Lifecore appoints Paul Josephs as CEO; concludes strategic review, remains standalone

LIFECORE BIOMEDICAL, INC. DE

Paul Josephs becomes President & CEO effective May 20, 2024, succeeding James Hall, who retires after 30+ years.
Strategic review with 75+ buyers concluded; Board unanimously chose standalone execution.
Josephs receives $550k base salary, 525k RSU (vest over 5 yrs), up to 1.5M PSU shares tied to stock price.
Hall separation: $750k severance over 12 months, full equity vesting, COBRA premiums for 12 months.
Craig Barbarosh not standing for reelection; Katrina Houde to become Board Chair at annual meeting.

item 5.02 item 7.01 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed

Paul Josephs

President and Chief Executive Officer

LFCR · LIFECORE BIOMEDICAL, INC. DE

Effective: 2024-05-20
Filed: March 21, 2024, 7:59 PM ET

Paul Josephs has been elected as the Company’s President and Chief Executive Officer effective May 20, 2024

Departed

James G. Hall

President and Chief Executive Officer

LFCR · LIFECORE BIOMEDICAL, INC. DE

Effective: 2024-05-20
Successor: Paul Josephs
Filed: March 21, 2024, 7:59 PM ET

Mr. Josephs will succeed James G. Hall, the Company’s current President and Chief Executive Officer.

Appointed

Paul Josephs

Director

LFCR · LIFECORE BIOMEDICAL, INC. DE

Filed: March 21, 2024, 7:59 PM ET

Mr. Josephs will be elected to the Board of Directors of the Company (the “Board”) to the vacancy caused by the resignation of Mr. Hall on the later of the Effective Date or the date of the Annual Meeting

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Paul Josephs was elected as President and Chief Executive Officer at LIFECORE BIOMEDICAL, INC. DE.

Action: elected
Role: President and Chief Executive Officer

Exact text from the filing

Paul Josephs has been elected as the Company’s President and Chief Executive Officer effective May 20, 2024

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

James G. Hall resigned as President and Chief Executive Officer at LIFECORE BIOMEDICAL, INC. DE.

Action: resigned
Role: President and Chief Executive Officer

Exact text from the filing

Mr. Josephs will succeed James G. Hall, the Company’s current President and Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.9

Paul Josephs was elected as Director at LIFECORE BIOMEDICAL, INC. DE.

Action: elected
Role: Director

Exact text from the filing

Mr. Josephs will be elected to the Board of Directors of the Company (the “Board”) to the vacancy caused by the resignation of Mr. Hall on the later of the Effective Date or the date of the Annual Meeting

View on SEC.gov

LIFECORE BIOMEDICAL, INC. DE filing history →

Source: SEC EDGAR

accession 0001005286-24-000036

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