Company: HFFG
Filing Date: 2025-04-25
Form Type: DEF 14A
Source: 0001680873-25-000022
Chunk: 30

Company: HF Foods Group Inc.
Filing Date: 2025-04-25
Form: DEF 14A
Chunk 30
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 due beginning December 1, 2024 and continuing through the first day of each calendar month until the maturity date of October 31, 2025. Interest income was $308 for the year ended December 31, 2024

Accounts Payable - Related Parties

All the accounts payable to Related Parties are payable upon demand without interest. Below is a summary of accounts payable with related parties recorded as of December 31, 2024:

|     |     | (In thousands)                                                     |     | December 31, 2024 |    |
|:----|:----|:-------------------------------------------------------------------|:----|:------------------|---:|
| (a) |     | Conexus Food Solutions (formerly known as Best Food Services, LLC) |     | $                 | 35 |
| (b) |     | Ocean Pacific Seafood Group, Inc.                                  |     |                   |  2 |
| (b) |     | Rainfield Ranches, LP                                              |     |                   | 15 |
|     |     | Total                                                              |     | $                 | 52 |

_______________

(a) An equity interest is held by three Irrevocable Trusts for the benefit of Mr. Zhang's children.

(b) Mr. Zhou Min Ni owns an equity interest in this entity.

Employment Matters

Jamie Lam, Mr. Zhou Min Ni’s sister-in-law, has been employed by the Company since 2019, currently in the role of General Manager of the Company’s Ocala, Florida, Greensboro, North Carolina, and Atlanta, Georgia distribution centers. In 2024, Ms. Lam earned total cash and non-cash compensation of $728,761. Billy Zhang, the brother of our director Mr. Peter Zhang, is the manager of Min Food, Inc., a subsidiary of the Company, and has held this role since December 15, 2015. In 2024, Mr. Billy Zhang earned total cash and non-cash compensation of $164,149.

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Procedures with Respect to Review and Approval of Related Party Transactions

The Special Transactions Committee of our Board of Directors is responsible for assisting our Board of Directors in the oversight, monitoring, and advance written approval of transactions between the Company (including any of its subsidiaries) and Related Parties (as defined in Item 404 of Regulation S-K) or any entities in which a Related Party has a direct or indirect material interest. Under the Special Transactions Committee Charter