{"url_path":"/sec/groo/8-k/2026-05-13/item-5-02","section_key":"item-5-02","section_title":"Item 5.02 ****DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-05-13","source_url":"https://www.sec.gov/Archives/edgar/data/1499275/0001499275-26-000007-index.html","accession_number":"0001499275-26-000007","cik":"0001499275","ticker":"GROO","issuer_name":"GROOVY COMPANY, INC.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1499275/0001499275-26-000007-index.html","primary_entity_key":"0001499275","primary_entity_name":"GROOVY COMPANY, INC."},"word_count":542,"has_tables":true,"body_markdown":"**ITEM 5.02****DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS.** \n\n \n\n**(b)****Departure of Officers and Directors.** \n\n \n\n**Departure of Berj Abajian as Chief Executive Officer and Director.**\n\n \n\nEffective May 1, 2026, Berj Abajian ceased to serve as the Chief Executive Officer of Groovy Company, Inc. (the “Company”) and as a member of the Company’s Board of Directors. Prior to his departure, Mr. Abajian served as the Company’s principal executive officer, principal financial officer, and principal accounting officer, and was identified as such in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and in the Company’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2025.\n\n \n\nMr. Abajian’s departure from each of his positions with the Company was the result of action by the Company and was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices.\n\n4\n\n \n\n**Departure of Jeffrey D. Turner as Chief Legal Officer.**\n\n \n\nEffective May 1, 2026, Jeffrey D. Turner ceased to serve as the Company’s Chief Legal Officer. Mr. Turner’s departure from his officer role was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. Following his departure from the officer role, JDT Legal, Mr. Turner’s firm, continues to provide legal services to the Company on an outside-counsel basis.\n\n \n\n**Departure of John Morgan as Vice President, Issuer Services.**\n\n \n\nEffective May 1, 2026, John Morgan ceased to serve as the Company’s Vice President, Issuer Services. Mr. Morgan was not a named executive officer of the Company within the meaning of Item 402(a)(3) of Regulation S-K and was not subject to the reporting requirements of Section 16 of the Securities Exchange Act of 1934. Mr. Morgan’s departure was not the result of any disagreement with the Company on any matter relating to the Company’s operations, policies, or practices. The Company is making this disclosure on a voluntary basis.\n\n \n\n**(c)****Appointment of Interim Chief Executive Officer.** \n\n \n\nEffective May 1, 2026, the Company’s Board of Directors appointed Franjose (“Frank”) Yglesias to serve as Interim Chief Executive Officer of the Company, in addition to his continuing roles as Chief Technology Officer. Mr. Yglesias is expected to continue in the interim role until a permanent Chief Executive Officer is identified and appointed by the Board of Directors.\n\n \n\n**Biographical Information - Franjose Yglesias.**\n\n \n\nFranjose Yglesias, age 62, is a co-founder of Groovy Company, Inc. and has served as the Company’s Chief Technology Officer since July 1, 2025. Effective May 1, 2026, Mr. Yglesias was appointed Interim Chief Executive Officer, as further described above in this Item 5.02. Mr. Yglesias has more than thirty-five years of software development experience, including extensive blockchain development across multiple international projects, and is the chief architect of the Company’s tokenization platform. Mr. Yglesias also serves as Chief Executive Officer and Chairman of the Board of Directors of Pineapple Express Cannabis Company (OTC Markets: PNXP), a reporting company under the Securities Exchange Act of 1934.\n\n \n\nFamily Relationships. There are no family relationships, within the meaning of Item 401(d) of Regulation S-K, between Mr. Yglesias and any other director or executive officer of the Company."}