Company: HFFG
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001680873-25-000022
Chunk: 32

Company: HF Foods Group Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 32
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 appointed to serve as Interim Chief Executive Officer, and continued to serve as the Company’s Chief Operating Officer and President through December 31, 2024. On December 17, 2024, the Company appointed Mr. Lin to serve as President and Chief Executive Officer, effective January 1, 2025.

(3) Mr. Rodriguez served in this role until taking a leave of absence for personal reasons effective February 12, 2024; Mr. Rodriguez subsequently departed the Company on April 8, 2024.

(4) On April 22, 2024, the Company entered into an offer letter with Ms. Yao to serve as the Company’s Chief Financial Officer effective May 1, 2024.

In addition to the CD&A, the compensation and benefits provided to our NEOs in 2024 are set forth below in the Summary Compensation Table and other tables that follow this CD&A, as well as in the footnotes and narrative material that accompany those tables.

#### Executive Summary
The Company’s compensation program is designed to attract, retain, and motivate talented executives who contribute to the company's long-term success and stockholder value. Key highlights of our compensation program for fiscal year 2024 include:

• Alignment with Performance: Compensation is tied to performance, with a significant portion of executive pay being variable and performance based.

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• Pay-for-Performance: The Company emphasizes a pay-for-performance philosophy, where compensation is directly linked to the achievement of strategic objectives and financial performance metrics.

• Competitive Compensation: In 2024, the Compensation Committee retained the services of an independent compensation consultant to ensure that compensation levels are competitive in attracting and retaining top talent.

Accomplishments and Challenges for 2024 and First Quarter of 2025

In fiscal year 2024, we continued to execute upon our strategic transformation plan, making significant strides in our centralized purchasing program, particularly in the seafood category, as well as our fleet and transportation initiatives. Our digital supply chain and warehouse management system implementation is also proceeding apace, and we are on track to complete full implementation of our modern ERP platform by the end of 2025.

In fiscal year 2024, net revenue was $1,201.7 million in 2024, compared to $1,148.5 million in 2023, an increase of $53.2 million, or 4.6%. This increase was primarily attributable to volume growth associated with new wholesale accounts, case count