UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

_________________________

FORM 8-K

_________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

~~December~~January 1110, ~~2024~~2025

Date of Report (Date of earliest event reported)

_________________________

Krispy Kreme, Inc.

(Exact name of registrant as specified in its charter)

_________________________


Delaware	001-40573	37-1701311
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

2116 Hawkins Street, Charlotte, North Carolina 28203

(Address of principal executive offices)

(800) 457-4779

(Registrant’s telephone number, including area code)

N/A

(Former name or former address, if changed since last report)

_________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-14(c) under the Exchange Act (17 CFR 240.13e-14(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common stock, $0.01 par value per share

DNUT

NASDAQ Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 15.0502. ~~Material~~Departure ~~Cybersecurity~~of ~~Incidents.~~Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

OnIn its Current Report on Form 8-K filed with the Securities and Exchange Commission on November 2913, 2024, Krispy Kreme, Inc. (the “Company”) ~~was~~reported ~~notified~~that ~~regarding~~Matthew ~~unauthorized~~Spanjers ~~activity~~would onbe aresigning ~~portion~~from ofhis ~~its~~position ~~information~~as ~~technology~~the ~~systems~~Company’s Chief Growth Officer and President, International, on or about December 31, 2024. ~~The~~Mr. ~~Company~~Spanjers ~~immediately~~has ~~began~~resigned ~~taking~~from ~~steps~~those positions but will remain an employee of and provide services to ~~investigate~~the Company through March 31, ~~contain~~2025 (the “Separation Date”), pursuant to an Agreement and ~~remediate~~General Release entered into on January 10, 2025 (the ~~incident~~“Transition Agreement”). This transition is consistent with the ~~assistance~~other ofrecently ~~leading~~announced ~~cybersecurity~~changes ~~experts.~~to the Company’s Global Leadership Team.

~~Krispy~~Pursuant ~~Kreme~~to ~~shops~~the ~~globally~~Transition ~~are open~~Agreement, ~~and~~within ~~consumers~~60 ~~are~~days ~~able~~following tothe ~~place~~date ~~orders~~that inthe ~~person,~~Company ~~but~~receives ~~the~~an ~~Company~~executed termination certificate (a form of which is ~~experiencing~~attached ~~certain~~as ~~operational~~Exhibit ~~disruptions~~A to the Transition Agreement) from Mr. Spanjers, ~~including~~he ~~with~~will ~~online~~receive ~~ordering~~(less inapplicable ~~parts~~deductions): (i) a severance payment of $800,000; (ii) COBRA coverage totaling $40,717; and (iii) outplacement services at a cost to the ~~United~~Company ~~States~~of $17,500. In ~~Daily~~addition, ~~fresh~~Mr. ~~deliveries~~Spanjers’ tooutstanding ~~our~~restricted ~~retail~~equity awards under the Company’s Long-Term Incentive Plan and ~~restaurant~~the ~~partners~~Company’s ~~are~~2021 ~~uninterrupted.~~Omnibus Incentive Plan will vest on a pro rata basis based upon days worked during the awards’ respective vesting periods through the Separation Date.

~~The~~In ~~Company,~~exchange ~~along~~for ~~with~~the ~~its~~separation ~~external~~benefits ~~cybersecurity~~set ~~experts~~forth above, ~~continues~~Mr. toSpanjers ~~work~~has ~~diligently~~(i) toprovided ~~respond~~the toCompany with a general release and ~~mitigate~~waiver ~~the~~of ~~impact~~claims ~~from~~(which ~~the~~is ~~incident,~~to ~~including~~be ~~the~~provided ~~restoration~~again as of ~~online~~the ~~ordering~~Separation Date), and ~~has~~(ii) ~~notified~~agreed ~~federal~~to ~~law~~be ~~enforcement.~~bound Asby ~~the~~restrictive ~~investigation~~covenants, ofincluding ~~the~~those ~~incident~~relating isto ~~ongoing~~non-disparagement, ~~the full scope~~confidentiality, ~~nature~~cooperation, and ~~impact~~non-solicitation of ~~the~~customers ~~incident~~and ~~are not yet known~~employees.

AsThe offoregoing ~~the~~description ~~date~~ of ~~this filing,~~ the ~~incident~~Transition ~~has~~Agreement ~~had~~does ~~and~~not ispurport ~~reasonably likely~~ to ~~have~~be acomplete ~~material~~and ~~impact~~is onqualified ~~the~~in ~~Company’s~~its ~~business~~entirety ~~operations~~by ~~until~~reference ~~recovery efforts are completed. The expected costs related~~ to the ~~incident,~~Transition ~~including the loss of revenues from digital sales during the recovery period~~Agreement, ~~fees~~which ~~for~~is ~~our~~filed ~~cybersecurity~~as ~~experts~~Exhibit ~~and other advisors, and costs to restore any impacted systems, are reasonably likely to have a material impact on the Company’s results of operations and financial condition~~10.1 ~~The Company holds cybersecurity insurance that is expected~~ to ~~offset a portion of the costs of the incident. The Company does not expect~~ this ~~will~~Current ~~have~~Report ~~a long-term material impact~~ on ~~its~~Form ~~results~~8-K ofand ~~operations~~incorporated ~~and~~herein ~~financial~~by ~~condition~~reference.

~~Cautionary~~Item ~~Note~~9.01. ~~Regarding~~Financial ~~Forward-Looking~~ Statements and Exhibits

~~This Form 8-K contains forward-looking statements that involve risks and uncertainties.~~ The ~~words~~following ~~“continues,”~~exhibits ~~“experiencing,” “expect,” “ongoing,” or similar words, or the negative of these words, identify forward-looking statements. Such forward-looking statements~~ are ~~based~~filed onwith certain assumptions and estimates that we consider reasonable but are subject to various risks and uncertainties relating to our operations, financial results, financial conditions, business, prospects, growth strategy and liquidity. Accordingly, there are, and may be, important factors that could cause our actual results to differ materially from those indicated in these statements. The inclusion of this ~~forward-looking~~Current information should not be regarded as a representation by us that the future plans, estimates or expectations contemplated by us will be achieved. The final outcome of this matter could differ materially from the forward-looking statements included herein. Factors that could cause actual results to differ from those expressed in forward-looking statements include, without limitation, the risks and uncertainties described under the headings “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” in our Annual Report on Form 108-K for the year ended December 31, 2023, filed by us with the Securities and Exchange Commission (“SEC”) and described in the other filings we make from time to time with the SEC. We believe that these factors include, but are not limited to, the completion of the Company’s investigation into the incident, the ultimate results and timing of the Company’s containment and remediation efforts, the final amount of costs related to the incident, the insurance coverage available to offset our costs, and the potential impact on the Company’s business operations, results of operations, and financial conditions. These forward-looking statements are made only as of the date of this document, and we do not undertake any obligation, other than as may be required by applicable law, to update or revise any forward-looking or cautionary statement to reflect changes in assumptions, the occurrence of events, unanticipated or otherwise, or changes in future operating results over time or otherwise.:


			Exhibit No.						Description
			10.1†						Agreement and General Release, dated as of January 10, 2025, by and between Krispy Kreme Doughnut Corporat ion and Matthew Spanjers
			104						Cover Page Interactive Data File (embedded within the inline XBRL document)

_________________________________________

† Compensatory plan or arrangement.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

KRISPY KREME, INC.

Dated: ~~December~~January 1015, ~~2024~~2025

By: /s/ Jeremiah Ashukian


Name:			Jeremiah Ashukian
Title:			Chief Financial Officer

Filing Compare · Krispy Kreme, Inc.