secwatch.observer — SEC 8-K summary
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Issuer:     ALICO, INC. (ALCO)
CIK:        0000003545
Form:       8-K
Filed at:   2024-06-03T23:59:59+00:00
Accession:  0000003545-24-000068
Event type: other
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

Alico grants severance benefits to execs Sampel and Heine
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- James Sampel gets 1-year base salary plus health benefits if terminated without cause or for good reason after change in control.
- Bradley Heine's employment agreement amended to add same severance: 1-year base salary and 12-month health benefits.
- Both severance packages require release of claims and compliance with restrictive covenants including 12-month noncompete.
- Heine Amendment does not alter other terms of his August 2023 employment agreement.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/3545/000000354524000068/0000003545-24-000068-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/3545/000000354524000068/alco-20240528.htm
  HTML page:      https://secwatch.observer/filing/0000003545-24-000068

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer