HF Foods Group amends executive agreements and equity award terms

HF Foods Group Inc. (NASDAQ: HFFG) filed a Form 8-K on October 2, 2026, disclosing that the company entered into amended and restated employment agreements with its chief executives on September 28, 2026. The filing details changes to severance provisions, bonus eligibility dates, and equity award vesting schedules for the company's top leadership.

The amended and restated employment agreement with Felix Lin, the company's Chief Executive Officer, designates non-renewal by the company as a qualifying termination event that entitles Lin to severance benefits. The agreement also shifts the pro-rata current year bonus eligibility date for qualifying terminations from June 30 to March 31. On the same date, HF Foods Group entered into new employment agreements with Paul McGarry, Chief Financial Officer, and Christine Chang, Chief Administrative Officer. These agreements maintain each executive's prior compensation terms and mirror the amended CEO agreement, except that the initial term for both the CFO and CAO is set at one year.

The Compensation Committee of the Board of Directors approved an amended and restated Severance Plan on September 28, 2026, which includes target bonus in the severance benefits for the Chief Executive Officer. The committee also approved amendments to the forms of Restricted Stock Unit (RSU) and Performance Share Unit (PSU) award agreements under the 2018 Omnibus Incentive Plan. Additionally, the company amended currently outstanding RSU and PSU awards under the plan.

The equity award amendments modify several key provisions for executives. The vesting date for RSU and PSU grants is changed from April 15 to March 17. The change in control protection period is increased from 12 months to 24 months. The amendments provide for full acceleration of unvested awards upon death or disability. Furthermore, in the event of a qualifying non-change in control termination, the amendments provide for pro-rata PSU payment at the end of a performance period based on actual performance.

The Form 8-K lists six exhibits filed with the report, including the individual employment agreements for Lin, McGarry, and Chang, as well as the amended severance plan and forms of equity award agreements. The filing was signed by Paul McGarry, Chief Financial Officer, on October 2, 2026. HF Foods Group Inc. is incorporated in Delaware and has its principal executive offices in Las Vegas, Nevada.