Alico enters amended employment agreement with CEO John Kiernan through 2030; grants PSUs up to 160,000 shares

ALICO, INC.

CEO John Kiernan's employment term extended to September 30, 2030; base salary starts at $550k, increases to $650k over five years.
Enhanced severance: 200% of base salary payable over 24 months upon termination without cause or for good reason after change in control.
New bonus structure: annual discretionary bonus up to $250k plus real estate incentive bonuses (at least 75% cash, up to 25% in PSUs).
Granted up to 160,000 performance-based RSUs with 60-day VWAP targets from $40 to $110 per share; vesting over five years from Oct 1, 2025.
Change in control provisions: PSUs deemed earned based on per-share value; unvested earned PSUs accelerate on certain terminations.

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