Digital Brands Group appoints independent director
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Form Type
8-K
Rhea-AI Filing Summary
Digital Brands Group, Inc. appointed David Sosnowski as an independent director effective July 14, 2026, under a Board of Directors Agreement with an initial one-year term and successive one-year renewals, continuing until the next annual shareholders meeting or earlier resignation, removal, or death.
Under the agreement, Sosnowski receives an annual $100,000 cash retainer, payable in quarterly installments beginning July 31, 2026, and non-qualified stock options to purchase up to 20,000 shares of common stock at an exercise price of $5.00 per share. The options vest 25% per quarter starting on the grant date and expire five years after issuance.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Annual cash retainer: $100,000 per year
Stock options granted: 20,000 shares
Exercise price: $5.00 per share
+5 more
8 metrics
Annual cash retainer
$100,000 per year
Director compensation under Board of Directors Agreement
Stock options granted
20,000 shares
Non-qualified stock options under 2020 Stock Incentive Plan
Exercise price
$5.00 per share
Exercise price for director stock option grant
Option vesting rate
25% per quarter
Vesting schedule starting on the grant date
Option term
5 years
Expiration period from the date of issuance
Initial board term
1 year
Initial term of director appointment from Effective Date
Effective Date
July 14, 2026
Effective date of appointment to Board of Directors
Retainer payment start
July 31, 2026
Start date for quarterly installments of annual cash retainer
Key Terms
independent director, non-qualified stock options, 2020 Stock Incentive Plan, annual cash retainer
4 terms
independent director regulatory
"appointed David Sosnowski to serve as an independent director on its Board of Directors"
An independent director is a member of a company's board of directors who is not involved in the company's day-to-day operations and has no significant relationships with the company that could influence their judgment. Their role is to provide unbiased oversight and ensure the company is managed in the best interests of all shareholders. This helps build trust and confidence among investors by promoting transparency and accountability.
non-qualified stock options financial
"was also granted non-qualified stock options (“Options”) under the Company’s 2020 Stock Incentive Plan"
Non-qualified stock options are a type of employee benefit that gives individuals the right to buy company shares at a set price, usually lower than the market value, within a certain period. Unlike other options that may have special tax advantages, these options are taxed as income when exercised, which can affect how much money the employee or investor ultimately gains. They are important because they can influence company compensation strategies and impact the financial outcomes for employees and investors.
2020 Stock Incentive Plan financial
"Options under the Company’s 2020 Stock Incentive Plan to purchase up to 20,000 shares"
annual cash retainer financial
"will receive an annual cash retainer of $100,000, payable in quarterly installments"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What board change did Digital Brands Group (DBGI) make on July 14, 2026?
Digital Brands Group appointed David Sosnowski as an independent director effective July 14, 2026. His initial term is one year, with automatic one-year renewals, and continues until the next annual shareholders meeting or earlier resignation, removal, or death.
How is new director David Sosnowski compensated at Digital Brands Group (DBGI)?
David Sosnowski receives an annual $100,000 cash retainer, paid in quarterly installments starting July 31, 2026. He also receives non-qualified stock options to purchase up to 20,000 shares of common stock as additional equity-based compensation.
What are the key terms of David Sosnowski’s stock options at DBGI?
Sosnowski was granted options for up to 20,000 shares of common stock at an exercise price of $5.00 per share. These options vest 25% per quarter beginning on the grant date and expire five years from issuance.
Under which plan were David Sosnowski’s options at Digital Brands Group (DBGI) granted?
The options granted to David Sosnowski were issued under Digital Brands Group’s 2020 Stock Incentive Plan. They are structured as non-qualified stock options, following the terms and conditions of an award agreement with the company.
What is the length of David Sosnowski’s initial board term at Digital Brands Group (DBGI)?
His initial appointment is for one year from the effective date of July 14, 2026. The term is subject to successive one-year renewals and continues until the company’s next annual shareholders meeting or his earlier resignation, removal, or death.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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