Arhaus Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$ARHS
Other Specialty Stores
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
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CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 22, 2025
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(Exact name of registrant as specified in its charter)
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(Address of Principal Executive Offices)
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(440 ) 439-7700
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 22, 2025, Michael Lee (age 52) was appointed Chief Financial Officer of Arhaus, Inc. (the “Company”), effective May 12, 2025. Prior to joining the Company, he was Chief Financial Officer and President of Operations and Supply Chain of Ste. Michelle Wine Estates (a premium wine company) from 2022 to 2025. Prior to his employment with Ste. Michelle Wine Estates, Mr. Lee was Executive Vice President and Chief Financial Officer at Canopy Growth Corporation (a diversified cannabis company) from 2019 to 2021 and served in various leadership roles at Constellation Brands, Inc. (an international producer and marketer of beer, wine and spirits) from 2013 to 2019, most recently as Senior Vice President, Business Transformation.
In connection with his appointment, Mr. Lee will receive a base salary of $550,000, subject to review and adjustment on an annual basis, and will be eligible for annual cash incentive awards and long-term equity plan awards as determined by the Compensation Committee. For 2025, his annual cash incentive award target represents 60% of his base salary. Any payout under this incentive award shall be determined by the Compensation Committee based on the achievement of certain performance goals. Mr. Lee will receive a one-time sign-on bonus of $250,000 in connection with the start of his employment, which is subject to clawback to the extent his service is less than twelve months. Mr. Lee will also receive 400,000 restricted stock units under the Arhaus, Inc. 2021 Equity Incentive Plan, subject to applicable vesting provisions over a five-year period. Mr. Lee will be eligible to participate in the Company’s severance and benefit plans in accordance with the Company’s customary policies, and consistent with the Company’s other executive officers. Mr. Lee is also eligible to receive a one-time payment of $10,000 for relocation costs, as well as $3,000 per month as reimbursement for certain commuting costs through July 2026. Mr. Lee has no family relationship with any director or executive officer of the Company and Mr. Lee has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K.
Item 9.01 Financial Statements and Exhibits
(d) The following exhibits are being filed herewith:
| Exhibit No. | Description | |||||||
| 104 | Cover Page with Interactive Data File (embedded within the Inline XBRL document). | |||||||
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized on this 28th day of April, 2025.
| ARHAUS, INC. | |||||
By: | /s/ Christian Sedor | ||||
Name: | Christian Sedor | ||||
Title: | Chief Accounting Officer | ||||