UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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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 Director
On September 1, 2023, the Board of Directors (the “Board”) of Karat Packaging Inc. (the “Company”), acting upon the recommendation of the Nominating and Corporate Governance Committee, appointed Jian Guo, the Company’s Chief Financial Officer, as a director of the Company to fill the vacancy resulting from Joanne Wang’s departure from the Board, effective September 1, 2023. Ms. Guo will serve as a director of the Company until the Company’s next annual meeting of stockholders and until her successor is duly elected and qualified, or until her earlier resignation or removal.
There are no related party transactions between the Company and Ms. Guo which would require disclosure under Item 404 of Regulation S-K.
A copy of the press release announcing Ms. Guo’s appointment as director of the Company is attached to this Current Report on Form 8-K as Exhibit 99.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
The following exhibits are furnished herewith:
| Exhibit Number |
Description | |
| 99.1 | Press release, dated September 5, 2023. | |
| 104 | Cover Page Interactive Data File - the cover page iXBRL tags are embedded within the Inline XBRL document |
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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.
| Date: September 5, 2023 | KARAT PACKAGING INC. | |
| By: | /s/ Jian Guo | |
| Jian Guo | ||
| Chief Financial Officer | ||
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Exhibit 99.1
Karat Packaging Appoints Jian Guo Board of Directors
CHINO, Calif., September 5, 2023 –Karat Packaging Inc. (Nasdaq: KRT) (the “Company” or “Karat”), a specialty distributor and manufacturer of disposable foodservice products and related items, today announced the appointment of its Chief Financial Officer, Jian Guo, to the board of directors, effective immediately, filling a vacant seat. Ms. Guo will continue in her role as Chief Financial Officer.
Ms. Guo joined Karat in February 2022 with deep experience in the public company marketplace. Previously, she was senior vice president and corporate controller at Resources Connection, Inc., a Nasdaq-listed global consulting firm, and was senior director, financial reporting, at Newegg Inc., an international tech-focused e-retailer. She previously held a nine-year career with Ernst & Young, LLP, assisting with public offerings and SEC reporting and managing multiple audit teams.
Karat’s board comprises five members, three of whom are independent.
About Karat Packaging Inc.
Karat Packaging Inc. is a specialty distributor and manufacturer of a wide range of disposable foodservice products and related items, primarily used by national and regional restaurants and in foodservice settings throughout the United States. Its products include food and take-out containers, bags, tableware, cups, lids, cutlery, straws, specialty beverage ingredients, equipment, gloves and other products. The company’s eco-friendly Karat Earth® line offers quality, sustainably focused products that are made from renewable resources. Karat Packaging also offers customized solutions, including new product development and design, printing, and logistics services. To learn more about Karat Packaging, please visit the company’s website at www.karatpackaging.com.
Investor Relations and Media Contacts:
PondelWilkinson Inc.
Judy Lin/Roger Pondel
310-279-5980
ir@karatpackaging.com