Leadership shakeup at Lucky Strike (LUCK) as CEO also becomes President

Rhea-AI Filing Summary

Lucky Strike Entertainment Corporation reported that President Lev Ekster resigned from his role. The board appointed Chairman and Chief Executive Officer Thomas Shannon to also serve as President, consolidating the top leadership positions under one executive.

Ekster will remain with the company through a transition period until March 4, 2026. Under a Resignation, Severance, and Release Agreement, he will receive a $275,000 severance payment, and unvested equity awards that would have vested by December 31, 2026 will remain outstanding until then, while his other unvested equity awards will be cancelled.

Insights

Corporate governance analyst

Lucky Strike consolidates top roles as its President resigns.

Lucky Strike Entertainment Corporation disclosed the resignation of its President, Lev Ekster, and the assumption of the President title by existing Chairman and CEO Thomas Shannon. This move centralizes strategic and operational authority in a single leader.

Ekster’s employment continues through March 4, 2026 under a transition period, which may help preserve continuity during the handover. A severance of $275,000 and continued vesting for certain equity awards through December 31, 2026 indicate a negotiated, orderly separation rather than an abrupt departure.

The combination of Chairman, CEO, and President roles can streamline decision-making but also reduces separation of powers at the top. Future company communications and filings may clarify how responsibilities are allocated under this new structure and whether additional leadership adjustments follow.

FALSE000184057200018405722026-02-182026-02-18

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): February 19, 2026 (February 18, 2026)

___________________________________

LUCKY STRIKE ENTERTAINMENT CORPORATION

(Exact name of registrant as specified in its charter)

___________________________________

Delaware			001-40142			98-1632024
(State or other jurisdiction of incorporation or organization)			(Commission File Number)			(I.R.S. Employer Identification Number)
7313 Bell Creek Road Mechanicsville, Virginia 23111
(Address of principal executive offices and zip code)
(804) 417-2000
(Registrant's telephone number, including area code)

___________________________________

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

Name of each exchange on which registered

Class A common stock, par value $0.0001

LUCK

The New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 12b-2 of the Exchange Act.

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 February 18, 2026, Lev Ekster notified Lucky Strike Entertainment Corporation (the “Company”) of his resignation from his position as President of the Company. The Company appointed Thomas Shannon, its Chairman and Chief Executive Officer, to replace Mr. Ekster as the President of the Company. Mr. Shannon will serve as Chairman, Chief Executive Officer and President of the Company.

In connection with Mr. Ekster’s resignation, Mr. Ekster and the Company entered into a Resignation, Severance, and Release Agreement pursuant to which Mr. Ekster’s employment with the Company will continue during a transition period and terminate on March 4, 2026. In addition, Mr. Ekster will receive a severance payment of $275,000 and his unvested equity awards whose vesting date or service condition would have been satisfied on or prior to December 31, 2026 will remain outstanding until such date. All of Mr. Ekster’s other unvested equity awards will be cancelled pursuant to their terms.

SIGNATURE

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

			LUCKY STRIKE ENTERTAINMENT CORPORATION
Date: February 19, 2026			By:			/s/ Robert M. Lavan
			Name:			Robert M. Lavan
			Title:			Chief Financial Officer

FAQ

What executive change did Lucky Strike Entertainment (LUCK) announce?

Lucky Strike Entertainment announced that President Lev Ekster resigned and Chairman and CEO Thomas Shannon has been appointed President. This consolidation places all three top roles with Shannon while Ekster assists during a short transition period before his employment ends.

When does Lev Ekster’s employment with Lucky Strike (LUCK) end?

Lev Ekster’s employment ends on March 4, 2026, after a transition period. Until then, he continues working for Lucky Strike under a Resignation, Severance, and Release Agreement designed to provide an orderly handover of his responsibilities to Thomas Shannon.

Who is the new President of Lucky Strike Entertainment (LUCK)?

Thomas Shannon, already Chairman and Chief Executive Officer, has been appointed President of Lucky Strike. He now holds all three roles, which centralizes leadership and decision-making authority at the top of the company’s corporate structure following Lev Ekster’s resignation.

What severance will Lev Ekster receive from Lucky Strike (LUCK)?

Lev Ekster will receive a severance payment of $275,000 under his Resignation, Severance, and Release Agreement. This payment accompanies a brief transition period and specific treatment of his unvested equity awards as his employment ends on March 4, 2026.

What happens to Lev Ekster’s unvested equity awards at Lucky Strike (LUCK)?

Unvested equity awards that would have vested on or before December 31, 2026 will remain outstanding until that date. All of Lev Ekster’s other unvested equity awards will be cancelled according to their existing terms under the separation agreement with Lucky Strike.

Does Lucky Strike (LUCK) remain an emerging growth company?

Yes, Lucky Strike identifies as an emerging growth company in this disclosure. That status can provide scaled public company reporting obligations under U.S. securities laws, which may affect its financial reporting and compliance requirements for a defined period.

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA DOCUMENT 1.8 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE DOCUMENT 22.9 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE DOCUMENT 13.3 KB