secwatch.observer — SEC 8-K summary
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Issuer:     UNITED NATURAL FOODS INC (UNFI)
CIK:        0001020859
Form:       8-K
Filed at:   2022-09-27T23:59:59+00:00
Accession:  0001020859-22-000052
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02
LLM model:  deepseek-v4-flash:cloud@v2

UNFI sets FY23 executive comp: base salaries, LTI awards, updated severance agreements
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- FY23 base salaries: Douglas $1.05M, Howard $722,250, Testa $810K, Dorne $787.5K (retiring Oct 29).
- Long-term incentive awards: Douglas $5M; Howard, Testa, Dorne $1.8M each; cash incentive targets unchanged.
- Updated severance agreements effective Oct 23: adds payment equal to target bonus, revised restrictive covenants.
- Howard's base salary increased; Douglas & Howard get higher LTI, yielding up to 16.9% total comp increase.
- No change to cash incentive plan targets as % of salary for named executive officers.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1020859/000102085922000052/0001020859-22-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1020859/000102085922000052/unfi-20220921.htm
  HTML page:      https://secwatch.observer/filing/0001020859-22-000052

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