Company: RILYN
Filing Date: 2025-05-22
Form Type: 8-K
Source: 0001213900-25-046915
Chunk: 1

Company: B. Riley Financial, Inc.
Filing Date: 2025-05-22
Form: 8-K
Item: Item 5.02
Chunk 1
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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

Appointment of New Chief Financial Officer

On May 19, 2025, B. Riley Financial,
Inc. (the “ Company”) announced that Scott Yessner has been appointed to serve as Executive Vice President and Chief Financial
Officer of the Company, effective June 3, 2025 (the “ Transition Date”). Mr. Yessner succeeds Phillip J. Ahn, who resigned
on May 16, 2025 as Chief Financial Officer and Chief Operating Officer of the Company as well as a director and officer of certain Company
subsidiaries, effective as of the Transition Date.

Mr. Yessner, age 55, who
has served as a strategic advisor to the Company for the past two months, previously served as Chief Financial Officer of Funko, Inc,
from 2022 to 2023. Prior to that role, Mr. Yessner served as Chief Financial Officer of California Expanded Metal Products Company (CEMCO),
from 2020 to 2022. Prior to that role, Mr. Yessner served as Chief Financial Officer of Universal Technical Institute from 2018 to 2019.

There are no arrangements
or understandings between Ms. Yessner and any other person pursuant to which Mr. Yessner was appointed to serve as Chief Financial Officer
of the Company. There are no family relationships between Mr. Yessner and any director or executive officer of the Company, and Mr. Yessner
has no direct or indirect material interest in any transaction required to be disclosed pursuant to Item 404(a) of Regulation
S-K.

Employment Agreement with Mr. Yessner

Mr. Yessner entered into an Employment
Agreement, dated as of May 19, 2025, with the Company (the “ Employment Agreement”) in respect of his service as Executive
Vice President and Chief Financial Officer, which provides for a term of one year and which will automatically renew for additional one
year terms unless either party notifies the other of non-renewal in accordance with the Employment Agreement.

Pursuant to the Employment
Agreement, Mr. Yessner will receive an initial annual base salary of $600,000, and eligible to receive a discretionary annual performance
bonuses with a target of $1,000,000, with a minimum of $