Form 4: cbdMD CEO Thomas Ronan Kennedy Reports Conversion of Preferred Stock and Common Stock Transactions

Thomas Ronan Kennedy, CEO and CFO of cbdMD, Inc., reports the automatic conversion of preferred stock into common stock and open market purchases of common stock.

Summary

• On May 6, 2025, Thomas Ronan Kennedy, CEO and CFO of cbdMD, Inc., reported transactions involving the company's stock.
• The 8% Series A Cumulative Convertible Preferred Stock automatically converted into common stock at a rate of thirteen shares of common stock for each share of preferred stock at 4:01 p.m. Eastern Time.
• This conversion was triggered automatically without any action required by Kennedy.
• The filing also reflects open market purchases of common stock.
• A one-for-eight reverse stock split of the company's common stock became effective on May 6, 2025, at 4:02 p.m. Eastern Time, affecting the price of the stock.
• Following these transactions, Kennedy directly owns 74,501 shares of common stock.

Sentiment

Score: 5

Explanation: The document is a routine regulatory filing detailing stock transactions by a company insider. It doesn't inherently convey positive or negative sentiment.

Industry Context

Form 4 filings are standard practice for company insiders to report transactions in their company's stock, providing transparency to the market.

Stakeholder Impact

• The conversion of preferred stock to common stock may dilute existing shareholders' equity.
• The reverse stock split will reduce the number of outstanding shares, potentially affecting the stock price and trading volume.

Key Dates

Keywords

cbdMD, Thomas Ronan Kennedy, YCBD, Form 4, Beneficial Ownership, Preferred Stock, Common Stock, Conversion, Reverse Stock Split, SEC Filing