Company: IPST
Filing Date: 2025-10-03
Form Type: 8-K
Source: 0001788230-25-000162
Chunk: 0

Company: Heritage Distilling Holding Company, Inc.
Filing Date: 2025-10-03
Form: 8-K
Item: Item 1.01
Chunk 0
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Item 1.01 Entry into a Material Definitive Agreement

Information regarding employment arrangements for Justin Stiefel, Chief Executive Officer (“ CEO”), Jennifer Stiefel, President, and Michael Carrosino, Chief Financial Officer (“ CFO”), are included in Item 5.02 of this Current Report on Form 8-K is incorporated by reference into this Item 1.01.

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

On October 1, 2025, Heritage Distilling Holding Company, Inc. (the “ Company,” “we” or “our”) entered into 18-month employment agreements with Justin Stiefel, our Chief Executive Officer, Jennifer Stiefel, our President, and Michael Carrosino, our Executive Vice President and Chief Financial Officer. The following is a summary of the compensation arrangements set forth in each of such employment agreements.

  Executive              Title                                                     Annual Base Salary                   Initial Restricted Stock Unit Grant in Shares  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Justin Stiefel         Chairman and Chief Executive Officer                      $                       195,000                                          3,500,000  
  Jennifer Stiefel       President                                                                         175,000                                            500,000  
  Michael Carrosino      Executive Vice President and Chief Financial Officer                              260,000                                            250,000  

In recognition of the effort put into identifying, negotiating, and completing our recent private placement of our Pre-Funded Warrants and the fundamental change in our liquidity such offering provided, and as an incentive to continue employment with us, pursuant to his employment agreement, we granted to Mr. Stiefel a restricted stock unit award of 3,500,000 shares of common stock. As an incentive to continue employment with us pursuant to her employment agreement, we granted to Ms. Stiefel a restricted stock unit award of 500,000 shares of common stock. Under those agreements, such restricted stock unit awards will vest monthly over an 18-month period.

Pursuant to his employment agreement, we granted to Mr. Carrosino a restricted stock unit award of 250,000 shares of common stock, of which 50,000 shares were vested on the date of grant and 200,000 shares will vest monthly over the 18-month term of his employment agreement. Under Mr. Carrosino