Turning Point Brands names new CEO, narrows 2026 outlook

Turning Point Brands names Executive Chairman David E. Glazek as CEO and maintains its 2026 sales outlook while narrowing EBITDA guidance.

Rhea-AI Filing Summary

Turning Point Brands, Inc. (TPB) announced a CEO transition and reaffirmed its 2026 outlook. Graham Purdy has resigned as President, Chief Executive Officer, and director for personal reasons, effective September 30, 2026; the company states his resignation is not related to any disagreement with the company or its board. The board has appointed Executive Chairman David E. Glazek as Chief Executive Officer effective October 1, 2026. Glazek has been a director since 2012 and Executive Chairman since 2023, and has extensive experience across consumer, media, and finance sectors.

The company is reaffirming full-year 2026 Modern Oral gross sales guidance of $330 million to $350 million and net sales guidance of $260 million to $270 million. It is tightening full-year 2026 EBITDA guidance to a range of $70 million to $80 million from $70 million to $90 million, assuming no margin benefit from onshoring manufacturing until 2027 and prolonged, higher freight costs.

8-K Event Classification

3 items: 5.02, 7.01, 9.01

3 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 7.01 Regulation FD Disclosure Disclosure

Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, or exhibit attachments filed with this report.

Key Figures

CEO resignation effective date: September 30, 2026 New CEO effective date: October 1, 2026 Modern Oral gross sales guidance 2026: $330 million–$350 million +2 more

5 metrics

CEO resignation effective date September 30, 2026 Effective date of Graham Purdy’s resignation as President, CEO, and director

New CEO effective date October 1, 2026 Effective date of David E. Glazek’s appointment as Chief Executive Officer

Modern Oral gross sales guidance 2026 $330 million–$350 million Reaffirmed full-year 2026 Modern Oral gross sales guidance range

Net sales guidance 2026 $260 million–$270 million Reaffirmed full-year 2026 net sales guidance range

EBITDA guidance 2026 $70 million–$80 million Tightened full-year 2026 EBITDA guidance from $70 million–$90 million

Key Terms

Modern Oral, EBITDA, white pouch category, forward-looking statements

4 terms

Modern Oral financial

"full-year 2026 Modern Oral gross sales guidance range of $330 million"

EBITDA financial

"tightening its full-year EBITDA guidance range to $70 million to $80 million"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

white pouch category financial

"transformative opportunity to become a leading player in the rapidly growing white pouch category"

forward-looking statements regulatory

"This press release contains forward-looking statements within the meaning of the federal securities laws"

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.

Earnings Snapshot

Modern Oral gross sales guidance: $330 million–$350 million · Guidance included

full-year 2026

Modern Oral gross sales guidance $330 million–$350 million reaffirmed range

Net sales guidance $260 million–$270 million reaffirmed range

EBITDA guidance $70 million–$80 million tightened from $70 million–$90 million

Guidance

Turning Point Brands reaffirmed its 2026 Modern Oral gross sales and net sales guidance and tightened its 2026 EBITDA guidance range.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What executive leadership change did TPB announce in this Form 8-K?

Turning Point Brands announced that Graham Purdy is resigning as President, Chief Executive Officer, and director effective September 30, 2026, for personal reasons. The board appointed David E. Glazek, currently Executive Chairman, as Chief Executive Officer effective October 1, 2026.

Did TPB indicate any disagreement behind CEO Graham Purdy’s resignation?

No. Turning Point Brands states that Graham Purdy’s resignation as President, Chief Executive Officer, and director, effective September 30, 2026, was not related to any disagreement between him and the company or its board of directors.

What is TPB’s reaffirmed 2026 Modern Oral gross sales guidance?

Turning Point Brands reaffirmed its full-year 2026 Modern Oral gross sales guidance in a range of $330 million to $350 million. This guidance is part of the company’s 2026 outlook accompanying the announcement of the CEO transition.

What 2026 net sales guidance did TPB provide in this 8-K?

Turning Point Brands reaffirmed full-year 2026 net sales guidance of $260 million to $270 million. This outlook relates to the company’s overall business performance, alongside specific guidance for its Modern Oral segment and EBITDA.

How did TPB change its 2026 EBITDA guidance range?

Turning Point Brands tightened its full-year 2026 EBITDA guidance to a range of $70 million to $80 million, from a prior range of $70 million to $90 million, assuming no margin benefit from onshoring manufacturing until 2027 and prolonged, higher freight costs.

What background does new TPB CEO David E. Glazek bring to the role?

David E. Glazek has been a director since 2012 and Executive Chairman since 2023 at TPB. He also serves as Chairman of National CineMedia, Inc., is an Adjunct Professor at Columbia Business School, and previously worked at Lazard Frères & Co., Standard General LP, and The Blackstone Group.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/21/2026 - 04:07 PM Accepted by SEC EDGAR 09/21/2026 - 04:07 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 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 18, 2026

Turning Point Brands, Inc.

(Exact Name of Registrant as Specified in its Charter)

Commission File Number: 001-37763

Delaware		20-0709285
(State of Incorporation)		(IRS Employer Identification No.)

5201 Interchange Way, Louisville, KY 40229

(Address of principal executive offices) (zip code)

(502) 778-4421

(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(s)		Name of each exchange on which registered
common stock $0.01 par value per share		TPB		NYSE

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934.

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 September 21, 2026, Turning Point Brands, Inc. (the “Company”) issued a press release announcing that Graham Purdy has resigned as President and Chief Executive Officer and as a member of the board of directors of the Company (the “Board”) for personal reasons. Mr. Purdy’s resignation will be effective September 30, 2026. His resignation was not related to any disagreement between Mr. Purdy and the Company or the Board.

The Board has appointed David E. Glazek as Chief Executive Officer effective October 1, 2026. Mr. Glazek has served as Executive Chairman of the Company since 2023, and he has served as a director of the Company since 2012.

Mr. Glazek, age 48, also serves as the Chairman of National CineMedia, Inc. (NASDAQ: NCMI) and an Adjunct Professor at Columbia Business School. He previously worked at Lazard Frères & Co. and Standard General LP. He has also worked at the Blackstone Group. Throughout his career, Mr. Glazek has served on numerous public and private company boards of directors and has been deeply involved in the operations of companies in the CPG, Media, Gaming, Retail, and Finance sectors. Mr. Glazek has a BA in Economics and Political Science from The University of Michigan and a JD from Columbia Law School. There is no arrangement or understanding between Mr. Glazek and any other person pursuant to which Mr. Glazek was selected as an officer, and Mr. Glazek does not have a direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation S-K. There is no family relationship between Mr. Glazek and any director or executive officer of the Company.

Item 7.01                                           Regulation FD Disclosure.

A copy of the press release announcing the foregoing events is furnished herewith as Exhibit 99.1 and is incorporated in this Item 7.01 by reference.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits.

Exhibit No.	Description
99.1	Press Release, dated September 21, 2026.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, Turning Point Brands, Inc. has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	TURNING POINT BRANDS, INC.
Date: September 21, 2026	By:	/s/ Brittani N. Cushman
		Brittani N. Cushman Senior Vice President, General Counsel and Secretary

Exhibit 99.1

Turning Point Brands Announces Executive Leadership Changes
Executive Chairman David E. Glazek Appointed CEO

LOUISVILLE, KY – September 21, 2026 – Turning Point Brands, Inc. (“TPB” or “the Company”) (NYSE: TPB), a manufacturer, marketer and distributor of branded consumer products, today announced its Board of Directors has appointed David E. Glazek, currently Executive Chairman, as Chief Executive Officer, effective October 1, 2026. Mr. Glazek succeeds Graham Purdy, who is stepping down as Chief Executive Officer for personal reasons. The departure is not related to any disagreement with the company.

Mr. Glazek commented, “On behalf of the Board, I want to thank Graham for his more than two decades of service to TPB and for his leadership and many contributions during his tenure. Graham has played an important role in the evolution of the company, and we are grateful for his dedication to our employees, customers, and shareholders.”

Mr. Glazek added, “Graham is dealing with personal circumstances that require his immediate attention, and he felt it was in the best interest of our employees and shareholders to make the difficult decision to step down. We wish Graham and his family the best and thank him for his assistance with the transition of his day-to-day responsibilities.”

Mr. Glazek continued, “Turning Point Brands is a great story. It has powerful, iconic brands, an exceptional team, a strong balance sheet, and a transformative opportunity to become a leading player in the rapidly growing white pouch category. I have worked closely with the Board and leadership team for the past 12 years – first, in my capacity as a director, then as Chairman, and more recently as Executive Chairman. I have never been more excited about the long-term potential of the business. I look forward to continuing to work with our talented team to maximize long-term shareholder value.”

Mr. Purdy said, “My more than two decades with TPB, serving in roles of increasing responsibility and ultimately as CEO, have been immensely rewarding. I am incredibly proud of what we have accomplished throughout the years. I am extraordinarily grateful to the many colleagues, customers, and partners I have had the privilege of working with throughout my tenure.”

2026 Outlook

The Company is reaffirming its full-year 2026 Modern Oral gross sales guidance range of $330 million to $350 million and net sales guidance of $260 million to $270 million. The Company is tightening its full-year EBITDA guidance range to $70 million to $80 million from $70 million to $90 million, assuming no margin benefit from onshoring manufacturing until 2027 and prolonged, higher freight costs.

About Turning Point Brands, Inc.

Turning Point Brands, Inc. (NYSE: TPB) is a manufacturer, marketer and distributor of branded consumer products including alternative smoking accessories and consumables with active ingredients through its iconic brand portfolio, including Zig-Zag®, Stoker’s®, FRE®, and ALP®. TPB’s products are available in more than 220,000 retail outlets in North America and on sites such as www.zigzag.com, www.frepouch.com, and www.alppouch.com. For the latest news and information about TPB and its brands, please visit www.turningpointbrands.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements may generally be identified by the use of words such as "anticipate," "believe," "expect," "intend," "plan" and "will" or, in each case, their negative, or other variations or comparable terminology. These forward-looking statements include all matters that are not historical facts. By their nature, forward-looking statements involve risks and uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. As a result, these statements are not guarantees of future performance and actual events may differ materially from those expressed in or suggested by the forward-looking statements. Any forward-looking statement made by TPB in this press release, its reports filed with the Securities and Exchange Commission (the “SEC”) and other public statements made from time-to-time speak only as of the date made. New risks and uncertainties come up from time to time, and it is impossible for TPB to predict or identify all such events or how they may affect it. TPB has no obligation, and does not intend, to update any forward-looking statements after the date hereof, except as required by federal securities laws. Factors that could cause these differences include, but are not limited to, those included in the Company’s Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and other reports filed by the Company with the SEC. These statements constitute the Company’s cautionary statements under the Private Securities Litigation Reform Act of 1995.

Investor Contacts

Turning Point Brands, Inc.

ir@tpbi.com

2

Turning Point Brands, Inc. | www.turningpointbrands.com | ir@tpbi.com | 502.774.9238

Filing Exhibits & Attachments

5 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 10.4 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.2 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.0 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.3 KB