Axil Brands, Inc. 8-K

What Happened

• Axil Brands, Inc. announced that director Peter Dunne resigned from the Board and its committees, effective January 15, 2026. The company stated the resignation was not due to any disagreement with the company’s operations, policies, or practices.
• On the same day (January 15, 2026), the Board appointed Thomas Penna, age 64, as a Class II director to fill the vacancy. His initial term runs until the company’s 2028 annual meeting (or earlier if he leaves for other reasons).

Key Details

• Resignation effective date: January 15, 2026; no disagreement with the company reported.
• New director: Thomas Penna, 64, with over 35 years’ experience in professional hair care and salon industries (former CEO of Penko Beauty LLC; founder/manager of a multi-location salon group).
• Committee roles: Mr. Penna will join the Audit Committee and Compensation Committee and will chair the Nominating and Corporate Governance Committee.
• Compensation and conflicts: Mr. Penna will receive the company’s standard non-employee director annual compensation (as described in the Oct 23, 2025 proxy). No related agreements or reportable transactions between Mr. Penna and the company were disclosed.

Why It Matters

• Board composition and committee leadership affect corporate oversight (audit, compensation, governance). Investors should note the immediate replacement and that the company reported no disagreement or related-party issues tied to the change.
• The appointment brings industry experience in hair care and salon distribution, which may be relevant to Axil Brands’ strategic oversight. The filing contains no financial impact or other material terms beyond standard director compensation.