Digital Brands Group, Inc. Appoints Independent Director David Sosnowski

What Happened

• Digital Brands Group, Inc. (DBGI) filed an 8-K reporting that, effective July 14, 2026, it appointed David Sosnowski as an independent member of its Board of Directors pursuant to a Director Agreement.
• The appointment is for an initial one-year term (with successive one-year renewals) and will continue until the next annual meeting of shareholders or earlier resignation, removal or death.

Key Details

• Cash retainer: Mr. Sosnowski will receive an annual cash retainer of $100,000, payable quarterly beginning July 31, 2026.
• Equity award: He was granted non-qualified stock options to purchase up to 20,000 shares at an exercise price of $5.00 per share.
• Vesting and term: Options vest at 25% per quarter starting on the grant date and expire five years from issuance.
• Agreement: Compensation and term are set under a Director Agreement between DBGI and Mr. Sosnowski.

Why It Matters

• Governance: Adding an independent director can affect board oversight and corporate governance, which investors monitor for leadership and strategy signals.
• Financial impact: The appointment creates an ongoing cash expense of $100,000 per year and potential share dilution if the 20,000 options are exercised.
• Disclosure: This change was reported under Item 5.02 of the 8-K filed July 20, 2026, so investors have official notice of the board and compensation change.