Company: HFFG
Filing Date: 2025-07-07
Form Type: 8-K
Source: 0001628280-25-034429
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Company: HF Foods Group Inc.
Filing Date: 2025-07-07
Form: 8-K
Item: Item 5.02
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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.

Adoption of Amended and Restated Executive Severance Plan

On July 1, 2025, the board of directors (the “ Board”) of HF Foods Group Inc. (the “ Company”) adopted and approved the Amended and Restated HF Foods Group Inc. Severance Plan (the “ Severance Plan”), effective July 1, 2025, which amends and restates, in its entirety, the severance plan previously approved by the Board of the Company on December 30, 2022. The Severance Plan is for employees of the Company at the level of Vice President or above, including the Company’s Senior Vice Presidents ("SVPs") and other executive officers. Generally, the Severance Plan provides for severance payments to certain executives and employees eligible to participate on a termination of employment without “cause” (as defined in the Severance Plan) or by the individual for “good reason” (as defined in the Severance Plan), with different severance payments depending on the title of the individual and whether or not the termination occurring during the period beginning six months before through 12 months after a “change in control” (as defined in the Severance Plan).

The changes effected by the amendment and restatement of the Severance Plan were, among other things:

• Removing an exception from a “change in control” event where a majority of the members of the board of directors of the entity resulting from a “business combination” (as defined in the Severance Plan) were members of the “incumbent board” (as defined in the Severance Plan) at the time of the initial agreement or action providing for such business combination.