Summary by Moomoo AI
On April 18, 2024, Smart for Life, Inc. announced the resignation of Robert S. Rein from its Board of Directors. The company clarified that Rein's departure was not due to any disagreements regarding operations or policies. Concurrently, Heather Granato was appointed to the Board to fill the vacancy, also joining the Audit, Compensation, and Nominating and Corporate Governance Committees, and serving as Chair of the Compensation Committee. Granato, with a 30-year tenure in the natural products industry and a background in content and marketing, was deemed independent by the Board and qualified to serve due to her extensive industry experience. Smart for Life entered into an independent director agreement with Granato, which includes an annual fee and stock options, along with an indemnification agreement to cover all expenses related to her duties. These agreements are detailed in Exhibits 10.1 and 10.2 of the company's current report filed with the SEC.