The Boston Beer Company Announces Departure of Director Michael Lynton

Strategic Insights -

The Boston Beer Company, Inc., a Massachusetts-based brewery, has filed a Form 8-K report with the U.S. Securities and Exchange Commission stating that Michael M. Lynton, a member of the company's board of directors, will not stand for re-election at the end of his current term. Lynton's decision to step down was not due to any disagreements with the company or the board regarding its operations, policies, or practices. The company is currently seeking a nominee to fill the independent Class B director vacancy.

Key Takeaways:

  • Michael M. Lynton, a member of The Boston Beer Company's board of directors, has decided not to stand for re-election at the end of his current term, effective with the conclusion of the company's 2023 Annual Meeting of Stockholders.
  • Lynton's decision to step down was not due to any disagreements with the company or the board regarding its operations, policies, or practices.
  • A search is currently underway to fill the independent Class B director vacancy resulting from Lynton's decision.
  • The company will share information about Lynton's successor once a nominee has been identified.
  • The Boston Beer Company, Inc. has filed a Form 8-K report with the U.S. Securities and Exchange Commission detailing Lynton's departure.
  • President and Chief Executive Officer David A. Burwick signed the report on behalf of the company.

Statistics:

  • 2023 Annual Meeting of Stockholders: The meeting will take place at the conclusion of which Michael M. Lynton will step down from the board of directors.
  • March 27, 2023: The date on which Michael M. Lynton notified the board of directors of his decision not to stand for re-election.
  • March 28, 2023: The date on which the Form 8-K report was signed by CEO David A. Burwick.

Sources:

  • 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.