Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. Departure of Gary Vecchiarelli and Appointment of Marc Lasry to Board of Directors On September 11, 2026, Gary Vecchiarelli notified the Board of Directors (the “Board”) of Firy Inc.…
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Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Departure of Gary Vecchiarelli and Appointment of Marc Lasry to Board of Directors
On September 11, 2026, Gary Vecchiarelli notified the Board of Directors (the “Board”) of Firy Inc. (the “Company”) of his intent to resign from the Board, including as a director, member of the Audit Committee of the Board and member of the Compensation Committee of the Board, effective as of October 1, 2026. Mr. Vecchiarelli’s resignation is not due to any disagreement with the Company on any matter relating to the Company’s operations, policies or practices. Upon the recommendation of the Nominating and Corporate Governance Committee of the Board, on September 12, 2026, the Board appointed Marc Lasry to fill the resulting Board vacancy, to be effective as of October 1, 2026. Mr. Lasry has not been appointed to any committee of the Board.
Mr. Lasry is the Chairman, Chief Executive Officer and Co-Founder of Avenue Capital Group, a global investment firm he co-founded in 1995. Credit investing has been the focus of Mr. Lasry’s professional career for more than 42 years. Before co-founding Avenue Capital Group, Mr. Lasry managed capital for Amroc Investments, L.P., served as Co-Director of the Bankruptcy and Corporate Reorganization Department at Cowen & Company and served as Director of the Private Debt Department at Smith Vasiliou Management Company. Mr. Lasry also practiced bankruptcy law at Angel & Frankel and clerked for the Honorable Edward Ryan, former Chief Bankruptcy Judge for the Southern District of New York. Mr. Lasry holds a B.A. in History from Clark University and a J.D. from New York Law School.
The Board affirmatively determined that Mr. Lasry is an independent director under the applicable rules of the New York Stock Exchange. There is no arrangement or understanding between Mr. Lasry and any other person pursuant to which Mr. Lasry was appointed as a director. Furthermore, there are no family relationships between Mr. Lasry and any other director or executive officer of the Company and there are no transactions between Mr. Lasry and the Company that would be required to be reported under Item 404(a) of Regulation S-K.
Mr. Lasry will receive compensation consistent with the Company’s compensation program for non-employee directors, as described in the Company’s proxy statement filed with the U.S. Securities and Exchange Commission on April 30, 2026.
In connection with his appointment, Mr. Lasry will enter into a standard indemnification agreement with the Company in the form previously approved by the Board.
On September 15, 2026, the Company issued a press release announcing the appointment of Mr. Lasry to the Company’s Board, effective October 1, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
