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): January 21, 2019
GENERAL CANNABIS CORP
(Exact Name of Registrant as Specified in Charter)
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Colorado | 000-54457 | 20-8096131 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
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6565 E. Evans Avenue
Denver, Colorado | | 80224 |
(Address of principal executive offices) | | (Zip Code) |
Registrant’s telephone number, including area code: (303) 759-1300
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:
[_]
Written communications pursuant to Rule 425 under the Securities Act
[_]
Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[_]
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
[_]
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act
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.¨
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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. |
In connection with the previously disclosed appointment of Michael Feinsod as Interim Chief Executive Officer of General Cannabis Corp (the “Company”), Mr. Feinsod entered into a new employment agreement with the Company on January 21, 2019. The new employment agreement provides for an annual base salary of $210,000, and Mr. Feinsod is eligible for an annual discretionary bonus based on his achievement of pre-established performance goals and other criteria established by the board of directors. The employment agreement further provides that in the event of the termination of Mr. Feinsod’s role as Interim Chief Executive Officer, Mr. Feinsod’s prior agreement with the Company regarding his position as Executive Chairman of the Board, which agreement was previously filed by the Company with the SEC on a Form 8-K on December 14, 2017, shall be reinstated in full. The foregoing description of Mr. Feinsod’s new employment agreement is not complete and is qualified in its entirety by reference to the full text of the agreement, a copy of which is attached hereto as Exhibit 10.1 and is incorporated herein by reference.
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Item 9.01 | | Financial Statements and Exhibits. |
(d) Exhibits
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.
Dated: January 24, 2019
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| GENERAL CANNABIS CORP |
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| By: | /s/ Brian Andrews |
| Name: | Brian Andrews |
| Title: | Chief Financial Officer |
