Reeds Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
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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.
(a)(1) (i) On March 17, 2025, Lewis Jaffe submitted his resignation from the Board of Directors (“Board”) of Reed’s, Inc., a Delaware corporation (“Reed’s” or the “company”), to be effective March 31, 2025.
(ii) Mr. Jaffe is currently the Chair of the Governance Committee of the Board and a member of each of the Compensation and Audit Committees.
(iii) In his letter of resignation, Mr. Jaffe notified the Board that he attributed his decision to “recent changes in ownership, leadership and decision-making processes”. He further stated that “[his] decision [was] driven by a fundamental difference in views regarding corporate governance and the role of the board in guiding the company’s strategic direction, as well as the majority investor’s desire to replace the independent directors over time.”
(2) A copy of Mr. Jaffe’s correspondence describing the circumstances surrounding his resignation is attached hereto as Exhibit 17.
(3) The company (i) has provided Mr. Jaffe with a copy of the disclosures it is making in response to this Item 5.02 prior to filing the disclosures with the Commission; (ii) is providing Mr. Jaffe with the opportunity to furnish the company as promptly as possible with a letter addressed to the company stating whether he agrees with the statements made by the company in response to this Item 5.02 and, if not, stating the respects in which he does not agree; and (iii) will file any letter received by the company from Mr. Jaffe with the SEC as an exhibit by an amendment to this previously filed Form 8-K within two business days after receipt by the company.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
| Exhibit No. | Description | |
| 17 | Correspondence from Lewis Jaffe dated March 17, 2025. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURE
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, thereunto duly authorized.
| REEDS, INC., | ||
| a Delaware corporation | ||
| Dated: March 21, 2025 | By: | /s/ Norman E. Snyder, Jr. |
| Norman E. Snyder, Jr., | ||
| Chief Executive Officer | ||