Company: SENEA
Filing Date: 2025-06-27
Form Type: 11-K
Source: 0001437749-25-021427
Chunk: 11

Company: Seneca Foods Corp
Filing Date: 2025-06-27
Form: 11-K
Chunk 11
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 TERMINATION

Although it has not expressed any intent to do so, the Company has the right under the Plan to discontinue its contributions at any time and/or to terminate the Plan subject to the provisions of ERISA. In the event of Plan termination, participants would become 100% vested in their employer contributions. Any unallocated assets of the Plan shall be allocated to participant accounts and distributed in such a manner as the Company may determine.

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SENECA FOODS CORPORATION EMPLOYEES' SAVINGS PLAN

NOTES TO FINANCIAL STATEMENTS

NOTE 7 - RECONCILIATION OF FINANCIAL STATEMENTS TO SCHEDULE H OF FORM 5500

The following is a reconciliation of net assets available for benefits per the financial statements to Form 5500:

|                                                                |     | December 31, |        2024 |   |     |   |        2023 |   |
|:---------------------------------------------------------------|:----|:-------------|------------:|:--|:----|:--|------------:|:--|
| Net assets available for benefits per the financial statements |     | $            | 258,072,934 |   |     | $ | 233,238,920 |   |
| Investments                                                    |     |              |   3,117,095 |   |     |   |   2,147,422 |   |
| Notes receivable from participants                             |     |              |  (3,117,095 | ) |     |   |  (2,147,422 | ) |
| Net assets available for benefits per the Form 5500            |     | $            | 258,072,934 |   |     | $ | 233,238,920 |   |

NOTE 8 - RELATED PARTY AND PARTY-IN-INTEREST TRANSACTIONS

The group annuity contract is managed by Empower. Empower is also the third-party administrator and recordkeeper for the Plan and, therefore, these transactions qualify as party-in-interest transactions. Certain Plan investments are shares of collective investment trusts managed by Cota Street Investment Management and, therefore, these transactions qualify as party-in-interest transactions. World Investment Advisors LLC serves as the investment advisor to the Plan and, therefore, these transactions qualify as party-in-interest transactions. Additionally, a portion of the Plan’s assets are investments in the Seneca Foods Corporation Employer Stock Fund. As the Company is the Plan sponsor, transactions involving the