# EDGAR Filing Document

**Accession Number:** 0001644903
**File Stem:** 0001437749-26-017970
**Filing Date:** 2026-5
**Character Count:** 19006
**Document Hash:** 346e15bc3277f84a3a669f6319b63a43
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001437749-26-017970.hdr.sgml**: 20260520

**ACCESSION NUMBER**: 0001437749-26-017970

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 17

**CONFORMED PERIOD OF REPORT**: 20260520

**ITEM INFORMATION**: Entry into a Material Definitive Agreement

**ITEM INFORMATION**: Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260520

**DATE AS OF CHANGE**: 20260520

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** cbdMD, Inc.
- **CENTRAL INDEX KEY:** 0001644903
- **STANDARD INDUSTRIAL CLASSIFICATION:** PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 473414576
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38299
- **FILM NUMBER:** 261005106

**BUSINESS ADDRESS:**
- **STREET 1:** 8845 RED OAK BOULEVARD
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28217
- **BUSINESS PHONE:** 704-445-3060

**MAIL ADDRESS:**
- **STREET 1:** 8845 RED OAK BOULEVARD
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28217

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Level Brands, Inc.
- **DATE OF NAME CHANGE:** 20170202

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEVEL BEAUTY GROUP, INC.
- **DATE OF NAME CHANGE:** 20150611

?xml version='1.0' encoding='ASCII'? ycbd20260520_8k.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported): May 20, 2026**

---

| |
|:---|
| **cbdMD, Inc.** |
| **(Exact name of registrant as specified in its charter)** |

---

---

| | | |
|:---|:---|:---|
| **North Carolina** | **001-38299** | **47-3414576** |
| **(State or other Jurisdiction**<br> **of Incorporation)** | **(Commission**<br> **File Number)** | **(IRS Employer**<br> **Identification No.)** |

---

**2101 Westinghouse Blvd., Suite A**

**Charlotte, NC 28273**

**<u>(704)</u><u>445-3060</u>**

(Address and telephone number, including area code, of registrant's principal executive offices)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act: None.

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock | YCBD | NYSE American |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**Item 1.01. Entry into a Material Definitive Agreement.**

Effective May 20, 2026, cbdMD, Inc. (the "Company") entered into a Third Amendment to Lease (the "Amendment") to extend the Warehouse Lease entered into on August 27, 2019, as amended (the "Lease"), located at 2101 Westinghouse Boulevard, Suite A, Charlotte, North Carolina 28273. The facility also serves as the Company's executive offices. The Amendment extends the term of the Lease for a period of 62 months beginning on October 1, 2026, with a new expiration date of November 30, 2031 for 40,000 square feet of space. The Amendment provides for the reduction in monthly base rent to $38,000 per month for the initial year of the renewal term, with an annual base rent of $9.75 per square feet from March 1, 2025 through February 28, 2026, subject to annual increases up to $13.87 per square foot for the final two months of the amended term of the Lease. The Company shall also continue to pay Additional Rent and all other amounts. The monthly base rent shall be abated for the period from October 1, 2026 through November 30, 2026. Furthermore, as set forth under the Amendment the Company reduced the size of the Lease to 40,000 square feet, as the reduced size of the Lease is sufficient for the Company's current and expected operations.

Prior to entering into the Amendment management of the Company evaluated options regarding the expiring Lease and determined that an extension was in the Company's best interests. Management believes that the Company remaining in its current facilities with a reduced footprint aligns with the Company's current and long-term needs and reduces operating expenses throughout the extended lease term. The Amendment results in an annual reduction of gross rent expense of approximately $450,000 per year and net rent expense reduction of approximately $100,000 to $120,000 per year when factoring in ongoing sublet rent.

The foregoing description of the Amendment does not purport to be complete and is qualified in its entirety by reference to the full text of the Amendment which is filed as Exhibit 10.1 to this Form 8-K and incorporated herein by reference.

**Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant.**

The information set forth in "Item 1.01 Entry into a Material Definitive Agreement" is incorporated by reference herein in its entirety.

**Item 9.01 Financial Statements and Exhibits.**

(d) Exhibits.

---

| | |
|:---|:---|
| **Exhibit**<br> **Number** | **Exhibit** |
| 10.1 | [Third Amendment to Lease effective May 20, 2026](ex_965987.htm) |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
|  | **cbdMD, Inc.** | **cbdMD, Inc.** |
| Date: May 20, 2026 | By: | */s/ T. Ronan Kennedy* |
|  |  | Name: T. Ronan Kennedy |
|  |  | Title: Chief Executive Officer and Chief Financial Officer |

---

## Exhibit 10.1

**Exhibit 10.1**

**<u>THIRD AMENDMENT TO LEASE</u>**

This THIRD AMENDMENT TO LEASE (this "**<u>Amendment</u>**") is executed as of the Amendment Effective Date (as defined below), between FIVF-III-NC1 LLC, a Delaware limited liability company ("**<u>Landlord</u>**"), and cbdMD, Inc., a North Carolina corporation ("**<u>Tenant</u>**").

**<u>RECITALS:</u>**

WHEREAS, Landlord and Tenant are parties to that certain Lease dated August 27, 2019 for approximately 80,000 square feet of space located at 2101 Westinghouse Boulevard, Suite A, Charlotte, North Carolina 28273 as more fully described in the Lease ("<u>Existing Premises</u>"), as amended by that certain First Amendment to Lease Agreement dated April 28, 2020, and that certain Second Amendment to Lease Agreement dated November 26, 2024 (as amended and assigned, the "**<u>Lease</u>**");

WHEREAS, Tenant desires to relinquish and vacate a portion of the Existing Premises comprised of 40,000 rentable square feet of space depicted on <u>Exhibit</u> <u>"</u><u>A</u><u>"</u> attached hereto and incorporated herein ("<u>Relinquished Premises</u>");

WHEREAS, Landlord and Tenant desire to amend the Lease to, among other things, extend the Term of the Lease for an additional sixty-two (62) months, on the terms and conditions set forth herein.

**<u>AGREEMENTS:</u>**

NOW THEREFORE, for valuable consideration, whose receipt and sufficiency are acknowledged, Landlord and Tenant agree as follows:

1. **<u>Extension of Term</u>**. The Term of the Lease is hereby extended for a period of sixty-two (62) months, beginning on October 1, 2026 (the "**<u>Second Renewal Date</u>**"), such that the new Expiration Date is November 30, 2031 (the "**<u>Second Extension Term</u>**"), on the terms and conditions of the Lease, as modified hereby. Tenant shall have no further rights to extend or renew or extend the Term of the Lease.

2. **<u>Relinquishment</u>**,

a. Tenant shall vacate the Relinquished Premises on or before September 30, 2026 ("<u>Relinquishment Date</u>") in accordance with Section 4.1 of the Lease. Notwithstanding anything to the contrary herein, in the event Tenant does not so vacate the Relinquished Premises, Tenant shall be deemed to be holding over with respect to the Relinquished Premises and subject to Section 4.2 of the Lease in connection therewith.

b. Effective the Second Renewal Date, the following shall apply:

(i) The term "Premises" shall mean the Existing Premises less and except the Relinquished Premises.

(ii) The term "Proportionate Share" shall mean 20%.

(iii) As of the Second Renewal Date, the size of the Premises shall be deemed to be 40,000 SF.

c. Provided Tenant complies with its obligations in Section 2(a) above, Landlord, at Landlord's expense, shall erect a wall separating the Relinquished Premises from the remaining Premises, which wall shall be metal stud construction and encapsulated in drywall of substantially similar materials and quality as the demising wall presently separating the Existing Premises from the adjacent tenant's suite ("<u>Wall Work</u>"). Landlord, and its agents, shall have the right to enter the Premises as reasonably necessary to complete the Wall Work. Tenant agrees to temporarily move any of Tenant's personal property or inventory so such does not interfere with the Wall Work. Landlord will commence the Wall Work on or before October 1, 2026 and make commercially reasonable efforts to substantially complete the Wall Work on or before December 31, 2026.

------

3. **<u>Monthly Base Rent</u>**. From and after the Second Renewal Date and continuing through the Second Extension Term, the Monthly Base Rent under the Lease for the Premises shall be the following amounts for the following periods of time:

---

| | | |
|:---|:---|:---|
| <br> **Time Period**<br>| <br> **Monthly Base Rent**<br>| <br> **Annual Base Rent**<br>|
| 10/01/2026 – 09/30/2027 | $38000.00 | $11.40 PSF |
| 10/01/2027 – 09/30/2028 | $39520.00 | $11.86 PSF |
| 10/01/2028 – 09/30/2029 | $41100.80 | $12.33 PSF |
| 10/01/2029 – 09/30/2030 | $42744.83 | $12.82 PSF |
| 10/01/2030 – 09/30/2031 | $44454.63 | $13.34 PSF |
| 10/01/2031 – 11/30/2031 | $46232.81 | $13.87 PSF |

---

4. **<u>Excused Rent</u>**.

a. The Monthly Base Rent shall be abated for the period from October 1, 2026 through November 30, 2026 (the "<u>Excused Rent</u>"); provided, however that if there is an Event of Default beyond any applicable cure period at any time during Second Extension Term, all Excused Rent shall become immediately due and payable to Landlord. Notwithstanding anything to the contrary contained herein, Landlord and Tenant acknowledge and agree that the Excused Rent applies only to the amount of Monthly Base Rent due under the Lease, and that Tenant is and shall be responsible for paying Landlord all Additional Rent and other costs and fees as set forth in this Lease during the period of Excused Rent.

b. In the event Landlord does not substantially complete the Wall Work on or before December 31, 2026, the Monthly Base Rent shall be abated for the period from January 1, 2027 until the Wall Work is substantially complete (the "Extended <u>Excused Rent</u>"); provided, however that if there is an Event of Default beyond any applicable cure period at any time during Second Extension Term, any Extended Excused Rent shall become immediately due and payable to Landlord. Notwithstanding anything to the contrary contained herein, Landlord and Tenant acknowledge and agree that the Extended Excused Rent applies only to the amount of Monthly Base Rent due under the Lease, and that Tenant is and shall be responsible for paying Landlord all Additional Rent and other costs and fees as set forth in this Lease during the period of any Extended Excused Rent.

5. **<u>Additional Rent</u>**. During the Second Extension Term, Tenant shall continue to pay Additional Rent and all others amounts (other than Monthly Base Rent) in accordance with the terms of the Lease.

6. **<u>Acceptance of Premises</u>**. Except for the Wall Work contemplated in Section 2 above, Tenant accepts the Premises in their "AS-IS" condition and Landlord shall have no obligation to improve, repair, restore or refurbish the Premises except as otherwise specifically provided in the Lease. Tenant acknowledges that neither Landlord nor any agent of Landlord has made any representation or warranty, except as otherwise expressly provided in this Amendment, with respect to the Premises including, without limitation, any representation or warranty with respect to the suitability or fitness of the Premises or any other portion of the Project or common areas for the conduct of Tenant's business.

------

7. **<u>Brokerage</u>*.*** Newmark ("**<u>Tenant</u>**<u>'</u>**<u>s</u> <u>Broker</u>**") is acting as agent for Tenant in connection with this Amendment and not as agent for Landlord, and Landlord shall pay to Broker a commission in accordance with the terms of a separate written agreement between Tenant's Broker and Landlord. Foundry Commercial ("**<u>Landlord</u>**<u>'</u>**<u>s Broker</u>**") is acting as agent for Landlord in connection with this Amendment and not as agent for Tenant, and Landlord shall pay to Landlord's Broker a commission in accordance with the terms of a separate written agreement between Landlord's Broker and Landlord. Tenant warrants and represents to Landlord that, other than Landlord's Broker and Tenant's Broker, no other party is entitled, as a result of the actions of Tenant, to a commission or other fee resulting from the Lease or the execution of this Amendment and agrees to indemnify and hold harmless Landlord against any such claims. Landlord warrants and represents to Tenant that, other than Landlord's Broker and Tenant's Broker, no other party is entitled, as a result of the actions of Landlord, to a commission or other fee resulting from the Lease or the execution of this Amendment and agrees to indemnify and hold harmless Tenant against any such claims.

8. **<u>Ratification</u>**. Tenant hereby ratifies and confirms its obligations under the Lease, and represents and warrants to Landlord that it has no defenses thereto. Additionally, Tenant further confirms and ratifies that, as of the date hereof, (a) the Lease is and remains in good standing and in full force and effect, (b) Tenant has no claims, counterclaims, set-offs or defenses against Landlord arising out of the Lease or in any way relating thereto or arising out of any other transaction between Landlord and Tenant, and (c) all tenant finish-work allowances provided to Tenant under the Lease or otherwise, if any, have been paid in full by Landlord to Tenant, and Landlord has no further obligations with respect thereto.

9. **<u>Headings</u>**. The headings or captions of the paragraphs in this Amendment are for convenience only and shall not act and shall not be implied to act to limit or expand the construction and intent of the contents of the respective paragraph.

10. **<u>Terms</u>**. Except as otherwise defined in this Amendment, all capitalized terms used herein shall have the same meaning as set forth in the Lease.

11. **<u>Binding Effect; Governing Law</u>**. Except as modified hereby, the Lease shall remain in full effect and this Amendment shall be binding upon Landlord and Tenant and their respective successors and assigns. If any inconsistency exists or arises between the terms of this Amendment and the terms of the Lease, the terms of this Amendment shall prevail. This Amendment shall be governed by the laws of the State of North Carolina.

12. **<u>Counterparts</u>**. This Amendment may be executed by the parties in multiple counterparts, which together shall have the full force and effect of a fully executed agreement between the parties. This Amendment may be executed by hand-signatures or by electronic signatures using DocuSign or other similar technology. Such signatures may be transmitted by email. Any such electronic signatures or electronic transmissions of signatures shall be deemed to constitute originals.

13. **<u>Amendment Effective Date</u>**. The term "<u>Amendment Effective Date</u>" shall mean the date this Amendment is last executed by Landlord or Tenant.

14. **<u>Authority</u>**. Those persons signing this Amendment on behalf of the Landlord and Tenant represent that they are fully authorized to do so and are authorized to bind said party to the terms of this Amendment.

*[remainder of page intentionally left blank]*

------

This Amendment is executed on the respective dates set forth below, but for reference and effectiveness purposes this Amendment shall be dated as of the Amendment Effective Date.

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <u>LANDLORD</u>: | FIVF-III-NC1 LLC,<br> a Delaware limited liability company | FIVF-III-NC1 LLC,<br> a Delaware limited liability company |
|  | By:  | ![sig01.jpg](sig01.jpg) |
|  | Name: Ohad Porat<br> Title: Manager Execution Date:  | Name: Ohad Porat<br> Title: Manager Execution Date:  |

---

Execution Date: <u> 5/20/2026 </u>

---

| | |
|:---|:---|
| By: | ![sig02.jpg](sig02.jpg) |
| Name: Rebekah Snider<br> Title: Vice President Execution Date | Name: Rebekah Snider<br> Title: Vice President Execution Date |

---

Execution Date: <u>5/19/2026</u>

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<u>TENANT</u>: | CBDMD, INC.,<br> a North Carolina corporation | CBDMD, INC.,<br> a North Carolina corporation |
|  | By: | ![sig03.jpg](sig03.jpg) |
|  | Name: T. Ronan Kennedy<br> Title: CEO & CFO | Name: T. Ronan Kennedy<br> Title: CEO & CFO |

---

Execution Date: <u>5/18/2026</u> <br>

------

**<u>EXHIBIT</u>** <u>"</u>**<u>A</u>**<u>"</u>

**FLOOR PLAN**

![i01.jpg](i01.jpg)