Firy appoints Marc Lasry as independent director
Firy Inc. is adding Avenue Capital’s Marc Lasry as an independent director while longtime director Gary Vecchiarelli shifts to a Board Advisor role effective October 1, 2026.
Rhea-AI Filing Summary
Firy Inc. (FIRY) reported that director Gary Vecchiarelli will resign from its Board, Audit Committee, and Compensation Committee effective October 1, 2026, with the company stating his resignation is not due to any disagreement regarding operations, policies, or practices.
Upon recommendation of the Nominating and Corporate Governance Committee, the Board appointed Marc Lasry
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Filing Explained
The incoming director will hold an independent board seat without committee duties; compensation follows the existing director program, with no amount disclosed.
The appointment's disclosed structure is an independent board seat effective
For the company, the stated mechanics are board-level: Marc Lasry will receive compensation under the existing non-employee-director program and enter a standard indemnification agreement, with no dollar amount provided.
8-K Event Classification
2 items: 5.02, 9.01
2 items
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.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Key Figures
Effective date of board changes: October 1, 2026
Avenue Capital Group assets under management: $9.2 billion
Skillz Series B round size: $15 million
+3 more
6 metrics
Effective date of board changes
October 1, 2026
Date when Gary Vecchiarelli’s resignation and Marc Lasry’s Board appointment take effect
Avenue Capital Group assets under management
$9.2 billion
Approximate AUM of Marc Lasry’s investment firm as described by the company
Skillz Series B round size
$15 million
Series B financing in September 2015 in which Marc Lasry participated as an investor
Lasry credit investing experience
More than 42 years
Duration of Marc Lasry’s professional focus on credit investing
Milwaukee Bucks co‑ownership period
2014–2023
Period during which Marc Lasry was a co‑owner of the NBA’s Milwaukee Bucks
Filing date of latest Form 10‑K referenced
March 31, 2026
Filing date of the Form 10‑K for the year ended December 31, 2025 cited in forward‑looking statement section
Key Terms
independent director, assets under management, Series B, forward-looking statements, +1 more
5 terms
independent director regulatory
"the Board appointed Marc Lasry to fill the resulting Board vacancy, to be effective as of October 1, 2026. Mr. Lasry is an independent director"
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.
assets under management financial
"Avenue Capital Group, a global investment firm with approximately $9.2 billion in assets under management"
Assets under management (AUM) is the total value of all the investments that a financial company or fund is responsible for overseeing on behalf of its clients. It’s like a big bucket that shows how much money the firm is managing for people or organizations. A higher AUM often indicates a larger, more trusted company, and it can influence how much money they earn and the services they can offer.
Series B financial
"He participated as an investor in the $15 million Series B round raised by Skillz in September 2015"
A Series B is a later-stage private funding round where a growing company raises new capital from investors in exchange for ownership shares. It typically comes after early rounds and is meant to finance expansion—think of moving from a neighborhood shop to a regional chain—so it affects the company’s reported value and how much existing owners are diluted. Investors use a Series B as a signal that the business has proven demand and is preparing for bigger growth, which helps assess risk and potential return.
forward-looking statements regulatory
"This press release contains forward-looking statements within the meaning of Section 27A"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
indemnification agreement regulatory
"Mr. Lasry will enter into a standard indemnification agreement with the Company"
An indemnification agreement is a contract in which one party promises to cover losses, costs, or legal claims that another party might face, acting like a tailored safety net or private insurance policy. For investors, it matters because such agreements shift potential financial risk away from a company or its officers and onto the indemnifier, which can affect a company’s future liabilities, cash flow and how risky the investment appears during deal-making or litigation.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What board changes did FIRY Inc. (FIRY) announce on September 11–15, 2026?
Firy Inc. disclosed that director Gary Vecchiarelli will resign from the Board effective October 1, 2026, and the Board has appointed Marc Lasry as an independent director effective the same date, with Vecchiarelli transitioning to a Board Advisor role.
Why is FIRY director Gary Vecchiarelli resigning from the Board?
Firy Inc. stated that Gary Vecchiarelli notified the Board of his intent to resign effective October 1, 2026, and that his resignation is not due to any disagreement with the company on operations, policies, or practices.
Who is Marc Lasry, the new independent director at FIRY (FIRY)?
Marc Lasry is Co‑Founder, Chairman, and CEO of Avenue Capital Group, a global investment firm with approximately $9.2 billion in assets under management. He has focused on credit investing for more than 42 years and previously invested in the company’s $15 million Series B round in 2015.
Is Marc Lasry considered independent under NYSE rules for FIRY Inc.?
Yes. The Board of Firy Inc. determined that Marc Lasry is an independent director under applicable New York Stock Exchange rules, and noted there are no arrangements, family relationships, or related‑party transactions requiring disclosure under Item 404(a) of Regulation S‑K.
How will Marc Lasry be compensated as a director of FIRY Inc. (FIRY)?
Firy Inc. stated that Marc Lasry will receive compensation consistent with its standard compensation program for non‑employee directors, as previously described in the company’s proxy statement filed on April 30, 2026, and he will enter into a standard indemnification agreement.
What prior relationship does Marc Lasry have with FIRY Inc. (formerly Skillz Inc.)?
Marc Lasry backed the company, then known as Skillz, as an investor in its $15 million Series B round in September 2015 and has followed its development since. The company noted his long involvement predates its public listing and current name and scope of operations.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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): September 11, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) | ||||||||||||
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (415 ) 762-0511
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:
| 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 | ||||||||||||
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.
Departure of Gary Vecchiarelli and Appointment of Marc Lasry to Board of Directors
On September 11, 2026, Gary Vecchiarelli notified the Board of Directors (the “Board”) of Firy Inc. (the “Company”) of his intent to resign from the Board, including as a director, member of the Audit Committee of the Board and member of the Compensation Committee of the Board, effective as of October 1, 2026. Mr. Vecchiarelli’s resignation is not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Upon the recommendation of the Nominating and Corporate Governance Committee of the Board, on September 12, 2026, the Board appointed Marc Lasry to fill the resulting Board vacancy, to be effective as of October 1, 2026. Mr. Lasry has not been appointed to any committee of the Board.
Mr. Lasry is the Chairman, Chief Executive Officer and Co-Founder of Avenue Capital Group, a global investment firm he co-founded in 1995. Credit investing has been the focus of Mr. Lasry’s professional career for more than 42 years. Before co-founding Avenue Capital Group, Mr. Lasry managed capital for Amroc Investments, L.P., served as Co-Director of the Bankruptcy and Corporate Reorganization Department at Cowen & Company and served as Director of the Private Debt Department at Smith Vasiliou Management Company. Mr. Lasry also practiced bankruptcy law at Angel & Frankel and clerked for the Honorable Edward Ryan, former Chief Bankruptcy Judge for the Southern District of New York. Mr. Lasry holds a B.A. in History from Clark University and a J.D. from New York Law School.
The Board affirmatively determined that Mr. Lasry is an independent director under the applicable rules of the New York Stock Exchange. There is no arrangement or understanding between Mr. Lasry and any other person pursuant to which Mr. Lasry was appointed as a director. Furthermore, there are no family relationships between Mr. Lasry and any other director or executive officer of the Company and there are no transactions between Mr. Lasry and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
Mr. Lasry will receive compensation consistent with the Company’s compensation program for non-employee directors, as described in the Company’s proxy statement filed with the U.S. Securities and Exchange Commission on April 30, 2026.
In connection with his appointment, Mr. Lasry will enter into a standard indemnification agreement with the Company in the form previously approved by the Board.
On September 15, 2026, the Company issued a press release announcing the appointment of Mr. Lasry to the Company’s Board, effective October 1, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
| (d) | Exhibits. | ||||||||||||||||
| Exhibit Number | Description | |||||||||||||||||||||||||
| 99.1 | Press Release, dated September 15, 2026 | |||||||||||||||||||||||||
| 104 | Cover Page Interactive Data File (embedded within the 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.
| FIRY INC. | ||||||||
| By: | /s/ Todd A. Valli | |||||||
| Name: | Todd A. Valli | |||||||
| Title: | Chief Accounting Officer | |||||||
Date: September 15, 2026 | ||||||||
Exhibit 99.1 FIRY Inc. Names Avenue Capital Chairman and CEO Marc Lasry to Board of Directors Lasry brings to the FIRY Board three decades of capital markets experience and understanding of the company he also backed as a startup LAS VEGAS, Sept. 15, 2026 – FIRY Inc. (NYSE: FIRY), the global holding company built to fuel business potential and formerly known as Skillz Inc., today announced the appointment of Marc Lasry to its Board of Directors as an independent director, effective Oct. 1, 2026. “Marc first backed Skillz in 2015, and he has since stayed close to the Company’s development,” said Andrew Paradise, CEO and Founder of FIRY. “He has proven himself to be adept at identifying and cultivating value as an investor across three decades of market and economic cycles. As we execute our strategy and build FIRY to drive value for shareholders, Marc will be a strong, experienced contributor to our Board of Directors.” Lasry is the Co-Founder, Chairman, and Chief Executive Officer of Avenue Capital Group, a global investment firm with approximately $9.2 billion in assets under management focused primarily on specialty lending, opportunistic credit, and other special situations investments. He co-founded Avenue in 1995 and has spent more than three decades investing across the public and private debt of companies in a range of industries. Lasry was a co-owner of the NBA's Milwaukee Bucks from 2014 to 2023, and, in 2023, he launched the Avenue Sports Fund. He holds a B.A. in history from Clark University and a J.D. from New York Law School. Lasry's relationship with the Company predates both its public listing and its current name and scope of operations. He participated as an investor in the $15 million Series B round raised by Skillz in September 2015, alongside Wildcat Capital Management and The Kraft Group. “Having backed this company as a startup, I have watched it fight through a cycle that would have broken many businesses,” said Lasry. “Importantly, I believe that the FIRY team led by Andrew has reset the Company’s cost structure, strengthened the balance sheet, and built a fast-growing AI ad-tech business alongside the competition platform they invented. I believe that the Company is well positioned to deliver on its mission of building systems that unlock new opportunities for developers, businesses, and consumers worldwide. I am honored to join the Board at this time.” Separately, the Company announced that Gary A. Vecchiarelli will transition from the Board of Directors to the role of Board Advisor, effective Oct. 1, 2026. About FIRY Inc. FIRY Inc., formerly Skillz Inc., is a global holding company built to fuel business potential. Through its growing portfolio, including Skillz, RZR, and Beamable, the Company operates at the intersection of content, identity, commerce, and performance marketing. By leveraging first-party data, enterprise-scale infrastructure, and scalable operating systems, the Company enables
Exhibit 99.1 scalable growth while maintaining a disciplined focus on capital efficiency and long-term value creation. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding Mr. Lasry's role on the board and the Company's strategy. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on March 31, 2026, and in our subsequent filings with the SEC. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. The Company undertakes no obligation to republish revised forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. Contacts Media Contact: Seth Medvin, Head of Communications comms@firy.com Investor Contact: Richard Land/Devon Chase Alliance Advisors Investor Relations FIRY_IR@allianceadvisors.com