[8-K] TEN Holdings, Inc. Reports Material Event

Rhea-AI Filing Summary

Arhaus, Inc. (NASDAQ: ARHS) filed an 8-K announcing a board change. On 27 June 2025 the Board appointed Samir Desai—currently EVP & Chief Digital and Technology Officer at Abercrombie & Fitch—as an independent Class III director. His initial term runs until the 2027 annual meeting, after which he is expected to stand for re-election. Desai will sit on the Board’s Technology Committee, bringing extensive omnichannel retail and IT leadership experience from Abercrombie & Fitch, Equinox Group and Intertex Apparel Group. To accommodate the appointment, the Board’s size rises from ten to eleven directors. Compensation will mirror that of Arhaus’s other non-employee directors and no related-party transactions were reported. Exhibit 104 (Inline XBRL cover page) accompanies the filing.

Positive

• Independent director with deep digital retail expertise appointed, supporting Arhaus’s omnichannel strategy.
• Board expanded to 11 members, enhancing governance breadth without diluting independence.
• No related-party transactions or conflicts disclosed, minimizing governance risk.

Negative

• None.

Insights

Corporate Governance Analyst

TL;DR: Routine but positive governance move; adds tech depth without conflicts.

The 8-K reflects sound governance practice. Adding an independent director with proven digital expertise aligns with shareholder interests as Arhaus continues omnichannel expansion. The increase to 11 directors keeps the board size manageable and maintains independence ratios. No compensation anomalies or related-party issues were disclosed, limiting risk. Financial impact is indirect and long-term, so materiality is modest.

Retail Technology Specialist

TL;DR: Desai’s digital retail track record could accelerate Arhaus’s tech roadmap.

Samir Desai led tech transformations at Abercrombie & Fitch and Equinox, focusing on e-commerce, data analytics and customer experience—areas critical for furniture retailers moving online. His presence on the Technology Committee signals Arhaus’s intent to deepen digital capabilities, potentially driving higher online conversion and omnichannel traffic over time. While strategic upside exists, immediate earnings impact is negligible.

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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

June 30, 2025

Date of Report (Date of earliest event reported)

TEN Holdings, Inc.

(Exact Name of Registrant as Specified in its Charter)

Nevada		001-42515		99-1291725
(State or other jurisdiction of incorporation)		(Commission File Number)		(I.R.S. Employer Identification No.)

1170 Wheeler Way Langhorne, PA		19047
(Address of Principal Executive Offices)		(Zip Code)

1.800.909.9598

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:

☐	Written communications pursuant to Rule 425 under the Securities Act
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act

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		XHLD		The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

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 3.01 Notice of Delisting or Failure to Satisfy a Continued Rule or Standard; Transfer of Listing.

On June 30, 2025, TEN Holdings, Inc. (the “Company”) received a deficiency letter from the Listing Qualifications Department (the “Staff”) of The Nasdaq Stock Market LLC (“Nasdaq”), notifying the Company that for the last 30 consecutive business days, the bid price for the Company’s common stock had closed below the minimum $1.00 per share requirement for continued inclusion on the Nasdaq Capital Market pursuant to Nasdaq Listing Rule 5550(a)(2) (the “Bid Price Rule”). The deficiency letter does not result in the immediate delisting of the Company’s common stock from the Nasdaq Capital Market.

In accordance with Nasdaq Listing Rule 5810(c)(3)(A) (the “Compliance Period Rule”), the Company has been provided an initial period of 180 calendar days, or until December 29, 2025 (the “Compliance Date”), to regain compliance with the Bid Price Rule. If, at any time before the Compliance Date, the bid price for the Company’s common stock closes at $1.00 or more for a minimum of ten consecutive business days as required under the Compliance Period Rule, the Staff will provide written notification to the Company that it complies with the Bid Price Rule, unless the Staff exercises its discretion to extend this ten day period pursuant to Nasdaq Listing Rule 5810(c)(3)(H).

If the Company is not in compliance with the Bid Price Rule by December 29, 2025, the Company may be afforded a second 180 calendar day period to regain compliance. To qualify, the Company would be required to meet the continued listing requirement for market value of publicly held shares and all other initial listing standards for The Nasdaq Capital Market, except for the minimum bid price requirement. In addition, the Company would be required to notify Nasdaq of its intent to cure the minimum bid price deficiency, which may include, if necessary, implementing a reverse stock split.

If the Company does not regain compliance with the Bid Price Rule by the Compliance Date and is not eligible for an additional compliance period at that time, the Staff will provide written notification to the Company that its common stock may be delisted. The Company would then be entitled to request a hearing and appeal the Staff’s determination to a Nasdaq Hearings Panel .

The Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider available options to regain compliance with the Bid Price Rule, which could include effecting a reverse stock split.  However, there can be no assurance that the Company will be able to regain compliance with the Bid Price Rule.

On June 30, 2025, the Company received an additional deficiency letter from Nasdaq, notifying the Company that, as a result of the resignations of its independent directors, David Price and Justin Sherrock, from the Board of Directors of the Company (the “Board”) and the audit committee of the Board (the “Audit Committee”), effective May 13, 2025, the Company is not in compliance with Nasdaq Listing Rule 5605. The deficiency letter does not result in the immediate delisting of the Company’s common stock from the Nasdaq Capital Market.

Nasdaq Listing Rule 5605, among other things, requires that the Audit Committee be comprised of at least three independent directors. The Audit Committee currently is comprised of only one non-independent director, Randolph Wilson Jones III. In accordance with Nasdaq Listing Rule 5810(c)(2), the Company has been provided 45 calendar days to submit a plan to regain compliance no later than August 14, 2025. If the Company’s plan is accepted by Nasdaq, the Company may be granted an extension of up to 180 calendar days from June 30, 2025 to evidence compliance.

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The Company intends to appoint additional independent directors to serve as members of the Board and the Audit Committee prior to the end of the cure period described above.

Cautionary Note Regarding Forward-Looking Statements

This Current Report on Form 8-K contains certain “forward-looking statements” within the meaning of the Securities Act of 1933, as amended, and the Securities Exchange Act of 1934, as amended. Statements that are not historical facts are forward-looking statements. Such statements include, but are not limited to, statements regarding the Company’s intent and plan to regain compliance with the Nasdaq Listing Rules and the anticipated timing of any such actions. The words “expect,” “believe,” “estimate,” “intend,” “plan” and similar expressions indicate forward-looking statements. These forward-looking statements are not guarantees of future performance and are subject to various risks and uncertainties, assumptions (including assumptions about general economic, market, industry and operational factors), known or unknown, which could cause the actual results to vary materially from those indicated or anticipated. These forward-looking statements are made as of the date of this Current Report on Form 8-K, and the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Exhibit
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

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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.

	TEN Holdings, Inc.
Date: July 2, 2025	By:	/s/ Randolph Wilson Jones III
		Randolph Wilson Jones III
		Chief Executive Officer and Director

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FAQ

Why did Arhaus (ARHS) file an 8-K on 2 July 2025?

The company reported the 27 June 2025 appointment of Samir Desai as an independent director, triggering Item 5.02 disclosure.

Who is the new Arhaus board member and what is his background?

Samir Desai is EVP & Chief Digital and Technology Officer at Abercrombie & Fitch and has over 20 years of retail technology leadership experience.

How long will Samir Desai serve on Arhaus’s Board?

He will serve as a Class III director until the 2027 Annual Meeting, when he is expected to stand for re-election.

Will Desai receive special compensation for joining the Board?

No. His compensation will match that of existing non-employee directors as outlined in Arhaus’s 2025 proxy statement.

Did the board size change with this appointment?

Yes. The Board increased from ten to eleven seats to accommodate Desai’s addition.

Are there any related-party transactions involving Samir Desai and Arhaus?

Arhaus reported none under Item 404(a) of Regulation S-K.