cbdMD extends HQ lease and lowers rent costs

cbdMD, Inc. has extended and restructured the lease for its combined warehouse and executive offices at 2101 Westinghouse Boulevard in Charlotte, North Carolina.

Rhea-AI Filing Summary

cbdMD, Inc. has extended and restructured the lease for its combined warehouse and executive offices at 2101 Westinghouse Boulevard in Charlotte, North Carolina.

The Third Amendment to Lease extends the term for 62 months beginning on October 1, 2026, creating a new expiration date of November 30, 2031 for 40,000 square feet of space. The amendment reduces monthly base rent to $38,000 for the initial year of the renewal term, with annual base rent of $9.75 per square foot from March 1, 2025 through February 28, 2026, increasing up to $13.87 per square foot for the final two months of the term. Monthly base rent is fully abated from October 1, 2026 through November 30, 2026.

Management states that reducing the leased footprint to 40,000 square feet is sufficient for current and expected operations and that remaining in the current facility aligns with the company’s long-term needs. The company estimates an annual reduction in gross rent expense of approximately $450,000 and a net rent expense reduction of about $100,000 to $120,000 per year after accounting for ongoing sublet income.

Insights

Real estate and cost-structure analyst

Lease amendment trims cbdMD’s facility costs while preserving operational capacity.

The company extended its Charlotte headquarters and warehouse lease through November 30, 2031 while downsizing to 40,000 square feet. Base rent starts at $38,000 per month for the first renewal year, with per-square-foot rates stepping up over time.

Management highlights that the smaller footprint still supports current and expected operations. The amendment is projected to lower annual gross rent expense by about $450,000 and net rent expense by roughly $100,000–$120,000, after sublet income. These savings modestly ease ongoing operating costs.

Future filings may clarify how these rent savings affect overall operating expenses and any changes in sublease arrangements over the extended lease term through 2031.

8-K Event Classification

3 items: 1.01, 2.03, 9.01

3 items

Item 1.01 Entry into a Material Definitive Agreement Business

The company signed a significant contract such as a merger agreement, credit facility, or major partnership.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement Financial

The company incurred a new significant debt or off-balance-sheet obligation.

Item 9.01 Financial Statements and Exhibits Exhibits

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

Key Figures

Lease term extension: 62 months Facility size: 40,000 square feet Initial renewal base rent: $38,000 per month +5 more

8 metrics

Lease term extension 62 months Renewal term beginning October 1, 2026

Facility size 40,000 square feet Leased space after amendment

Initial renewal base rent $38,000 per month Monthly base rent for first year of renewal term

Base rent rate (early period) $9.75 per square foot Annual base rent from March 1, 2025 to February 28, 2026

Base rent rate (final period) $13.87 per square foot Annual base rent for final two months of amended term

Gross rent savings $450,000 per year Estimated annual reduction in gross rent expense

Net rent savings $100,000–$120,000 per year Estimated annual reduction in net rent expense after sublet rent

Rent abatement period 2 months Base rent abated from October 1, 2026 to November 30, 2026

Key Terms

Material Definitive Agreement, Additional Rent, gross rent expense, net rent expense, +1 more

5 terms

Material Definitive Agreement regulatory

"Item 1.01. Entry into a Material Definitive Agreement."

A material definitive agreement is a legally binding contract that creates major, long‑term obligations or rights for a company, such as loans, asset sales, mergers, or supplier deals. Think of it like a mortgage or lease for a business: it can change future cash flow, risk and control, so investors watch these agreements closely because they can materially affect a company’s value, financial health and stock price.

Additional Rent financial

"The Company shall also continue to pay Additional Rent and all other amounts."

gross rent expense financial

"The Amendment results in an annual reduction of gross rent expense of approximately $450,000 per year"

net rent expense financial

"and net rent expense reduction of approximately $100,000 to $120,000 per year when factoring in ongoing sublet rent."

Emerging growth company regulatory

"Emerging growth company"

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.

FAQ

What lease change did cbdMD (YCBD) announce in this Form 8-K?

cbdMD extended and amended its Charlotte, North Carolina warehouse and executive office lease. The Third Amendment to Lease runs 62 months from October 1, 2026, resetting expiration to November 30, 2031 while reducing space and revising rent terms.

How much space does cbdMD (YCBD) lease after the amendment?

After the amendment, cbdMD leases 40,000 square feet at 2101 Westinghouse Boulevard. Management states the reduced footprint is sufficient for current and expected operations, allowing the company to remain in its existing facility while lowering rent-related operating expenses over the new term.

What are the new rent terms for cbdMD’s amended lease?

The amendment sets monthly base rent at $38,000 for the initial renewal year, with annual base rent of $9.75 per square foot from March 1, 2025 to February 28, 2026. Rates then increase, reaching up to $13.87 per square foot for the final two months.

Does cbdMD (YCBD) receive any rent abatement under the new lease?

Yes. Monthly base rent is fully abated from October 1, 2026 through November 30, 2026. During this two-month period, cbdMD does not pay base rent, although it continues to be responsible for Additional Rent and all other amounts required under the lease.

How much does cbdMD expect to save from the lease amendment?

The company estimates an annual gross rent expense reduction of about $450,000. After factoring in ongoing sublet rent, cbdMD projects a net rent expense reduction of roughly $100,000 to $120,000 per year over the extended lease term.

Why did cbdMD decide to extend its current lease instead of relocating?

Management evaluated options for the expiring lease and concluded an extension was in the company’s best interests. They believe remaining in the current facility with a reduced footprint aligns with cbdMD’s current and long-term needs while lowering operating expenses compared with prior lease terms.

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

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Accepted by SEC EDGAR 05/20/2026 - 05:16 PM Learn about SEC filing dates

false 0001644903 0001644903 2026-05-20 2026-05-20

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): May 20, 2026

cbdMD, Inc.

(Exact name of registrant as specified in its charter)

North Carolina		001-38299		47-3414576
(State or other Jurisdiction of Incorporation)		(Commission File Number)		(IRS Employer Identification No.)

2101 Westinghouse Blvd., Suite A

Charlotte, NC 28273

(704)445-3060

(Address and telephone number, including area code, of registrant’s principal executive offices)

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: None.

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	YCBD	NYSE American

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 1.01. Entry into a Material Definitive Agreement.

Effective May 20, 2026, cbdMD, Inc. (the “Company”) entered into a Third Amendment to Lease (the “Amendment”) to extend the Warehouse Lease entered into on August 27, 2019, as amended (the “Lease”), located at 2101 Westinghouse Boulevard, Suite A, Charlotte, North Carolina 28273. The facility also serves as the Company’s executive offices. The Amendment extends the term of the Lease for a period of 62 months beginning on October 1, 2026, with a new expiration date of November 30, 2031 for 40,000 square feet of space. The Amendment provides for the reduction in monthly base rent to $38,000 per month for the initial year of the renewal term, with an annual base rent of $9.75 per square feet from March 1, 2025 through February 28, 2026, subject to annual increases up to $13.87 per square foot for the final two months of the amended term of the Lease. The Company shall also continue to pay Additional Rent and all other amounts. The monthly base rent shall be abated for the period from October 1, 2026 through November 30, 2026. Furthermore, as set forth under the Amendment the Company reduced the size of the Lease to 40,000 square feet, as the reduced size of the Lease is sufficient for the Company’s current and expected operations.

Prior to entering into the Amendment management of the Company evaluated options regarding the expiring Lease and determined that an extension was in the Company’s best interests. Management believes that the Company remaining in its current facilities with a reduced footprint aligns with the Company’s current and long-term needs and reduces operating expenses throughout the extended lease term. The Amendment results in an annual reduction of gross rent expense of approximately $450,000 per year and net rent expense reduction of approximately $100,000 to $120,000 per year when factoring in ongoing sublet rent.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment which is filed as Exhibit 10.1 to this Form 8-K and incorporated herein by reference.

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.

The information set forth in “Item 1.01 Entry into a Material Definitive Agreement” is incorporated by reference herein in its entirety.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Exhibit
10.1		Third Amendment to Lease effective May 20, 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, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	cbdMD, Inc.
Date: May 20, 2026	By:	/s/ T. Ronan Kennedy
		Name: T. Ronan Kennedy
		Title: Chief Executive Officer and Chief Financial Officer

Filing Exhibits & Attachments

5 documents

Agreements & Contracts

• EX-10.1 EXHIBIT 10.1 39.8 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 3.5 KB
• EX-101 XBRL TAXONOMY EXTENSION DEFINITION LINKBASE 11.5 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 15.5 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 11.7 KB