Playboy, Inc. 8-K

What Happened
Playboy, Inc. (PLBY) announced that independent director Natalia Premovic resigned from the Board effective December 15, 2025. Following her resignation the Board has three independent directors, three non‑independent directors and one vacant seat; the company notified Nasdaq of temporary noncompliance with Nasdaq Listing Rule 5605(b) and received a deficiency letter on December 18, 2025.

Key Details

• Resignation: Natalia Premovic resigned effective December 15, 2025, citing personal reasons and not any disagreement with the company.
• Board composition after resignation: 3 independent directors, 3 non‑independent directors, 1 vacant seat (to be filled by an independent director).
• Nasdaq action: Company notified Nasdaq on December 16, 2025; Nasdaq issued a deficiency letter on December 18, 2025, citing noncompliance with Rule 5605(b) (majority independent directors).
• Cure plan and trading: Playboy will rely on the cure period under Nasdaq Listing Rule 5605(b)(1)(A), expected to run through the company’s 2026 annual meeting, and expects to appoint a replacement independent director within that period. The Nasdaq deficiency does not affect immediate listing or trading of PLBY shares.

Why It Matters
Loss of an independent director put Playboy temporarily out of compliance with Nasdaq’s board composition rule, which is a corporate governance requirement investors watch closely. The company has a defined cure period to restore a majority of independent directors and says it will fill the vacancy within that timeframe. For investors, the immediate market listing and trading of PLBY are unaffected, but governance compliance will be a near‑term item to monitor.