PriceSmart CEO Sherry Bahrambeygui to resign Feb 3, 2023; founder Robert Price becomes Interim CEO

PRICESMART INC

Sherry Bahrambeygui resigns as CEO effective Feb 3, 2023, remains on Board.
Founder/Chairman Robert Price named Interim CEO; John Hildebrandt promoted to President & COO.
David Price promoted to EVP and Chief of Staff to Interim CEO.
Bahrambeygui receives $1.5M severance plus $2.25M cash incentive; retains 97,122 RSUs/PSUs.
Board amends bylaws to exclude broker non-votes from shares considered present for stockholder votes.

item 5.02 item 5.03 item 9.01

Executive movements

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Appointed (interim)

Robert E. Price

Interim Chief Executive Officer

PSMT · PRICESMART INC

Effective: 2023-02-03
Filed: December 9, 2022, 6:59 PM ET

Upon Ms. Bahrambeygui’s resignation, Robert E. Price will become Interim Chief Executive Officer.

Departed

Sherry Bahrambeygui

Chief Executive Officer

PSMT · PRICESMART INC

Effective: 2023-02-03
Successor: Robert E. Price
Filed: December 9, 2022, 6:59 PM ET

Sherry Bahrambeygui will be resigning as Chief Executive Officer, effective February 3, 2023

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Robert E. Price was appointed as Interim Chief Executive Officer at PRICESMART INC.

Action: appointed
Role: Interim Chief Executive Officer

Exact text from the filing

Upon Ms. Bahrambeygui’s resignation, Robert E. Price will become Interim Chief Executive Officer.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Sherry Bahrambeygui resigned as Chief Executive Officer at PRICESMART INC.

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

Sherry Bahrambeygui will be resigning as Chief Executive Officer, effective February 3, 2023

View on SEC.gov

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.9

PRICESMART INC: The Company amended its Bylaws to change the standard for stockholder approval, excluding broker non-votes from shares considered present and voting (effective 2022-12-08).

Change: bylaw amendment
Effective: 2022-12-08

Exact text from the filing

On December 8, 2022, the Board of Directors of PriceSmart, Inc. (the “Company”) approved an amendment to the Company’s Second Amended and Restated Bylaws (the “Bylaws”), which became effective immediately. The amendment amends and restates Section 5 of Article II of the Bylaws to change the standard for approval of matters subject to a vote of the stockholders such that “broker non-votes” will be excluded from shares considered to be present and voting on such matters.

View on SEC.gov

89 governance changes filed in the last 30 days. Browse all governance changes →

PRICESMART INC filing history →

Source: SEC EDGAR

accession 0001041803-22-000048

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