Vinco Ventures (BBIG) CEO and CFO Resign

Vinco Ventures (NASDAQ: BBIG) disclosed:

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

As reported in the Current Report on Form 8-K filed by Vinco Ventures, Inc. (the “Company”) on October 15, 2021, at the Company’s 2021 Annual Meeting of the Stockholders held on October 14, 2021, the stockholders elected Lisa King, Roderick Vanderbilt, Michael J. DiStasio, Elliot Goldstein and Phillip A. McFillin as Directors of the Company. Each newly elected Director of the Company started serving on the Company’s Board of Directors effective October 19, 2021. In connection with the election the Directors, each Director will enter into a Board of Directors Agreement whereby each Director shall be entitled to (i) a quarterly fee of $29,000 and (ii) subject to vesting, 25,000 shares of the Company’s common stock, or restricted stock units (“RSUs”) per quarter and an additional 100,000 RSUs at the end of each one (1) year term, under the Company’s 2021 Equity Incentive Plan or its equivalent. The foregoing description of the Board of Directors Agreement is not complete and is qualified in its entirety by reference to the full text of the Form of Board of Directors Agreement, which is filed as Exhibit 10.1 hereto and is incorporated herein by reference.

The following events occurred on October 19, 2021:

Christopher Ferguson, tendered his resignation as (i) the Company’s Chief Executive Officer, effective October 25, 2021 and (ii) Chairman of the Board of Directors, effective October 19, 2021.

Brett Vroman, the Company’s Chief Financial Officer and Treasurer, tendered his resignation as an officer of the Company, effective November 4, 2021, and has accepted the position of Chief Financial Officer and Treasurer of Cryptyde, Inc., a wholly-owned subsidiary of the Company.

Lisa King has been appointed as the Company’s Chief Executive Officer and President, effective October 25, 2021. Ms. King has more than 25 years of professional experience as a senior marketing and branding leader, C-suite executive, and consultant. The Company and Ms. King are entering into an employment agreement to be effective as of October 25, 2021 (the “King Employment Agreement”).

Stephen Garrow has been appointed as the Company’s Chief Operating Officer, effective October 25, 2021. Mr. Garrow has been a Chief Executive Officer and Senior Professional Business Developer for over 25 years, with experience growing and building companies in a variety of different industries. The Company and Mr. Garrow are entering into an employment agreement to be effective as of October 25, 2021 (the “Garrow Employment Agreement”).

Philip Jones has been appointed as the Company’s Chief Financial Officer, effective November 4, 2021. The Company and Mr. Jones are entering into an employment agreement to be effective as of November 4, 2021 (the “Jones Employment Agreement”).

Each of Louis Foreman, Frank Jennings, Mary Ann Halford and Kevin J. O’Donnell, directors of the Company, tendered their resignation as directors of the Company, effective October 19, 2021.

The foregoing descriptions of the Form of King Employment Agreement, the Form of Garrow Employment Agreement and the Form of Jones Employment Agreement are not complete and are qualified in their entirety by reference to the full text such agreements, which are filed as Exhibits 10.2, 10.3 and 10.4, respectively, hereto and are incorporated herein by reference.

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