secwatch.observer — SEC 8-K summary
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Issuer:     HORMEL FOODS CORP /DE/ (HRL)
CIK:        0000048465
Form:       8-K
Filed at:   2023-11-17T23:59:59+00:00
Accession:  0000048465-23-000078
Event type: leadership
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hormel Foods finalizes separation of SVP & General Counsel Lori Marco; receives $647K in benefits
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- Separation effective Oct 27, 2023; separation agreement signed Nov 13, 2023.
- Receives $646.7K in total benefits: $380K base salary, $169.4K OSP, $32.3K LTI prorated, $50K fees, $15K COBRA.
- Agreement includes 12-month non-solicitation, perpetual confidentiality, non-disparagement, and full release of claims.
- Company waives enforcement of prior non-compete covenants under applicable incentive plans.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48465/000004846523000078/0000048465-23-000078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48465/000004846523000078/hrl-20231113.htm
  HTML page:      https://secwatch.observer/filing/0000048465-23-000078

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