Company: HFFG
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001680873-25-000022
Chunk: 48

Company: HF Foods Group Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 48
---
 to their respective offer letters, Mr. Lin and Ms. Yao received certain relocation benefits.

Each NEO is also eligible for severance benefits under the Severance Plan, as described in the Severance Plan section below.

Mr. Rodriguez’s Departure

On February 12, 2024, Mr. Rodriguez went on a leave of absence and, effective April 8, 2024, Mr. Rodriguez departed from the Company. Mr. Rodriguez received severance benefits under the Severance Plan, as described in the Severance Plan section below.

<div align='center'>27</div>

Mr. Zhang’s Departure

On October 24, 2024, Mr. Zhang departed from his role as Chief Executive Officer of the Company, effective immediately. Mr. Zhang received severance benefits under the Severance Plan, as described in the Severance Plan section below.

Defined Contribution Retirement Plan

The Company maintains a defined contribution retirement plan, the HF Foods Group, Inc. Employees 401(k) Savings Plan, which is described in more detail in Note 15 - Employee Benefit Plan to the Company’s audited consolidated financial statements disclosed in this Annual Report on Form 10-K. The Company matches 100% of the first 3% of the participant’s deferred compensation plus 50% of the amount contributed between 3% and 5% of the participant’s deferred compensation, all subject to any applicable limitations under the Internal Revenue Code.

Severance Plan

The Severance Plan provides for the payment of severance and other benefits to eligible employees in the event of an involuntary termination of employment with the Company other than for Cause (as defined in the Severance Plan) or other disqualifying circumstances, or upon resignation for Good Reason, as defined in the Severance Plan. The Severance Plan is comprised of a plan with general terms and “severance plan policy” attachments, which detail the specific terms of severance for (i) the Chief Executive Officer, (ii) “Key Executives” other than the Chief Executive Officer (which the Severance Plan defines as the Chief Financial Officer, Chief Operating Officer, General Counsel, Chief Compliance Officer, each individual classified as Executive Vice President by the Company and each other executive officer of the Company designated a Key Executive by a committee comprised of the Chief Executive Officer, Chief Financial Officer and Chief Operating Officer), and (iii) employees classified as Senior Vice Presidents or Vice Presidents (the “SVP and VP” policy).

In the event of a qualifying termination and subject to