[8-K] Chewy, Inc. Reports Material Event

Rhea-AI Filing Summary

Taoping Inc. (TAOP) filed a Form 6-K announcing that on 8 July 2025 its board granted a total of 266,666 ordinary shares as restricted-stock compensation under the 2024 Equity Incentive Plan (registered on Form S-8 No. 333-283697). The awards vested immediately, meaning the entire cost will be recognized in the current period and the shares are now free-trading, modestly increasing the company’s outstanding share count.

Key allocations: CEO & Chairman Jianghuai Lin received 133,332 shares; President Zhiqiang Zhao, COO Zhixiong Huang and CFO Iris Yan each received 36,000; other executives and non-executive directors received between 1,012 and 13,630 shares. No financial performance metrics, cash impact, or other corporate developments were disclosed in this filing.

Insights

Financial Analyst

TL;DR: Minor dilution from 266k share grant; no earnings data, overall neutral impact.

The grant represents a small percentage of Taoping’s likely outstanding shares, so economic dilution should be modest. Because all shares vest immediately, GAAP compensation expense will hit the current quarter, slightly depressing near-term earnings. Absent revenue, profit or cash-flow data, the filing has limited valuation impact and is best viewed as routine equity compensation disclosure.

Corporate Governance Expert

TL;DR: Immediate vesting weakens performance alignment; governance impact modest.

While equity awards are common, best practices favour multi-year vesting to align management with shareholder value creation. Immediate vesting eliminates retention hooks and performance linkage. However, the absolute share count is small and the plan was previously shareholder-approved, so governance risk is contained.

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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): July 3, 2025

CHEWY, INC.

(Exact Name of Registrant as Specified in Its Charter)

Delaware		001-38936		90-1020167
(State or Other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

7700 West Sunrise Boulevard, Plantation, Florida		33322
(Address of Principal Executive Offices)		(Zip Code)

(786) 320-7111

(Registrant’s Telephone Number, Including Area Code)

N/A

(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:

☐ 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, par value $0.01 per share		CHWY		New York Stock Exchange

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.

Appointment of Interim Principal Financial Officer

As previously reported, David Reeder notified Chewy, Inc. (the “Company”) that he would be resigning from his position as the Company’s Chief Financial Officer and principal financial officer, effective as of a date to be determined, to return to the semiconductor industry as a Chief Executive Officer. Mr. Reeder notified the Company that his resignation will be effective as of July 3, 2025. On July 3, 2025, the Board of Directors of the Company approved the appointment of William Billings as the Company’s principal financial officer on an interim basis, effective as of the same date. Mr. Billings will also continue to serve as the Company’s Chief Accounting Officer and principal accounting officer.

Mr. Billings, age 49, serves as the Company’s Chief Accounting Officer and principal accounting officer, a position he has held since August 2024. Previously, Mr. Billings served as the Vice President of Finance and Chief Accounting Officer of GlobalFoundries, Inc., a semiconductor manufacturer, from November 2021 until July 2024, where he was responsible for overseeing global finance and accounting operations. Prior to that, Mr. Billings was Vice President of Accounting and Chief Accounting Officer at Coursera, Inc., an online course provider, from August 2021 to November 2021. Mr. Billings previously served as the Global Corporate Controller of Airbnb, Inc., an online marketplace for lodging and tourism activities, from July 2019 to August 2021 and the Vice President of Finance and Global Controller at World Fuel Services Corporation, an energy, commodities and services company, from November 2015 to July 2019. Mr. Billings also served in controllership roles for both General Electric Company from November 2013 to October 2015 and McDermott International Ltd. from June 2010 to November 2013. Mr. Billings has served as a director of Knightscope, Inc. since February 2024, and of Sucro Sourcing LLC since May 2024. Mr. Billings is a certified public accountant and holds a Bachelor of Science degree in accounting from Southern University A&M and a Master of Business Administration degree from Rice University.

Mr. Billings’ appointment as interim principal financial officer was not pursuant to any arrangement or understanding between him and any other person. There are no familial relationships or related party transactions with the Company that would require disclosure under Items 401(d) or 404(a) of Regulation S-K in connection with his appointment.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

						CHEWY, INC.
Date: July 9, 2025				By:		/s/ Da-Wai Hu
						Da-Wai Hu
						General Counsel and Secretary