Company: HFFG
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001680873-25-000022
Chunk: 47

Company: HF Foods Group Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 47
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. The PSUs vest over a three-year period, with vesting to be earned, if at all, at the end of the three-year performance period based on the applicable NEO’s continuation in service through the end of the performance period and the attainment of pre-determined goals. The performance goals are described in the “Compensation Metrics” section within the Compensation Discussion and Analysis section above.

(2) Represents RSUs granted under the 2018 Plan. The RSUs vest over three equal annual installments on the first three anniversaries of the grant date and are subject to forfeiture in the event of NEO’s termination of service under specified circumstances.

(3) Amounts for the year ended December 31, 2024, reflect the full grant-date fair value of RSUs and PSUs granted during the year ended December 31, 2024, computed in accordance with ASC Topic 718, rather than the amounts paid to or realized by the NEO. The value of the PSUs set forth above is based on the probable outcome of the performance conditions on the grant date. We provide information regarding the assumptions used to calculate the value of all PSUs and RSUs granted to our NEOs in Note 14 to the consolidated financial statements included in in our Annual Report on Form 10-K for the year ended December 31, 2024.

#### Offer Letters
Ms. Chang, Mr. Lin, Mr. Rodriguez and Ms. Yao all entered into offer letters with the Company providing for at-will employment. The offer letters contain initial annual base salary information ($250,000 for Ms. Chang, $450,000 for Mr. Lin, $400,000 for Mr. Rodriguez and $375,000 for Ms. Yao) and target bonus percentages (75% of base salary for Ms. Chang, 100% of base salary for Mr. Lin, Mr. Rodriguez and Ms. Yao). As of May 11, 2023, the Company increased Ms. Chang’s base salary to $375,000 and increased her bonus payout target from 75% to 100%.

The offer letters all provide for participation in the 2018 Plan, with an equity award in the year employment commenced equal to: for Ms. Chang, Mr. Lin and Mr. Rodriguez, 50% of base salary in RSUs and 50% of base salary in PSUs. Mr. Lin received an additional grant of RSUs equal to $100,000 in 2022 after his start date.

Pursuant