Krispy Kreme (NASDAQ: DNUT) appoints new Chief Accounting Officer as predecessor resigns

Rhea-AI Filing Summary

Krispy Kreme, Inc. announced a planned transition in its senior finance team. The company appointed Joseph J. Esposito as principal accounting officer and Chief Accounting Officer effective September 15, 2025, following his prior roles leading global tax at the company and earlier experience at PwC. His compensation package includes a $300,000 base salary, eligibility for an annual cash bonus targeted at 45% of base salary with a maximum of 200% of target, and participation in the 2026 long-term incentive plan at a $200,000 target level, generally split between RSUs and PSUs that vest over three-year periods. He will also receive a one-time equity grant of 40,000 stock options, 20,000 RSUs, and 20,000 PSUs with multi-year vesting tied in part to performance goals for 2026–2028. The current Chief Accounting Officer, Kelly McBride, has notified the company of his resignation effective September 12, 2025 to pursue another opportunity, which the company states is not due to any disagreement over operations, policies, practices, or financial reporting.

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.

Understanding 8-K Material Events →

0001857154false00018571542025-08-282025-08-28

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

August 28, 2025

Date of Report (Date of earliest event reported)

_________________________

Krispy Kreme, Inc.

(Exact name of registrant as specified in its charter)

_________________________

Delaware			001-40573			37-1701311
(State or other jurisdiction of incorporation)			(Commission File Number)			(IRS Employer Identification No.)

2116 Hawkins Street, Suite 101, Charlotte, North Carolina 28203

(Address of principal executive offices)

(800) 457-4779

(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 (see General Instruction A.2. below):

☐    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-14(c) under the Exchange Act (17 CFR 240.13e-14(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common stock, $0.01 par value per share

DNUT

NASDAQ Global Select 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. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On August 28, 2025, Krispy Kreme, Inc. (the “Company”) appointed Joseph J. Esposito as the Company’s principal accounting officer, effective September 15, 2025. Mr. Esposito, age 41, will serve as the Company’s Chief Accounting Officer. Prior to his appointment, he served as the Company’s Vice President, Global Tax since April 2023, and Senior Director, Global Tax from December 2020 to April 2023. Prior to joining the Company, Mr. Esposito served in various corporate tax consulting roles with PwC from September 2011 to December 2020, most recently as an International Tax Director. He is a Certified Public Accountant with certifications in the states of North Carolina and South Carolina. Mr. Esposito holds a Master of Accountancy degree and B.S. in Business Administration from the University of South Carolina.

In his new position, Mr. Esposito (i) will receive an annual base salary of $300,000, (ii) will be eligible to participate in the Company’s annual cash bonus program with a target bonus opportunity equal to forty-five percent (45%) of his base salary and a maximum bonus opportunity equal to 200% of his target bonus, and (iii) will be eligible to participate in the Company’s annual long-term incentive program (“LTI Plan”) at a target level of $200,000 for fiscal year 2026, subject to the terms of the LTI Plan and the applicable award agreement. Annual grants under the LTI Plan are generally delivered 50% in restricted stock units (“RSUs”) and 50% in performance stock units (“PSUs”). The RSUs will vest 100% on the third anniversary of the date of grant. The PSUs will vest at the end of a three-year performance period, subject to the achievement of applicable performance goals.

In addition, Mr. Esposito will receive a one-time LTI Plan award of 40,000 non-qualified stock options, 20,000 RSUs and 20,000 PSUs. The stock options will vest on the third anniversary of the date of grant and have a six-year term, the RSUs will vest 100% on the second anniversary of the date of grant, and the PSUs will vest based on goals established in early 2026 for the 2026 – 2028 performance period, subject to the achievement of applicable performance goals.

Mr. Esposito is not a party to any transaction with the Company that would be reportable under Item 404(a) of Regulation S-K. No family relationships exist between Mr. Esposito and any of the Company’s directors or executive officers. In connection with his appointment as Chief Accounting Officer, the Company expects to enter into its standard form of indemnification agreement with Mr. Esposito.

On August 28, 2025, the Company received notice from Kelly McBride, Chief Accounting Officer, of his decision to resign, effective September 12, 2025, from all positions with the Company and its subsidiaries to pursue another opportunity. Mr. McBride’s decision to resign is not the result of any disagreement with the Company or its Board of Directors, including on any matters relating to the Company’s operations, policies, practices, or financial reporting.

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.

KRISPY KREME, INC.

Dated: September 3, 2025

By:    /s/ Joshua Charlesworth

Name:			Joshua Charlesworth
Title:			Chief Executive Officer

FAQ

What executive change did Krispy Kreme (DNUT) disclose in this 8-K?

Krispy Kreme disclosed that Joseph J. Esposito has been appointed principal accounting officer and will serve as Chief Accounting Officer effective September 15, 2025, replacing Kelly McBride, who is resigning effective September 12, 2025.

What is the new Chief Accounting Officer’s compensation at Krispy Kreme (DNUT)?

In his new role, Mr. Esposito will receive a $300,000 annual base salary, be eligible for an annual cash bonus with a target of 45% of base salary and a maximum of 200% of target, and participate in the 2026 long-term incentive plan at a $200,000 target level.

What equity awards is Joseph Esposito receiving from Krispy Kreme (DNUT)?

Mr. Esposito will receive a one-time long-term incentive award of 40,000 non-qualified stock options, 20,000 restricted stock units (RSUs), and 20,000 performance stock units (PSUs), all subject to multi-year vesting and, for PSUs, performance goals for the 2026–2028 period.

Why is the current Chief Accounting Officer leaving Krispy Kreme (DNUT)?

Krispy Kreme stated that Kelly McBride, the current Chief Accounting Officer, decided to resign from all positions effective September 12, 2025 to pursue another opportunity, and that his decision is not due to any disagreement with the company or its Board on operations, policies, practices, or financial reporting.

Does Joseph Esposito have any related-party transactions with Krispy Kreme (DNUT)?

The company stated that Mr. Esposito is not a party to any transaction with Krispy Kreme that would be reportable under Item 404(a) of Regulation S-K and that there are no family relationships between him and any of the company’s directors or executive officers.

How will Joseph Esposito’s incentive awards vest at Krispy Kreme (DNUT)?

Annual RSUs generally vest 100% on the third anniversary of grant, while annual PSUs vest at the end of a three-year performance period based on performance goals. The one-time RSUs vest 100% on the second anniversary, the stock options vest on the third anniversary and have a six-year term, and the PSUs tied to 2026–2028 vest based on specified performance goals.