# EDGAR Filing Document

**Accession Number:** 0001041803
**File Stem:** 0001041803-23-000013
**Filing Date:** 2023-2
**Character Count:** 5744
**Document Hash:** 83fdcdb678956b1d9cf02c0edb064f62
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001041803-23-000013.hdr.sgml**: 20230201

**ACCESSION NUMBER**: 0001041803-23-000013

**CONFORMED SUBMISSION TYPE**: 8-K/A

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20221208

**ITEM INFORMATION**: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20230201

**DATE AS OF CHANGE**: 20230201

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** PRICESMART INC
- **CENTRAL INDEX KEY:** 0001041803
- **STANDARD INDUSTRIAL CLASSIFICATION:** RETAIL-VARIETY STORES [5331]
- **IRS NUMBER:** 330628530
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** 8-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-22793
- **FILM NUMBER:** 23576811

**BUSINESS ADDRESS:**
- **STREET 1:** 9740 SCRANTON ROAD
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92121
- **BUSINESS PHONE:** 8584048800

**MAIL ADDRESS:**
- **STREET 1:** 9740 SCRANTON ROAD
- **CITY:** SAN DIEGO
- **STATE:** CA
- **ZIP:** 92121

?xml version="1.0" encoding="utf-8"? psmt-20221208x8ka

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 8-K/A**

**(Amendment No. 1)**

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): December 8, 2022

## PriceSmart, Inc.
**(Exact name of registrant as specified in its charter)**

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| | | |
|:---|:---|:---|
| **Delaware** | **000-22793** | **33-0628530**  |
| **(State or Other Jurisdiction of**<br>**Incorporation)** | **(Commission File Number)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

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| |
|:---|
| **9740 Scranton Road**  |
| **San Diego, CA 92121** |
| **(Address of principal executive offices and zip code)** |

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Registrant's telephone number, including area code: **(858) 404-8800**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

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| |
|:---|
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2)(b)) |
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |

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**Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:**

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| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol** | **Name of each exchange on which registered** |
| **Common Stock, $0.0001 par value**  | **PSMT**  | **NASDAQ Global Select Market**  |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

‎

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**Explanatory Note**

PriceSmart, Inc. (the "Company") is filing this Amendment No. 1 to Form 8-K to report that on January 26, 2023 the Compensation Committee of the Board of Directors of the Company approved increased compensation for John D. Hildebrandt in connection with his previously announced promotion to President and Chief Operating Officer.

**ITEM 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers**

(c)<u>Appointment of President</u>

PriceSmart, Inc., a Delaware corporation ("PriceSmart" or the "Company"), previously announced that John D. Hildebrandt had been appointed President and Chief Operating Officer, effective December 9, 2022. On January 26, 2023, the Compensation Committee of the Board of Directors of the Company approved increased compensation for Mr. Hildebrandt associated with his promotion from Executive Vice President and Chief Operating Officer to President and Chief Operating Officer, retroactive to December 9, 2022. Under his increased compensation, Mr. Hildebrandt's salary increased to $850,000 per year, with a target annual cash incentive award of $638,000 and an annual equity incentive award equal to $1.5 million. The Company plans to further amend and restate Mr. Hildebrandt's Amended and Restated Employment Agreement to reflect these terms.

**ITEM 9.01. Exhibits.**

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| | | |
|:---|:---|:---|
| (d) | The following exhibit is furnished herewith: | The following exhibit is furnished herewith: |
| **Exhibit<br>‎No.** |  | **Description** |
| 104 |  | The cover page from this Current report on Form 8-K, formatted in Inline XBRL. |

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 ***‎*** 

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

**PriceSmart, Inc.**

By:<u>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; /s/ FRANCISCO VELASCO&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</u> 

Francisco Velasco

Executive Vice President, General Counsel and Secretary

Date:February 1, 2023