secwatch.observer — SEC 8-K summary
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Issuer:     HORMEL FOODS CORP /DE/ (HRL)
CIK:        0000048465
Form:       8-K/A
Filed at:   2026-02-13T23:59:59+00:00
Accession:  0000048465-26-000010
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Hormel Foods finalizes separation with former CFO Smiley; total cash payout ~$2.775M
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- Smiley's last day as EVP/CFO was Nov 30, 2025; separation agreement dated Feb 11, 2026.
- Three cash payments: $941,667 within ~10 business days after release, $916,667 ~Jan 15, 2027, $916,666 ~Jan 14, 2028.
- Smiley retains eligibility for 2023 Cash LTIP award payout per original terms.
- Unvested RSUs and stock options forfeited; vested options remain exercisable.
- 36-month non-solicitation, confidentiality, and non-disparagement covenants apply.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/48465/000004846526000010/0000048465-26-000010-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/48465/000004846526000010/hrl-20251023.htm
  HTML page:      https://secwatch.observer/filing/0000048465-26-000010

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