

(Address of Principal Executive Offices)

(Zip Code)

(855) 469-3842

(Registrant’s Telephone Number, Including Area Code)

Former Name or Former Address, if Changed Since Last Report: N/A

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:

 

☐

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

Class A common stock, par value $0.001 per share

 

ZVIA

 

New York Stock Exchange

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 July 21, 2023, Zevia PBC (the “Company”) and Mr. Quincy B. Troupe, the Company’s Chief Operating Officer, mutually agreed to terms pursuant to which Mr. Troupe will step down as the Company’s Chief Operating Officer and separate from employment effective as of August 4, 2023 (the “Separation Effective Date”).

In connection with Mr. Troupe’s departure, the Company and Mr. Troupe entered into a separation agreement and general release of claims (the “Separation Agreement”) providing for certain benefits upon effectiveness of the agreement, including (i) aggregate severance payments in an amount equal to $196,500.00 payable in equal installments in accordance with the Company’s normal payroll practices for a six month period, (ii) partial reimbursement of the COBRA premiums for Mr. Troupe and his covered dependents’ participation in the Company’s group health plans for up to six months, and (iii) acceleration of vesting of 18,285 restricted stock units.

The Separation Agreement provides that Mr. Troupe will remain bound by his existing confidentiality covenants and includes a general release of claims by Mr. Troupe in favor of the Company.

 

 

 

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.

 

ZEVIA PBC

Date: July 24, 2023

/s/ LORNA R. SIMMS

 Name:

Lorna R. Simms

 Title:

SVP, General Counsel and Corporate Secretary

 

 

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Document and Entity Information
Jul. 21, 2023
Cover [Abstract]  
Amendment Flag false
Entity Central Index Key 0001854139
Document Type 8-K
Document Period End Date Jul. 21, 2023
Entity Registrant Name ZEVIA PBC
Entity Incorporation, State or Country Code DE
Securities Act File Number 001-40630
Entity Tax Identification Number 86-2862492
Entity Address, Address Line One 15821 Ventura Blvd
Entity Address, Address Line Two Suite 135
Entity Address, City or Town Encino
Entity Address, State or Province CA
Entity Address, Postal Zip Code 91436
City Area Code 855
Local Phone Number 469-3842
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Title of 12(b) Security Class A common stock, par value $0.001 per share
Trading Symbol ZVIA
Security Exchange Name NYSE
Entity Emerging Growth Company true
Entity Ex Transition Period false
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