Form 8-K - Current report
21 12월 2023 - 6:24AM
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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
Date
of Report (Date of earliest event reported): December 14, 2023
FAT
Brands Inc.
(Exact
name of Registrant as Specified in Its Charter)
Delaware |
|
001-38250 |
|
82-1302696 |
(State
or Other Jurisdiction
of
Incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
9720
Wilshire Blvd., Suite 500
Beverly
Hills, CA |
|
90212 |
(Address
of Principal Executive Offices) |
|
(Zip
Code) |
Registrant’s
Telephone Number, Including Area Code: (310) 319-1850
Not
Applicable
(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 Instructions 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-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Class
A Common Stock |
|
FAT |
|
The
Nasdaq Stock Market LLC |
Class
B Common Stock |
|
FATBB |
|
The
Nasdaq Stock Market LLC |
Series
B Cumulative Preferred Stock |
|
FATBP |
|
The
Nasdaq Stock Market LLC |
Warrants
to purchase Common Stock |
|
FATBW |
|
The
Nasdaq Stock Market LLC |
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
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
of Certain Officers.
The
information set forth under Item 5.07 below is incorporated by reference into this Item 5.02.
Item
5.07 Submission of Matters to a Vote of Security Holders.
2023
Annual Meeting of Stockholders
On
December 14, 2023, FAT Brands Inc. (the “Company”) held its 2023 Annual Meeting of Stockholders (the “Annual Meeting”).
At the Annual Meeting, four proposals were submitted for a vote of the Company’s stockholders, which proposals are described in
the Company’s proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on November 3, 2023 (the
“Proxy Statement”). Holders of shares of Class A Common Stock and Class B Common Stock voted together as a single class on
all matters (including the election of directors) submitted to a vote of stockholders at the Annual Meeting. The number of votes cast
for and against and the number of abstentions and broker non-votes with respect to each matter voted upon are set forth below, which
amounts reflect an aggregate of the number of votes per share to which all classes of common stock were entitled to vote at the Annual
Meeting. The aggregate voting power of all outstanding classes of common stock at the Annual Meeting amounted to 2,557,128,518 votes.
(1)
Election of Directors. Stockholders elected 14 nominees for director to the Company’s Board of Directors to hold office until
the 2024 Annual Meeting of Stockholders and until their respective successors have been duly elected and qualified. The votes regarding
this proposal were as follows:
Name
of Nominee |
|
For |
|
Withheld |
|
Broker
Non-Votes |
John
S. Allen |
|
1,863,001,370 |
|
5,447,487 |
|
241,307,339 |
Donald
J. Berchtold |
|
1,692,523,130 |
|
175,925,727 |
|
241,307,339 |
Tyler
B. Child |
|
1,686,088,274 |
|
182,360,584 |
|
241,307,339 |
Lynne
L. Collier |
|
1,696,641,350 |
|
171,807,508 |
|
241,307,339 |
Mark
Elenowitz |
|
1,819,982,608 |
|
48,466,230 |
|
241,307,339 |
James
G. Ellis |
|
1,863,593,456 |
|
4,855,401 |
|
241,307,339 |
Peter
R. Feinstein |
|
1,863,566,299 |
|
4,882,538 |
|
241,307,339 |
Matthew
H. Green |
|
1,862,777,659 |
|
5,671,199 |
|
241,307,339 |
John
C. Metz |
|
1,715,131,424 |
|
153,317,414 |
|
241,307,339 |
Carmen
Vidal |
|
1,697,540,968 |
|
170,907,889 |
|
241,307,339 |
Andrew
A. Wiederhorn |
|
1,690,647,333 |
|
177,801,525 |
|
241,307,339 |
Mason
A. Wiederhorn |
|
1,690,673,079 |
|
177,775,779 |
|
241,307,339 |
Taylor
A. Wiederhorn |
|
1,690,647,057 |
|
177,801,801 |
|
241,307,339 |
Thayer
D. Wiederhorn |
|
1,690,421,260 |
|
178,027,598 |
|
241,307,339 |
(2)
Amendment and Restatement of the Company’s 2017 Omnibus Equity Incentive Plan. The proposal to approve an amendment and restatement
of the Company’s 2017 Omnibus Equity Incentive Plan (the “Plan”) was approved. The votes regarding this proposal were
as follows:
For |
|
Against |
|
Abstained |
|
Broker
Non-Votes |
1,759,415,962 |
|
107,881,459 |
|
1,151,414 |
|
241,307,361 |
(3)
Advisory Vote on the Compensation of Named Executive Officers. The proposal to approve, on a non-binding advisory basis, the compensation
of the Company’s named executive officers was approved. The votes regarding this proposal were as follows:
For |
|
Against |
|
Abstained |
|
Broker
Non-Votes |
1,742,731,549 |
|
120,440,884 |
|
5,274,423 |
|
241,309,341 |
(4)
Ratification of Appointment of Independent Registered Public Accounting Firm. The proposal to ratify the selection of Macias Gini
& O’Connell, LLP as the Company’s independent registered public accounting firm for the fiscal year ending December 31,
2023 was approved. The votes regarding this proposal were as follows:
For |
|
Against |
|
Abstained |
|
Broker
Non-Votes |
2,096,040,426 |
|
13,226,548 |
|
489,223 |
|
N/A |
Re-Issuance
of Excess Awards under the Plan
As
discussed in further detail in the Proxy Statement, following the completion of the Annual Meeting on December 14, 2023, a sub-committee
of the Compensation Committee authorized to administer the Plan (the “Committee”) met and reviewed the awards of stock options
and restricted stock previously granted under the Plan in excess of 50,000 shares per annum (referred to herein and in the Proxy
Statement as the “Excess Amounts”)
in light of the approval by stockholders at the Annual Meeting of proposal #2 to amend and restate the Plan. Based
on such review, the Committee approved (i) the
re-issuance of awards under the Plan equal in all respects to the Excess Amounts originally granted in 2021 to the individuals described
in the Proxy Statement, and
(ii) the retention of the Excess Amount of stock options granted in 2023 to Robert Rosen, each of which was contingent on an affirmative
vote of the stockholders on proposal #2. The awards which were re-issued or retained, as applicable, on
December 14, 2023 are set forth below:
Grantee | |
Type of Award | |
Excess Amount
Re-Issued | | |
Per
Share
Exercise
Price
(Options) | | |
Expiration
Date
(Options) |
Kenneth Kuick | |
Restricted Shares | |
| 50,000 | | |
| n/a | | |
n/a |
Kenneth Kuick | |
Stock Option | |
| 100,000 | | |
$ | 11.43 | | |
11/16/2031 |
Allen Sussman | |
Restricted Shares | |
| 50,000 | | |
| n/a | | |
n/a |
Allen Sussman | |
Stock Option | |
| 75,000 | | |
$ | 11.43 | | |
11/16/2031 |
Andrew Wiederhorn | |
Stock Option | |
| 50,000 | | |
$ | 11.43 | | |
11/16/2031 |
Mason Wiederhorn | |
Stock Option | |
| 25,000 | | |
$ | 11.43 | | |
11/16/2031 |
Taylor Wiederhorn | |
Stock Option | |
| 50,000 | | |
$ | 11.43 | | |
11/16/2031 |
Thayer Wiederhorn | |
Stock Option | |
| 50,000 | | |
$ | 11.43 | | |
11/16/2031 |
Robert Rosen | |
Restricted Shares | |
| 50,000 | | |
| n/a | | |
n/a |
Robert Rosen | |
Stock Option | |
| 100,000 | | |
$ | 11.43 | | |
11/16/2031 |
Robert Rosen | |
Stock Option | |
| 350,000 | | |
$ | 5.37 | | |
04/26/2033 |
Other non-executive officer employees | |
Stock Options | |
| 150,000 | | |
$ | 11.43 | | |
11/16/2031 |
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.
Date:
December 20, 2023
|
FAT
Brands Inc. |
|
|
|
|
By:
|
/s/
Kenneth J. Kuick |
|
|
Kenneth
J. Kuick |
|
|
Chief
Financial Officer |
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