Company: HFFG
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001680873-25-000022
Chunk: 41

Company: HF Foods Group Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 41
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-determined goals. The performance metrics for the PSUs granted in 2024 for each of the three year performance periods is as follows: (i) for fiscal year 2024, in order to vest at 100%, the Company must have achieved a revenue of $1.155 billion, which represents 1% growth, and must have achieved an Internal Adjusted EBITDA

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of 4.33% of revenue; (ii) for fiscal year 2025, in order to vest at 100%, the Company must achieve a revenue of $1.190 billion, which represents 3% growth, and must have an Internal Adjusted EBITDA of 4.5% of revenue; and (iii) for fiscal year 2026, in order to vest at 100%, the Company must achieve a revenue of $1.231 billion, which represents 3.5% growth, and must have an Internal Adjusted EBITDA of 5.0% of revenue. Vesting of the PSUs is cumulative over the performance periods, and a metric not satisfied in the applicable performance period may be satisfied in a future period.

The Company’s NEOs grant of RSUs and potential grant of PSUs are calculated as a percentage of the individual NEO’s salary as listed below.

| Name                   |     | RSU Grant as     
 % of Base Salary |     | Max PSU Grant as 
 % of Base Salary |     | $ Total Amount |           |
| Xiao Mou “Peter” Zhang |     | 75%              |     | 75%              |     |                | 1,012,500 |
| Xi “Felix” Lin         |     | 50%              |     | 50%              |     |                |   495,000 |
| Cindy Yao              |     | 50%              |     | 50%              |     |                |   375,000 |
| Christine Chang        |     | 50%              |     | 50%              |     |                |   375,000 |

(1) Mr. Zhang’s employment as CEO was terminated effective October 24, 2024. All unvested equity attributed to Mr. Zhang was forfeited.

For fiscal year 2024, the Company achieved a vesting percentage of 87.5%, 85.4% and 94.6% for the PSU tranches that vested April 15,