HF Foods Group Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$HFFG
Food Distributors
Consumer Discretionary
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 31, 2024
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
As previously disclosed, effective April 8, 2024, Carlos Rodriguez departed from his role as Chief Financial Officer of HF Foods Group Inc. (the “Company”). In connection with Mr. Rodriguez’s departure, the Company entered into a Separation Agreement (the “Separation Agreement”) with Mr. Rodriguez on May 31, 2024 (the “Effective Date”). Under the Separation Agreement Mr. Rodriguez will be entitled, subject to his non-revocation of a general release of claims in favor of the Company, to payments from the Company (i) in an amount equal to Mr. Rodriguez’s annual base salary of $400,000, to be paid out in three equal installments between a date that is within ten days of the Effective Date and January 15, 2025, and (ii) in an amount equal to 70% of Mr. Rodriguez’s annual base salary to be paid out in a lump sum within 14 calendar days of the Effective Date. Mr. Rodriguez will also be entitled to certain outstanding restricted stock units and performance stock units granted to Mr. Rodriguez which were scheduled to vest on April 15, 2024.
The foregoing description of the terms and conditions of the Separation Agreement does not purport to be complete and is qualified in its entirety by the full text of the Separation Agreement, a copy of which is attached hereto as Exhibit 10.1 and incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit Number | Description of Exhibits | ||||
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL) | ||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| HF FOODS GROUP INC. | ||||||||
| Date: June 5, 2024 | /s/ Cindy Yao | |||||||
| Cindy Yao | ||||||||
| Chief Financial Officer | ||||||||