Form 8-K - Current report

0001606698FALSE00016066982024-08-162024-08-16

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) August 16, 2024

Alpine 4 Holdings, Inc.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN CHARTER)

 

Delaware

001-40913

46-5482689

(STATE OR OTHER JURISDICTION OF INCORPORATION OR ORGANIZATION)

(COMMISSION FILE NO.)

(IRS EMPLOYER IDENTIFICATION NO.)

2375 E. Camelback Rd, Suite 600

Phoenix, AZ 85016

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES)

480-702-2431

(ISSUER TELEPHONE NUMBER)

(FORMER NAME OR FORMER ADDRESS, IF CHANGED SINCE LAST REPORT)

2525 E. Arizona Biltmore Circle, Suite 237

Phoenix, AZ 85016

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 Instruction A.2. below):

☐ 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

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			ALPP			The Nasdaq Stock Market

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.

Item 8.01 Other Events

On August 1st, 2024, in the context of the previously announced costs savings measures, the Executive Leadership Team and Board of Directors of Alpine 4 Holdings, Inc., a Delaware corporation (the “Company”), voted to voluntarily reduce their base salaries. Additionally, both the CEO and COO previously had taken a 20% salary reduction in the fourth quarter of 2023. As a result of this new action and the prior reductions, base salaries of the Company’s principal executive officer and other named executive officers were reduced to the following amounts per annum:

Name and Principal Position			Base Salary			Adjusted Base Salary
Kent Wilson, Chief Executive Officer/Board of Directors			$ 487,500.00			$ 316,875.00
Jeff Hail, Chief Operations Officer			$ 428,922.00			$ 278,799.30
Ian Kantrowitz, VP of Investor Relations/Board of Directors			$ 176,953.00			$ 115,019.45

Other Executives of the Company, including the combined permanent and interim CFO position, voluntarily reduced their salaries by an average of 33%. In addition, the non-employee members of the Board of Directors also voluntarily reduced their Board fees by an average of 49%. These reductions, in addition to previously mentioned personnel reductions at the Alpine 4 Corporate level, will see aggregate savings in payroll general and administrative expenses of approximately $1.2M per annum.

These reductions took affect August 16, 2024. The Board and the Compensation Committee will continue to monitor the Company’s performance and the compensation of the Company’s executive officers and adjust accordingly.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Number						Description
104						Cover Page Interactive Data File (formatted as Inline XBRL)

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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.

Alpine 4 Holdings, Inc.

By: /s/ Kent B. Wilson

Kent B. Wilson

Chief Executive Officer, President

(Principal Executive Officer)

Date: August 20, 2024

Cover	Aug. 16, 2024
Cover [Abstract]
Document Type	8-K
Document Period End Date	Aug. 16, 2024
Entity Registrant Name	Alpine 4 Holdings, Inc.
Entity Incorporation, State or Country Code	DE
Entity File Number	001-40913
Entity Tax Identification Number	46-5482689
Entity Address, Address Line One	2375 E. Camelback Rd
Entity Address, Address Line Two	Suite 600
Entity Address, City or Town	Phoenix
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85016
City Area Code	480
Local Phone Number	702-2431
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Central Index Key	0001606698
Amendment Flag	false

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