Company: HFFG
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001680873-25-000022
Chunk: 39

Company: HF Foods Group Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 39
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 of material weaknesses, restructuring and redesigning the finance and accounting group, and reducing the finance and accounting related professional fees. For Ms. Chang, the individual initiatives included reducing the number of material weaknesses, performing a risk assessment on the Company’s distribution centers, and reducing outside counsel legal expenditures. With respect to the individual initiative-based targets, the Compensation Committee determined that Mr. Lin, Ms. Yao, and Ms. Chang each achieved 2.5 of 3 of their individual initiative-based targets. The combined results of 2024 financial

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performance and individual initiative-based targets for each NEO resulted in 91% achievement of target cash incentive for each NEO, except for Mr. Zhang. Based on their target annual bonus percentages and the terms of the AIP, the NEOs had the opportunity to receive the cash awards shown below for fiscal year 2024.

|                           |     | 2024 AIP              
 Target Award          |     |          |     | 2024 AIP     
 Actual Award |     |          |
| Name                      |     | % of Base Salary Rate |     | $ Amount |     | % of Target  |     | $ Amount |
| Xiao Mou “Peter” Zhang(1) |     | 125%                  |     |  675,000 |     | —%           |     |        — |
| Xi “Felix” Lin(2)         |     | 100%                  |     |  495,000 |     | 107%         |     |  529,791 |
| Cindy Yao(3)              |     | 100%                  |     |  375,000 |     | 61%          |     |  227,500 |
| Christine Chang           |     | 100%                  |     |  375,000 |     | 91%          |     |  341,250 |

(1) Mr. Zhang’s employment as CEO was terminated effective October 24, 2024. AIP achievement was 0%.

(2) Mr. Lin’s bonus target was modified by the Compensation Committee to the CEO level for the three month Mr. Lin served as Interim CEO. The actual AIP achievement of 107% of target represents 91% achievement of nine months of President and three months of CEO.

(3) Ms. Yao’s bonus payout was prorated to reflect the portion of the year in which she was employed by the Company