As filed with the Securities and Exchange Commission on October 19, 2021
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
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| Item 8.01. | Other Events. |
On October 13, 2021, the Board of Directors of B&G Foods, upon the recommendation of the Board’s compensation committee, approved a one-time grant of stock options for shares of our company’s common stock with a grant date Black-Scholes value of $375,000 to David L. Wenner, who currently serves as a non-employee director of B&G Foods, to reward Mr. Wenner for his service as interim President and Chief Executive Officer of B&G Foods from mid-November 2020 to mid-June 2021. Pursuant to the approval, 80,681 options, which vested immediately, were granted to Mr. Wenner on October 15, 2021. The Board also approved Mr. Wenner’s participation in B&G Foods’ annual bonus plan for fiscal 2021. Subject to the achievement of company-wide adjusted EBITDA performance objectives, Mr. Wenner will be eligible to receive a cash bonus award ranging from 25% (at threshold) to 100% (at target) to 200% (at maximum) of his base salary as interim President and Chief Executive Officer. Mr. Wenner’s cash bonus award, if any, will be pro-rated based upon the portion of 2021 that he served as an employee of B&G Foods.
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SIGNATURE
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.
| B&G FOODS, INC. | ||
| Dated: October 19, 2021 | By: | /s/ Scott E. Lerner |
| Scott E. Lerner | ||
| Executive Vice President, | ||
| General Counsel and Secretary | ||
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