Summary by Moomoo AI
LQR House announced significant changes to its Board of Directors on December 19, 2024. Lijun Chen was appointed as Chairman, while Dr. Jing Lu joined as a new board member. These appointments followed the resignations of James Huber and Gary Herman. The company also elected four new directors at its Annual Meeting.The newly appointed and elected directors will receive an annual cash fee of $36,000 and 50,000 restricted stock units vesting quarterly over two years. Stockholders approved six proposals at the Annual Meeting, including the election of eight directors, approval of a securities purchase agreement, an increase in shares for the 2021 Plan, and authorization for a potential reverse stock split.CEO Sean Dollinger expressed enthusiasm about the new board members, citing their expertise in e-commerce, finance, and strategic leadership as crucial for LQR House's growth in the spirits and beverage industry e-commerce sector.
