Company: HFFG
Filing Date: 2025-03-17
Form Type: 10-K
Source: 0001680873-25-000006
Chunk: 117

Company: HF Foods Group Inc.
Filing Date: 2025-03-17
Form: 10-K
Item: Item 8
Chunk 117
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 31, 2024, the Company had 619,932 time-based vesting restricted stock units (“RSUs”) unvested, 579,075 performance-based restricted stock units (“PSUs”) unvested, and 1,169,943 shares of common stock vested leaving 4,631,050 shares remaining available for future awards under the 2018 Incentive Plan. RSUs granted to employees vest over time based on continued service (vesting over a period between one to three years in equal installments). PSUs granted to employees vest based on (i) the attainment of certain financial metrics, as defined by the Company’s compensation committee (“Financial PSUs”) and (ii) for the 2021 grants, total shareholder return of the Company’s common stock (“TSR PSUs”). Both types of PSUs vest over three years in equal installments based on the performance metrics established for each year and also require continued service for vesting.A summary of RSU and PSU activity for the year ended December 31, 2024 is as follows:SharesWeighted Average Grant Date Fair ValueUnvested RSUs at January 1, 2024810,944 $4.43 Granted665,427 3.52 Forfeited(445,286)3.87 Vested(411,153)4.67 Unvested RSUs at December 31, 2024619,932 3.70 SharesWeighted Average Grant Date Fair ValueUnvested PSUs at January 1, 2024665,932 $4.23 Granted626,591 3.55 Forfeited(485,880)3.98 Vested(227,568)4.23 Unvested PSUs at December 31, 2024579,075 3.71 

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The weighted-average grant date fair value per share of RSUs granted during the years ended December 31, 2024, 2023, and 2022 was $3.52, $3.86 and $5.04, respectively. The weighted-average grant date fair value per share of PSUs granted during the years ended December 31, 2024, 2023 and 2022 was $3.55, $3.86 and $4.76, respectively. The total fair value of equity based awards that vested during the years ended December 31, 2024,