4//SEC Filing
Coffman Raymond Scott 4
Accession 0001654954-20-000514
CIK 0001644903other
Filed
Jan 15, 7:00 PM ET
Accepted
Jan 16, 7:07 AM ET
Size
6.4 KB
Accession
0001654954-20-000514
Insider Transaction Report
Form 4
cbdMD, Inc.YCBD
Coffman Raymond Scott
Director
Transactions
- Purchase
Common Stock
2020-01-14$1.00/sh+125,000$125,000→ 12,559,000 total(indirect: See Footnote)
Footnotes (1)
- [F1]The number of shares acquired by Mr. Coffman as reported in this Form 4 were purchased by him individually. The number of shares of common stock beneficially owned by Mr. Coffman after giving effect to this acquisition includes (i) 125,000 shares held by him directly, (ii) 3,684,000 shares held by Edge of Business, LLC ("Edge"), and (iii) 8,750,000 shares held by CBD Holding, LLC ("CBDH"), of which unrestricted voting rights to 2,187,500 shares vested on December 20, 2019. The unrestricted voting rights to the remaining 6,562,500 shares of common stock held by CBDH vest as follows: (i) 2,187,500 shares will vest on December 20, 2020; (ii) an additional 2,187,500 shares will vest on June 30, 2022; and (iii) the remaining 2,187,500 shares will vest on December 20, 2023. The independent chairman of the Audit Committee of the Issuer's Board of Directors holds voting rights over the remaining 6,562,500 shares for which unrestricted voting rights have yet to vest under the terms of a Voting Proxy Agreement dated December 20, 2018 (the "Proxy Agreement"), and will vote such shares on any matter brought before the Issuer's shareholders in accordance with the recommendation of the Issuer's Board of Directors. Mr. R. Scott Coffman holds voting and dispositive control over securities held of record by Edge. Mr. Coffman disclaims beneficial ownership of the securities held of record by Edge except to the extent of his pecuniary interest therein. Mr. Coffman holds voting and dispositive control over securities held of record by CBDH except to the extent limited by the Proxy Agreement. Mr. Coffman disclaims beneficial ownership of the securities held of record by CBDH except to the extent of his pecuniary interest therein.
Documents
Issuer
cbdMD, Inc.
CIK 0001644903
Entity typeother
Related Parties
1- filerCIK 0001761772
Filing Metadata
- Form type
- 4
- Filed
- Jan 15, 7:00 PM ET
- Accepted
- Jan 16, 7:07 AM ET
- Size
- 6.4 KB