Traeger Inc SEC Filings

Traeger, Inc. Chief Financial Officer Michael Joseph Hord reported routine tax-related share dispositions tied to equity compensation. On April 6, 2026, 548 shares of Common Stock were withheld at $30.68 per share to cover tax obligations from vesting Restricted Stock Units. On April 8, 2026, a further 598 shares were withheld at $31.93 per share for the same purpose. These F-code transactions reflect shares withheld by the company for taxes, not open-market sales, and Hord directly held 15,055 shares of Common Stock following the latest transaction.

Traeger, Inc. reported a compensation decision by its Board of Directors related to 2025 performance. The Board determined that the performance goals under the company’s 2025 annual cash incentive program were not achieved, so no payments will be made to the named executive officers under that program.

Despite this, the Board approved discretionary cash bonuses for the top executives to recognize their contributions in 2025 and support retention. Chief Executive Officer Jeremy Andrus will receive a cash bonus of $956,250, and Chief Financial Officer Michael Joseph (Joey) Hord will receive $270,938.

Traeger, Inc. approved and implemented a 1-for-50 reverse stock split of its common stock, effective March 17, 2026 at 5:00 p.m. Eastern Time. Every 50 previously issued and outstanding shares automatically converted into one new share of common stock.

The common stock began trading on a split-adjusted basis on the New York Stock Exchange on March 18, 2026 under the existing symbol COOK, with a new CUSIP number 89269P202. The amendment did not change the total number of authorized shares or the par value per share, and holders entitled to fractional shares will receive cash in lieu of those fractions.

Traeger, Inc. has approved a 1-for-50 reverse stock split of its common stock after stockholder authorization of a 1-for-10 to 1-for-50 range on March 2, 2026. The board set the final 1-for-50 ratio on March 12, 2026.

The reverse split is intended to increase the per-share trading price, broaden appeal to institutional investors, enhance liquidity, reduce stock price volatility, and help the company regain compliance with the New York Stock Exchange’s minimum share price requirement under Section 802.01C.

The split is expected to become effective at 5:00 p.m. Eastern Time on March 17, 2026, with split-adjusted trading on the NYSE under the symbol “COOK” starting March 18, 2026, using new CUSIP 89269P202. Fractional shares will not be issued; instead, holders will receive cash based on the split-adjusted NYSE closing price on March 17, 2026.

Traeger, Inc.'s Chief Sales Officer Cole VandenAkker filed an initial ownership report showing holdings of 1,363,243 shares of the company’s common stock. This is a Form 3 filing, which records existing ownership rather than a new trade.

The position includes 476,890 restricted stock units (RSUs), each representing the right to receive one share of common stock as they vest under the terms of the underlying awards. The filing does not reflect any recent purchases or sales, but instead establishes the executive’s equity stake, combining time-based RSUs and other directly held common shares.

Traeger, Inc. received a notice from the New York Stock Exchange on March 5, 2026 that it is out of compliance with Section 802.01C because its common stock’s average closing price was below $1.00 over a consecutive 30 trading-day period ended March 4, 2026.

The notice does not immediately affect listing, and Traeger has a six‑month cure period in which its stock must close at or above $1.00 and maintain a 30‑day average of at least $1.00 to regain compliance. The company’s shares will continue trading on the NYSE during this period, assuming compliance with other listing standards.

To help address the low share price, stockholders approved a reverse stock split at a special meeting on March 2, 2026, authorizing the board to select a ratio between 1‑for‑10 and 1‑for‑50. The board will decide whether and when to implement the split, which would require filing an amendment to the certificate of incorporation.

Traeger, Inc. reports another challenging year, combining continued growth investments with a major restructuring. The wood-pellet grill maker positions itself as category leader, with an estimated 78 million U.S. grill households, about 2.7 million Traeger grills sold from 2020–2025, and roughly 3.4% household penetration. Its connected platform includes 2.8 million active Traeger app users as of December 31, 2025 and revenue split across grills, consumables, and accessories, which represented 53.3%, 22.8%, and 24.0% of 2025 revenue, respectively.

Traeger launched Project Gravity in 2025, a multi-step optimization plan with workforce reductions, channel exits (including Costco roadshows and most direct-to-consumer sales), European distribution shifts, and pellet mill consolidation, recording $24.9 million of related restructuring and other costs and targeting substantial completion by the end of fiscal 2026. The company generated a 7.4% year-over-year revenue decline in 2025, a net loss of $115.2 million, and an accumulated deficit of $804.1 million as of year-end. Customer concentration remains high, with its three largest retailers contributing 29%, 14%, and 8% of 2025 revenue.

Management highlights intense competition across outdoor cooking categories, exposure to U.S. trade policy and tariffs as approximately 80% of grills are manufactured in China, and operational and legal risks tied to product quality, product liability, and evolving environmental and climate regulations. As of March 3, 2026, Traeger had 137,251,532 common shares outstanding.

Traeger, Inc. reported weaker 2025 results and expanded its cost‑cutting program. Fourth quarter revenue fell 13.8% to $145.4 million, with a net loss of $17.2 million, while adjusted EBITDA inched up to $19.4 million. For full year 2025, revenue declined 7.4% to $559.5 million and net loss widened to $115.2 million, driven in part by a non‑cash $74.7 million goodwill impairment. Adjusted EBITDA was $70.0 million and free cash flow was $13.6 million.

The company is executing “Project Gravity” to streamline operations. It now expects total pre‑tax charges of $32.0–$36.0 million, primarily consulting, severance, and supplier and inventory costs, and annualized pre‑tax savings of about $64–$70 million, including $6–$12 million from product simplification. Cash was $19.6 million and inventory $98.8 million as of December 31, 2025. For 2026, Traeger guides revenue to $465–$485 million, gross margin of 38.0–39.0%, adjusted EBITDA of $50–$60 million, and free cash flow of at least $30 million, excluding potential impacts from recently implemented or proposed tariffs.

Traeger, Inc. reports that it has regained compliance with the New York Stock Exchange’s minimum share-price listing requirement. The NYSE notified the company on February 3, 2026 that its common stock again meets Section 802.01C because the closing price was above $1.00 on January 30, 2026 and the 30‑trading‑day average closing price ending that day also exceeded $1.00. This follows a prior NYSE notice on November 19, 2025 that the stock had traded below the $1.00 threshold for 30 consecutive trading days. The company still plans to seek stockholder approval for a reverse stock split at the Board’s discretion, as outlined in a definitive proxy statement filed on January 26, 2026.