EAST: Proposed change in management at Eastside Distilling

By Ian Gilson, PhD, CFA

NASDAQ:EAST

READ THE FULL EAST RESEARCH REPORT

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.

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