In the recent 14A (proxy) statement filed with the SEC Mr. Grover T. Wickersham, currently Executive Chairman at Eastside Distilling (NASDAQ:EAST), was not included in the proposed slate of directors.
Mr. Wickersham is a major stockholder and has guided the company from its modest beginnings to its current position as a significant producer of craft spirits, including the Redneck Riviera Whiskey which is sold nationwide.
He is currently a major stockholder, owning over 5% of the outstanding stock, and is the largest stockholder in the company’s management.
It is unusual for such an exclusion to occur and signals a significant rift within the officers and directors of the company.
DISCLOSURE: Zacks SCR has received compensation from the issuer directly or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks provides and Zacks receives quarterly payments totaling a maximum fee of $30,000 annually for these services. Full Disclaimer HERE.