LQR House Inc.: CEO resigns; company to pay $500,000

What happened

• The filing says that on Oct 16, 2026 LQR House Inc entered into a Resignation and Release Agreement with Sean Dollinger under which Mr. Dollinger resigned as chief executive officer and from all other positions, effective Oct 16, 2026, and that his employment agreement dated Mar 29, 2023 is terminated as of the resignation date.
• The filing says the company agreed to provide Mr. Dollinger a 1-time lump-sum cash payment of $500,000 within 8 days following the Resignation Date and to transfer all issued and outstanding capital stock of LQR House Acquisition Corp. to an entity designated by Mr. Dollinger, subject to a separate Stock Purchase Agreement.
• The filing says the company entered into a Stock Purchase Agreement dated Oct 16, 2026 with Boston Crest PVT LTD (owned and controlled by Kumar Abhishek) and Mr. Dollinger to effect the stock transfer for LQR House Acquisition Corp.; the Stock Purchase Agreement states no separate cash purchase price is payable by the purchaser and that the closing shall occur no later than 60 days following the Resignation Date.
• The filing says the Stock Purchase Agreement assigns to the purchaser certain contracts and ordinary-course expenses related to the operation of cwspirits.com, includes indemnification for the company, and that the Resignation Agreement provides mutual releases, certain indemnification and advancement rights for Mr. Dollinger, maintenance of directors’ and officers’ liability insurance for at least 6 years, and an obligation for the company to use commercially reasonable efforts to change its legal name to a name that does not include “LQR House” within 90 days following Oct 16, 2026. The filing also says a press release announced the resignation and the appointment of Mr. Chen as the company’s new chief executive officer.

Key details

• Resignation date: Oct 16, 2026.
• Cash payment to former CEO: $500,000 payable within 8 days after the resignation date.
• Equity transfer: all issued and outstanding capital stock of LQR House Acquisition Corp. to be transferred as part of settlement; Stock Purchase Agreement closing no later than 60 days after the resignation date.
• Insurance and indemnity: company to provide specified indemnification and advancement rights and maintain D&O coverage for at least 6 years.

Why it may matter

• The filing reports Item 1.01 (entry into material definitive agreements covering the resignation and settlement), Item 5.02 (departure of an officer), and Item 7.01 (Regulation FD disclosure via press release announcing the resignation and new CEO appointment). The filing does not show why the insider traded or why the company acted.