UNITED STATES
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CURRENT REPORT
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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. |
As previously reported, the Board of Directors (the “Board”) of The Arena Group Holdings Inc. (the “Company”) appointed Paul Edmondson as interim Chief Executive Officer on February 12, 2025. On March 3, 2025, the Board approved Mr. Edmondson as full Chief Executive Officer of the Company.
In connection with his appointment as full Chief Executive Officer, on March 3, 2025, Mr. Edmondson was granted 400,000 options to purchase Company common stock under the Company’s Amended and Restated 2022 Stock and Incentive Compensation Plan, with an exercise price of $1.48 (the “Options”), which represents the closing price of Company’s common stock on March 3, 2025. The Options will vest on the four year anniversary of the grant date; provided, however, that the Options shall vest in full and become exercisable if the Company’s stock price closes at or above $12.00 per share for thirty consecutive calendar days.
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.
| THE ARENA GROUP HOLDINGS, INC. | ||
| Date: March 7, 2025 | ||
| By: | /s/ Paul Edmondson | |
| Name: | Paul Edmondson | |
| Title: | Chief Executive Officer | |