Company: HFFG
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001680873-25-000022
Chunk: 53

Company: HF Foods Group Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 53
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 Zhang departed from his role as Chief Executive Officer of the Company effective October 24, 2024, and therefore the potentially payable severance or other benefits no longer apply to them. In connection with Mr. Rodriguez’s departure, the Company entered into a Separation Agreement with Mr. Rodriguez on May 31, 2024. Under the Separation Agreement Mr. Rodriguez was entitled, subject to his non-revocation of a general release of claims in favor of the Company, to payments from the Company in an amount equal to Mr. Rodriguez’s annual base salary of $400,000. In connection with Mr. Zhang’s departure, the Company entered into a Severance Agreement and General Release with Mr. Zhang on November 21, 2024. Pursuant to the Severance Agreement and General Release, which includes a general release of claims by Mr. Zhang against the Company, Mr.

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Zhang will receive standard severance benefits provided to a Chief Executive Officer under the Company’s Amended and Restated Severance Plan, which consists of payment of base salary multiplied by two, totaling $1.35 million, and payment of COBRA premiums, for up to 12 months.

For equity awards granted in 2023 and prior, in the event of a change in control, all unvested equity awards will accelerate in vesting. For equity awards granted in 2024, unvested equity awards will accelerate in vesting in the event of a termination by the Company without cause within twelve months following a change in control. In the event of a termination without a change in control, the number of shares of common stock subject to RSU awards that vest shall be determined by the Compensation Committee.

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CHANGE IN CONTROL AND SEVERANCE PAYMENTS AS OF DECEMBER 31, 2024</div>

| Termination without Cause - No Change of Control                                               |     | Xi “Felix” Lin |           |     | Cindy Yao |         |     | Christine Chang |           |
|:-----------------------------------------------------------------------------------------------|:----|:---------------|----------:|:----|:----------|--------:|:----|:----------------|----------:|
| Salary Continuation                                                                            |     | $              |   495,000 |     | $         | 187,500 |     | $               |   375,000 |
| Benefits Continuation                                                                          |     | $              |    29,641 |     |