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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): January 1, 2024
SACKS
PARENTE GOLF, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-41701 | 82-4938288 | ||
| (State or other jurisdiction of incorporation) | (Commission
File Number) |
(IRS
Employer Identification No.) |
551
Calle San Pablo
Camarillo, CA 93012
(Address of principal executive offices, including ZIP code)
855-774-7888
(Registrant’s telephone number, including area code)
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 Instruction A.2. below):
| ☐ | Written communications pursuant to Rule 425 under the Securities Act of 1933 (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(e) 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 | ||
| Common stock, par value $0.01 per share | SPGC | The Nasdaq Stock Market, LLC |
| Item 5.02 | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Effective January 1,2024, the Company’s Board of Directors (the “Board”) appointed Jane Casanta to the Board to fill the vacancy resulting from the resignation of Timothy Triplett and to serve the unexpired term of Mr. Triplett. Ms. Casanta was not appointed to any committee of the Board.With respect to fiscal year 2024, Ms. Casanta was granted cash compensation of $20,000 and an option (the “option”) to purchase 40,000 shares of the Company’s Common Stock at an exercise price of $0.69 per share which was the closing price on the Nasdaq Stock Market on December 29,2023, the most recent trading day. The Option is for a term of seven years and vests quarterly over 12 quarters.
| Item 8.01 | Other Events |
On January 4, 2024, the Company issued a press release announcing the appointment of .Jane Casanta to the Company’s Board of Directors. A copy of the press release is filed as Exhibit 99.1 to this Current Report and is incorporated by reference.
| Item 9.01 | Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit No. | Description | |
|
99.1 |
Press Release regarding the appointment of Jane Casanta to to the Company’s Board of Directors | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| - |
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.
| Date: January 4, 2024 | SACKS PARENTE GOLF, INC. | |
| By: | /s/ Steve Handy | |
|
Steve Handy Chief Financial Officer |
||
| - |
Exhibit 99.1
Sacks Parente Golf Appoints Golf Industry Veteran Jane Casanta as Newest Board Member
CAMARILLO, CA, (January 4, 2024) – Sacks Parente Golf, Inc. (Nasdaq: SPGC) (“SPG” or the “Company”), a technology-forward golf company with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories, has announced the appointment of Jane Casanta to its Board of Directors.
Casanta brings to Sacks Parente Golf a rich background in the golf industry having served in various marketing and product development roles at the Acushnet Company for 26 years, including as Director of Marketing for Titleist Gloves and Accessories worldwide. Her accomplishments during this time include doubling international sales, increasing domestic gear sales by 100%, and achieving a 15-point increase in Titleist golf bag industry share.
“We are delighted to add Jane to our board,” said Greg Campbell, Executive Chairman, Sacks Parente Golf. “She brings decades of golf industry experience and real deep knowledge of brand management and marketing.”
Currently serving as the Vice President of Partnership Development of Event Network, LLC, Casanta has showcased her expertise in client relations and relationship development over her three-year tenure. She also held the position of Vice President of Purchasing, demonstrating her ability to collaborate with cross-functional teams and develop unique product assortments.
Sacks Parente Golf looks forward to leveraging Jane’s strategic insights and industry acumen to further propel SPG’s ongoing growth.
About Sacks Parente Golf
Sacks Parente Golf, Inc. is a technology-forward golf company, with a growing portfolio of golf products, including putters, golf shafts, golf grips, and other golf-related accessories. The Company’s innovative accomplishments include: the First Vernier Acuity putter, patented Ultra-Low Balance Point (U.L.B.P.) putter technology, weight-forward Center-of-Gravity (CG) design, and pioneering ultra-light carbon fiber putter shafts. In consideration of its growth opportunities in shaft technologies, in April of 2022, the Company expanded its manufacturing business to include advanced premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States, while also expanding into golf apparel and other golf-related product lines to enhance its growth. The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand. The Company currently sells its products through resellers, the Company’s websites, and distributors in the United States, Japan, and South Korea. For more information, please visit the Company’s website at https://sacksparente.com/.
Media Contact for SPG:
Beth Gast
BG Public Relations
beth.gast@bgpublicrelations.com
Investor Contact:
CORE IR
516-222-2560
investors@sacksparente.com