Why did Edward McGee leave his role at Grayscale Horizen Trust’s sponsor?

Edward McGee stepped down as Chief Financial Officer, Principal Financial and Accounting Officer, and Board of Managers member effective July 2, 2026, for personal reasons. The company states his departure is not due to any disagreement regarding operations, policies, or practices, and he leaves on good terms.

New interim Co-CFOs take over at Grayscale Horizen Trust sponsor (HZEN)

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

8-K

Rhea-AI Filing Summary

Grayscale Horizen Trust (ZEN) reported leadership changes at its sponsor. Effective July 2, 2026, Kathryn Masci and Daniel Plourde were appointed interim Co-Chief Financial Officers of Grayscale Investments Sponsors, LLC, which sponsors the trust. Masci also joined the sponsor’s Board of Managers and became Principal Financial and Accounting Officer of the trust.

They succeed Edward McGee, who stepped down for personal reasons after about seven years with Grayscale. The company states his departure is not due to any disagreement over operations, policies, or practices, and notes that he leaves on good terms.

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

Effective date of leadership changes: July 2, 2026 McGee tenure: 7 years Plourde industry experience: Over 20 years

3 metrics

Effective date of leadership changes July 2, 2026 Date Masci and Plourde became interim Co-CFOs and Masci became Principal Financial and Accounting Officer

McGee tenure 7 years Length of Edward McGee’s service at Grayscale before stepping down

Plourde industry experience Over 20 years Financial services experience including treasury, fund administration, and planning

Key Terms

Principal Financial and Accounting Officer, Board of Managers, Emerging growth company, Certified Public Accountant

4 terms

Principal Financial and Accounting Officer financial

"Ms. Masci will also serve as Principal Financial and Accounting Officer of the registrant effective July 2, 2026."

Board of Managers financial

"the appointment of Ms. Masci as a member of the Board of Managers of Grayscale Investments Sponsors, LLC."

Emerging growth company regulatory

"Emerging growth company Item 5.02. Departure of Directors or Certain Officers;"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

Certified Public Accountant financial

"Ms. Masci is a Certified Public Accountant licensed in the state of New York."

A certified public accountant (CPA) is a licensed accounting professional who has passed rigorous exams and met education and experience requirements to prepare, review, and officially certify financial statements and tax filings. For investors, a CPA's involvement is like a neutral referee confirming that a company's reported numbers are accurate and follow accounting rules, which improves trust in financial reports and lowers the risk of unexpected errors or misleading information.

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Understanding 8-K Material Events →

Available on EDGAR 07/02/2026 - 04:37 PM Accepted by SEC EDGAR 07/02/2026 - 04:35 PM

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): June 26, 2026

    

Grayscale Horizen Trust (ZEN)

(Exact name of Registrant as Specified in Its Charter)


Delaware	000-56435	83-6217411
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

c/o Grayscale Investments Sponsors, LLC 290 Harbor Drive, 4th Floor
Stamford, Connecticut		06902
(Address of Principal Executive Offices)		(Zip Code)

     Registrant’s Telephone Number, Including Area Code: 212 668-1427

    

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(g) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Grayscale Horizen Trust (ZEN) Shares	HZEN	N/A

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 July 2, 2026, Grayscale Investments Sponsors, LLC (together with its affiliates as the context may require, “Grayscale”, or “the Company”), the sponsor of the registrant, announced that Grayscale Operating, LLC, the sole member of Grayscale Investments Sponsors, LLC, has approved the appointment of Kathryn Masci, Senior Vice President, Finance, and Daniel Plourde, Senior Vice President, Finance, to serve as Co-Chief Financial Officers of Grayscale Investments Sponsors, LLC on an interim basis, effective July 2, 2026 and the appointment of Ms. Masci as a member of the Board of Managers of Grayscale Investments Sponsors, LLC. Ms. Masci will also serve as Principal Financial and Accounting Officer of the registrant effective July 2, 2026. Ms. Masci and Mr. Plourde will succeed Edward McGee, the current Chief Financial Officer, Principal Financial and Accounting Officer and member of the Board of Managers of Grayscale Investments Sponsors, LLC, as applicable, who has decided to step down from his position effective July 2, 2026. Mr. McGee is stepping down for personal reasons and not due to any disagreement with the Company or any matter relating to Grayscale’s operations, policies or practices. He leaves the Company on good terms and Grayscale thanks him for his 7 years of service.

Kathryn Masci has served as Senior Vice President of Finance of Grayscale since January 2026 and has been with Grayscale since May 2020. Prior to serving as Senior Vice President of Finance, Ms. Masci held various finance and accounting roles at Grayscale. Prior to joining Grayscale, Ms. Masci served as Assistant Controller at Garrison Capital Inc., a publicly traded business development company, from July 2019 to May 2020. Before joining Garrison Capital, Ms. Masci served as a Senior Financial Reporting Associate at Pzena Investment Management, Inc., a publicly traded investment management firm, where she oversaw financial reporting and accounting policy from October 2016 to July 2019. From July 2014 to October 2016, Ms. Masci worked at Ernst & Young LLP in the Banking & Capital Markets and Professional Practice groups, providing audit and advisory services to financial services clients and supporting the consultation and accounting policy process for financial services audit teams. Ms. Masci earned her Bachelor of Science and Master of Science degrees in Accounting from the School of Management at Binghamton University, State University of New York. Ms. Masci is a Certified Public Accountant licensed in the state of New York.

Daniel Plourde has served as Senior Vice President of Finance of Grayscale since January 2026, after joining the firm as Vice President in September 2022, and has served as Assistant Treasurer of the Grayscale Funds Trust since 2025. Mr. Plourde has over 20 years of financial services experience, including senior roles in treasury, fund administration, and financial planning. Prior to joining Grayscale, Mr. Plourde served as Vice President at Gabelli Asset Management and Vice President of the Gabelli Funds Trusts. Previously, Mr. Plourde served as Vice President at State Street Global Advisors and Assistant Treasurer of the SPDR ETF Trusts. Mr. Plourde earned his Master of Business Administration with a concentration in Accounting from the University of Massachusetts Boston.

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 thereunto duly authorized.


			Grayscale Investments Sponsors, LLC, as Sponsor of Grayscale Horizen Trust (ZEN)

Date:	July 2, 2026	By:	/s/ Kathryn Masci
			Name: Kathryn Masci Title: Co-Chief Financial Officer (Principal Financial and Accounting Officer)*

* The Registrant is a trust and the identified person signing this report is signing in their capacity as an authorized officer of Grayscale Investments Sponsors, LLC, the Sponsor of the Registrant.

Source: View Original Filing on SEC EDGAR

FAQ

What leadership change did Grayscale Horizen Trust (HZEN) disclose?

Grayscale Horizen Trust disclosed that Kathryn Masci and Daniel Plourde were appointed interim Co-Chief Financial Officers of Grayscale Investments Sponsors, LLC, effective July 2, 2026. Masci also became Principal Financial and Accounting Officer of the trust and joined the sponsor’s Board of Managers.

Who is the new Principal Financial and Accounting Officer for HZEN?

Effective July 2, 2026, Kathryn Masci serves as Principal Financial and Accounting Officer of Grayscale Horizen Trust. She is also Co-Chief Financial Officer and a member of the Board of Managers of Grayscale Investments Sponsors, LLC, bringing extensive accounting and financial reporting experience.

What is Kathryn Masci’s background before becoming Co-CFO at Grayscale?

Before becoming interim Co-CFO, Kathryn Masci was Senior Vice President of Finance at Grayscale and has been with the firm since May 2020. She previously held finance roles at Garrison Capital, Pzena Investment Management, and Ernst & Young, and is a New York-licensed Certified Public Accountant.

What experience does Daniel Plourde bring to his interim Co-CFO role at Grayscale?

Daniel Plourde has over 20 years of financial services experience, including senior roles in treasury, fund administration, and financial planning. He joined Grayscale in September 2022, became Senior Vice President of Finance in January 2026, and serves as Assistant Treasurer of the Grayscale Funds Trust.

When do the Grayscale leadership changes affecting HZEN become effective?

The leadership changes are effective July 2, 2026. On that date, Kathryn Masci and Daniel Plourde became interim Co-Chief Financial Officers of Grayscale Investments Sponsors, LLC, with Masci also assuming the Principal Financial and Accounting Officer role for Grayscale Horizen Trust and joining the sponsor’s Board of Managers.

Filing Exhibits & Attachments

1 document