<SEC-DOCUMENT>0001654954-20-004415.txt : 20200424
<SEC-HEADER>0001654954-20-004415.hdr.sgml : 20200424
<ACCEPTANCE-DATETIME>20200424163035
ACCESSION NUMBER:		0001654954-20-004415
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20200423
FILED AS OF DATE:		20200424
DATE AS OF CHANGE:		20200424

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			SIEGEL SEYMOUR
		CENTRAL INDEX KEY:			0001253065

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-38299
		FILM NUMBER:		20815474

	MAIL ADDRESS:	
		STREET 1:		91 CABOT COURT
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			cbdMD, Inc.
		CENTRAL INDEX KEY:			0001644903
		STANDARD INDUSTRIAL CLASSIFICATION:	PERFUMES, COSMETICS & OTHER TOILET PREPARATIONS [2844]
		IRS NUMBER:				473414576
		STATE OF INCORPORATION:			NC
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8845 RED OAK BOULEVARD
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28217
		BUSINESS PHONE:		704-445-3060

	MAIL ADDRESS:	
		STREET 1:		8845 RED OAK BOULEVARD
		CITY:			CHARLOTTE
		STATE:			NC
		ZIP:			28217

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Level Brands, Inc.
		DATE OF NAME CHANGE:	20170202

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEVEL BEAUTY GROUP, INC.
		DATE OF NAME CHANGE:	20150611
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>section16.xml
<DESCRIPTION>PRIMARY DOCUMENT
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2020-04-23</periodOfReport>

    <notSubjectToSection16>true</notSubjectToSection16>

    <issuer>
        <issuerCik>0001644903</issuerCik>
        <issuerName>cbdMD, Inc.</issuerName>
        <issuerTradingSymbol>YCBD</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001253065</rptOwnerCik>
            <rptOwnerName>SIEGEL SEYMOUR</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O 8845 RED OAK BOULEVARD</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>CHARLOTTE</rptOwnerCity>
            <rptOwnerState>NC</rptOwnerState>
            <rptOwnerZipCode>28217</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>true</isDirector>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2020-04-23</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>J</transactionCode>
                <equitySwapInvolved>false</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>6562500</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>2531</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>5.41</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2019-05-09</value>
            </exerciseDate>
            <expirationDate>
                <value>2029-05-09</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>20000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>20000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Option</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>3.34</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <value>2018-08-16</value>
            </exerciseDate>
            <expirationDate>
                <value>2028-08-16</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>7000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Pursuant to the terms of the Agreement and Plan of Merger (the &quot;Merger Agreement&quot;) dated December 3, 2018 by and between the Issuer, its wholly owned subsidiaries, and Cure Based Development, LLC which closed on December 20, 2018 (the &quot;Closing Date&quot;), an aggregate of 8,750,000 shares of the Issuer's common stock (the &quot;Second Tranche Shares&quot;) were issued to CBD Holding, LLC (&quot;CBDH&quot;) in April 2019 as partial consideration under the terms of the Merger Agreement.  Under the terms of the Merger Agreement the Second Tranche Shares were subject to a Voting Proxy Agreement pending the vesting of unrestricted voting rights, of which unrestricted voting rights to an aggregate of 2,187,500 shares vested on December 20, 2019.  Pursuant to the Voting Proxy Agreement, the voting rights to the shares of the Issuer's common stock for which unrestricted voting rights have not yet vested are held by the independent chairman of the Audit Committee of the Issuer's board of directors who will vote such shares on any matter brought before the Issuer's shareholders in accordance with the recommendation of its board of directors.  On February 26, 2020 in connection with its dissolution and liquidation and pursuant to the terms of a Distribution Agreement (the &quot;CBDH Distribution Agreement&quot;), CBDH distributed the Second Tranche Shares to its members on a pro rata basis.  On February 26, 2020, in connection with the CBDH Distribution Agreement, the CBDH members entered into similar Voting Proxy Agreements with the Issuer.  The Reporting Person previously served as chairman of the Audit Committee of the Issuer's board of directors.  The Reporting Person did not stand for re-election at the Issuer's 2020 annual meeting of shareholders held on April 23, 2020 and, accordingly, no longer serves on the Issuer's board of directors.  On April 23, 2020 Mr. William F. Raines, III was elected chairman of the Audit Committee of the Issuer's board of directors and has succeeded to the position of proxy holder under the Voting Proxy Agreements.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Seymour G. Siegel by Power of Attorney</signatureName>
        <signatureDate>2020-04-24</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
