SEC Form 8-K filed by Reed's Inc.
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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. |
Departure of Chief Executive Officer and Director
On March 23, 2026, Cyril A. Wallace, Jr. notified the Board of Directors (the “Board”) of Reed’s, Inc., a Delaware corporation (the “Company”), of his intent to resign from his role as Chief Executive Officer, principal executive officer and as a member of the Board, effective March 24, 2026 (the “Effective Date”). Mr. Wallace will remain an employee of the Company through March 31, 2026. Mr. Wallace’s departure from the Company is not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
Appointment of Interim Chief Executive Officer and Director
On March 24, 2026, upon the recommendation of the Nominating and Corporate Governance Committee of the Board (the “Nominating Committee”), the Board appointed Neal M. Cohane, Chief Operating Officer of the Company, as the interim Chief Executive Officer and principal executive officer, effective as of the Effective Date. Also on March 24, 2026, upon the recommendation of the Nominating Committee, the Board appointed Mr. Cohane to fill the vacancy on the Board created by the departure of Mr. Wallace, to serve until the Company’s 2026 annual meeting of stockholders or until his successor is duly appointed and qualified, or until his earlier death, resignation or removal.
Mr. Cohane, age 65, has served as Chief Operating Officer of the Company since January 2026. Mr. Cohane most recently served as Chief Sales Officer at Eastroc Beverage from March 2025 to December 2025. Previously, he served as the founder of Rootstock Brands, Inc. from January 2023 to February 2025. Before founding Rootstock, Mr. Cohane served as the Chief Sales Officer for the Company from August 2007 to December 2022. Previous to his prior employment with the Company, Mr. Cohane served in a number of roles at PepsiCo, SoBe and Coca-Cola. Mr. Cohane earned a B.S. in Business Administration from Merrimack College.
There are no arrangements or understandings between Mr. Cohane and any other person pursuant to which he was selected as an officer or director of the Company, and there is no family relationship between Mr. Cohane and any of the Company’s other executive officers or directors. There are no related party transactions between Mr. Cohane and the Company that would require disclosure under Item 404(a) of Regulation S-K. Mr. Cohane has entered into the Company’s standard form of indemnification agreement, a copy of which is filed as Exhibit 10.1 to the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission on April 1, 2024.
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 thereunto duly authorized.
| Reed’s, Inc. | ||
| Date: March 27, 2026 | By: | /s/ Douglas W. McCurdy |
| Douglas W. McCurdy | ||
| Chief Financial Officer | ||