Company: IPST
Filing Date: 2025-04-28
Form Type: 10-K
Source: 0001788230-25-000048
Chunk: 117

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-04-28
Form: 10-K
Item: Item 11
Chunk 117
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The following table sets forth the aggregate non-employee director compensation earned for services for the year ended December 31, 2024 (excluding compensation to our executive officers set forth in the summary compensation table above). Directors Wensel, Baumann, Trevan, Alstead, and Varga agreed to defer receipt of their fees until 2025.

Name Fees Earned or Paid in Cash(1) Stock Awards All Other Compensation Total($)Jeffrey Wensel, M.D., Ph.D. $10,000  $96,000 $— $106,000 Laura Baumann(2)  1,667  —  —  1,667Eric S. Trevan, Ph.D.  10,000  8,000  —  18,000Christopher (Toby) Smith  10,000  8,000  —  18,000Troy Alstead(3)833——833Andrew Varga(3)833——833Total: $33,333  $112,000 $— $145,333 

92

(1)    Represents cash fees payable to the members of our board of directors for the year ended December 31, 2024. Directors agreed to defer their cash fees until 2025. 

(2)    Ms. Baumann resigned from our board of directors in February 2024.

(3)    Mr. Alstead and Mr. Varga were appointed to our board of directors at the closing of our November 2024 initial public offering and the fees shown in the table above represents fees for December 2024.

Cash Compensation.    Under a new director compensation program adopted in connection with our November 2024 initial public offering, we pay each non-employee director a cash fee, payable quarterly, of $40,000 per year for service on our board of directors.

Committee Fees.    If a non-employee director is designated to participate on a committee of our board of directors as either a chairperson or non-chairperson member, such director is entitled to compensation in addition to the quarterly cash fee in accordance with the following table:

 Chair MemberAudit Committee $5,000/qtr $2,500/qtrCompensation Committee $5,000/qtr $2,500/qtrNominating and Governance Committee