secwatch.observer — SEC 8-K summary
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Issuer:     WEIS MARKETS INC (WMK)
CIK:        0000105418
Form:       8-K
Filed at:   2023-03-24T23:59:59+00:00
Accession:  0000105418-23-000016
Event type: leadership
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Weis Markets enters CEO employment agreement with Jonathan H. Weis through 2025 with base salary of $1.26M
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- Base salary of $1,262,821/year; eligible for bonus, equity, and long-term cash incentive plans.
- CEO Incentive Award Plan provides retention award of 2x base salary and performance awards tied to net sales and MROIC targets.
- Without Cause termination: continued base salary until end of Term plus highest annual bonus from prior two years.
- Upon death, $3M lump sum paid to surviving spouse/estate under the Plan, plus 50% of base salary until end of Term.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/105418/000010541823000016/0000105418-23-000016-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/105418/000010541823000016/wmk-20230322x8k.htm
  HTML page:      https://secwatch.observer/filing/0000105418-23-000016

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