REED'S, INC. 8-K

What Happened
Reed's, Inc. (REED) filed an 8‑K reporting that CEO Cyril A. Wallace, Jr. resigned as CEO and director effective March 24, 2026, remained an employee through March 31, 2026, and will serve as a consultant through April 30, 2026. The company and Mr. Wallace entered into a Separation Agreement dated April 16, 2026 that provides specified separation payments and resolves certain equity terms originally set forth in his April 16, 2025 employment agreement.

Key Details

• Severance payment: one month of annual base salary, gross $58,333.33.
• COBRA payment: lump sum equal to one month of COBRA premium, gross $2,836.60.
• Equity and cash settlement: Compensation Committee approved on April 15, 2026 (i) a restricted stock award of 36,657 shares to be issued and fully vested on or before April 30, 2026, and (ii) a cash payment of $36,336.30 (10,010 × $3.63, the NYSE American closing price on the Separation Date).
• Waiver: the company waived Mr. Wallace’s obligations to repay his sign‑on bonus and relocation expenses under his employment agreement.
• Timing: resignation effective March 24, 2026; employee through March 31, consultant through April 30; Separation Agreement dated April 16, 2026 (filed as Exhibit 10.1).

Why It Matters
This filing documents a leadership change and the one‑time costs and equity actions tied to the CEO’s departure. For investors, the cash amounts are modest and the equity issuance (36,657 shares, fully vested at issuance) may have a small dilutive effect. The company also removed repayment obligations for prior sign‑on/relocation amounts, which increases the net cost of the separation. Watch for subsequent filings or announcements about a permanent CEO or other executive changes and any disclosures on the company’s cash position or updated share count.