UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 30, 2023 (
(Exact name of Registrant as Specified in Its Charter)
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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:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Securities registered pursuant to Section 12(b) of the Act:
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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. ☐
ITEM 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers |
As previously announced on a Current Report on Form 8-K filed with the Securities and Exchange Commission on June 12, 2023, John B. Sanfilippo & Son, Inc. (the “Company”) announced the elimination of the position of Executive Vice President, Sales and Marketing, as of June 29, 2023. In connection with the elimination of this position, on June 27, 2023, the Company entered into a Separation Benefits and General Release Agreement with Shayn E. Wallace (the “Agreement”).
Pursuant to the Agreement, Mr. Wallace’s last day with the Company was June 29, 2023. In exchange for certain customary releases to the Company and entering into customary restrictive covenants with the Company, Mr. Wallace will receive a separation payment of $310,000 and six months of employer contributions to health insurance premiums under the Consolidated Omnibus Reconciliation Act (COBRA).
The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Agreement, which is attached as Exhibit 10.1 to this Current Report on Form 8-K and incorporated by reference herein.
Item 9.01 | Financial Statements and Exhibits. |
(d) | Exhibits |
The exhibits furnished herewith are listed in the Exhibit Index of this Current Report on Form 8-K.
EXHIBIT INDEX
Exhibits |
Description | |
10.1 | Separation Benefits & General Release Agreement, effective June 29, 2023, between John B. Sanfilippo & Son, Inc. and Shayn E. Wallace | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |
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.
JOHN B. SANFILIPPO & SON, INC. | ||||||
Date: June 30, 2023 | By: | /s/ Frank S. Pellegrino | ||||
Frank S. Pellegrino Chief Financial Officer, Executive Vice President Finance and Administration |