Lifecore Biomedical approves CY 2025 transition bonus plan; CEO target 100% of base salary

LIFECORE BIOMEDICAL, INC. DE

New bonus plan covers the approximate seven-month transition period May 26, 2025 through Dec 31, 2025.
Bonus weighted 80% on Adjusted EBITDA and total revenue, 10% on individual objectives, 10% on company goals.
Target bonus as % of transition-period base salary: CEO Paul Josephs 100%, CFO Ryan Lake 60%, Chief Legal Tom Salus 50%.
Maximum payout capped at 200% of target level for financial goals; minimum Adjusted EBITDA threshold applies.
CY 2025 plan replaces the prior FY 2026 Bonus Plan terminated due to the fiscal year change.

item 5.02

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