HF Foods Group Inc. filed a Current Report on Form 8-K on September 28, 2026, detailing several executive compensation and employment changes. The company entered into an amended and restated employment agreement with Chief Executive Officer Felix Lin. Additionally, the company established new employment agreements with Chief Financial Officer Paul McGarry and Chief Administrative Officer Christine Chang.
The amended CEO agreement modifies severance terms, stating that non-renewal by the company will qualify as a termination entitling Mr. Lin to severance benefits. The agreement also changes the pro-rata current year bonus eligibility date from June 30 to March 31 in the event of a qualifying termination. The new agreements for Mr. McGarry and Ms. Chang maintain their prior compensation terms and mirror the amended CEO agreement, with the exception that their initial terms are set for one year.
Separately, the Compensation Committee approved an amendment to the Severance Plan to include target bonus in severance benefits for the Chief Executive Officer. The committee also approved amendments to Restricted Stock Unit (RSU) and Performance Share Unit (PSU) awards under the 2018 Omnibus Incentive Plan. These Equity Award Amendments adjust the vesting date for RSU and PSU grants from April 15 to March 17 and extend the change in control protection period from 12 months to 24 months. Other provisions include full acceleration of unvested awards upon death or disability and pro-rata PSU payment based on actual performance upon a qualifying non-change in control termination.
