Company: CRWS
Filing Date: 2025-06-16
Form Type: 8-K
Source: 0001437749-25-020526
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Company: CROWN CRAFTS INC
Filing Date: 2025-06-16
Form: 8-K
Item: Item 5.02
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Item 5.02.      Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.  

As previously disclosed, Craig J. Demarest will retire as the Chief Financial Officer and principal financial and accounting officer of Crown Crafts, Inc. (the “ Company”), effective June 30, 2025.

On June 16, 2025, the Company’s Board of Directors appointed Claire K. Spencer as the Company’s: (i) Vice President, effective June 16, 2025; and (ii) Chief Financial Officer, Secretary and principal financial and accounting officer, effective June 30, 2025 upon Mr. Demarest’s retirement as the Company’s Chief Financial Officer and principal financial and accounting officer.

Ms. Spencer, age 35, served from July 30, 2021 through June 2, 2025 as Director of SEC Reporting for H& E Equipment Services, Inc., a Nasdaq listed equipment rental company (“ H& E”), where she was responsible for managing all aspects of H& E’s Securities and Exchange Commission filings and compliance. From July 2019 to July 2021, Ms. Spencer served as H& E’s SEC Reporting Manager. Prior to joining H& E, she was the Financial Reporting Manager at HRI Properties, LLC, a real estate development company, from May 2017 to June 2019 and served in various audit roles at KPMG, LLP from October 2013 to May 2017. Ms. Spencer earned a Master of Science in Accounting and a Bachelor of Business Administration in Accounting from Southern Methodist University. She is a member of the American Institute of Certified Public Accountants as well as both the Texas and Louisiana Society of Certified Public Accountants.

On June 16, 2025, the Company and Ms. Spencer entered into an Employment Agreement (the “ Employment Agreement”) that provides for an initial term expiring June 30, 2026; however, beginning on July 1, 2025 and continuing on the first day of each calendar month thereafter, such term shall be extended automatically for one additional calendar month so that the term of the Employment Agreement will always be for one full year as of the commencement of each calendar month, unless either the Company or Ms. Spencer provides notice to the other at any time that the term shall not be further extended and shall terminate at the end of the one-year period following such notice. Under the Employment Agreement,